ECB Interest Rates and Australian Retail Sales
ECB Interest Rates and Australian Retail Sales
Friday s rumpers readines:
On Friday, the USD Durable Goods Orders for April were released at 0.7%, next to the forecasted -0.8% and this, compared to the previous 0.8%, was a giant leap. The turnaround toward the positive would indicate some kind of a recovery in orders from manufacturers and, thus, a bit of resilience in the U.S. economy.
Monday’s ECB View:
With the UK on a bank holiday, trading was relatively quiet.
However, CB Chief Economist Phillip Lane made waves, suggesting that keeping interest rates too high for too long could push inflation below target. – hence giving backing for rate cuts to stabilize inflation – signalling possible future easing by the ECB.
Australian Data Tuesday:
More increased risk appetite is helping the Australian Dollar inch higher. Retail Sales in Australia during the month of April expanded by 0.1%, which is a bit lower than the anticipated 0.2%, but way better than the previous month’s -0.4%. This rather small gain reflected a sort of a comeback in consumer spending.