Market WATCh Weekly 21 May 2021

Market WATCh Weekly 21 May 2021

May 21, 2021

In Australia, employment unexpectedly declined in April, while annual wage growth remained low in Q1. Retail trade rose by another 1.1% in April. Westpac consumer confidence came off its 11-year high, while the flash PMIs pointed to ongoing expansion in May. Offshore, the FOMC minutes signalled that some participants think it might be appropriate to begin taper talks in the coming months. US initial jobless claims fell to a new pandemic low. Chinese economic activity data for April were mixed, with urban fixed asset investment surprising to the upside. Chinese steel production rose to another all-time high.

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