Previous Trading Days Events 28.05.2024

U.S. consumer confidence unexpectedly improved in May after deteriorating for three straight months amid optimism about the labour market, but worries about inflation persisted and many households expected higher interest rates over the next year.

More consumers believed that the economy could slip into recession in the next 12 months.

Continued positive job growth, rising wages, an ebullient stock market and healthy household balance sheets will keep consumers spending despite elevated prices and borrowing costs, said Oren Klachkin, financial market economist at Nationwide.

The Conference Board said that its consumer confidence index increased to 102.0 this month from an upwardly revised 97.5 in April. 

Consumers inflation and interest rate views were likely coloured by a surge in price pressures in the first quarter. That, together with stillsolid economic growth, has prompted financial markets to push back expectations for the first rate cut from the U.S. central bank to September from June. The Fed has kept its policy rate in the 5.255.50 range since July.

Source

httpswww.reuters.commarketsususconsumerconfidenceunexpectedlyimprovesmay20240528

Winners vs Losers

Silver tops with 5.77 gains this week and a remarkable 21.83 for the month. AUD gained ground and USD tries to recover from the recent and sudden weakening.

News Reports Monitor Previous Trading Day 28.05.2024

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