Australia Private-Sector Sustains Expansion in May: PMI Report

Australia's private-sector expansion was sustained in May, supported mainly by service-sector growth and a flush of new business, reported S&P Global on Thursday, citing its monthly survey.

MT Newswires05:06 ET

Australia's Business Activity Accelerates in May, But Growth Eases to Three-Month Low

Business activity in Australia's private sector expanded further in May, albeit at a slower pace, with manufacturing output reaching an eight-month high and the services sector sustaining its growth, according to preliminary readings from S&P Global and Judo Bank's monthly purchasing managers' index data.

MT Newswires01:50 ET

Australian Dollar Rebounds Due to Improved Risk Appetite

The Australian Dollar (AUD) halts its three-day losing streak on Thursday, possibly driven by the improved risk appetite. However, the Aussie Dollar came under pressure following the Consumer Inflation Expectation, released by the Melbourne Institute. Consumer expectations of future inflation over the next 12 months fell to 4.1% in May from 4.6% in April, marking the lowest level since October 2021.

FXStreet23:01 ET

Australian Flash PMI Data Points to Resilience in Economy, Stubborn Inflation

Australia's economy continues to register a clear and detectable pulse, with purchasing managers' index data for May remaining firmly in expansionary territory.

WSJ20:27 ET

Canada Consumer Confidence Could Get Boost From Rate Cut -- Market Talk

A Canadian consumer-confidence gauge indicates a small increase for May.

WSJ12:19 ET

Traders Hedging Bets On Bank of Canada Rate Cut In June -- Market Talk

Bank of Canada officials are likely to hold off on a rate cut until July because they may seek further evidence of economic weakness, says Karl Schamotta, chief market strategist at forex firm Corpay. Schamotta says, based on activity in the overnight-index swap market, traders believe there is a 59% likelihood of a June rate cut, which is up from 40% prior to the release this week of April CPI data but below 64% from the end of March.

WSJMay 22 08:50 ET