Analysts at ANZ noted the bounce back in US data from overnight.
“April personal spending was upbeat at 0.6%, while real personal spending rose 0.4%.”
“The data should help allay fears of a more protracted slowdown in consumption after yesterday’s weaker Q1 result.”
“Personal income rose 0.3%.”
“The core PCE deflator was at 1.8% y/y in April, unchanged from a downwardly revised 1.8%.”
“Initial and continuing jobless claims declined.”
“The Chicago PMI was strong; the Beige Book stressed the tightness of the labour market.”
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