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Writer's pictureStéphan

2024 year of the metals #copper the new oil #AUD / China buys unsold homes / Turkey / FED prepared to be patient, U.S CPI up next




  • Jerome Powell might be getting a little worried that the battle will go on much longer than expected....so let's hear about that CPI shortly ! >>> notable weakness in U.S macro data last couple of weeks, pushed rate cut expectations back to 2+ before year-end and USDollar clearly under the cosh since (peak rates = peak USD ...quite how far it would go is ZE question though vs other fiat currencies, would tend to think #AUD could have a run eventually with metals-commods and China on the 'mend' and GBP why not - most hated currency in the world, other than JPY !)

  • Federal Reserve Bank of Cleveland President Loretta Mester said monetary policy is in a good place, adding that the central bank shouldn’t be in a hurry to cut interest rates.

  • Macron said he would be open to seeing a major French bank being taken over by a European Union rival in order to spur the deeper financial integration he sees as critical for the bloc’s future prosperity

  • Enovix Begins Customer Sampling of EX-1M Batteries

  • Biden quadruples tariffs on China EVs and targets chip imports as a trade war intensifies. Treasury Secretary Janet Yellen has said Biden won't allow a second wave of the “China shock” of the early 2000s

  • U.S. and Taiwan navies quietly held Pacific drills in April

  • The Biden administration is encouraging Arab states to participate in a peacekeeping force that would deploy in Gaza once the war ends

  • China is considering a proposal to have local governments across the country buy millions of unsold homes

  • Turkish authorities said Tuesday they arrested 544 people suspected of links to preacher Fethullah Gulen, whom President Recep Tayyip Erdogan accuses of being behind an attempted coup in 2016

  • BofA: Electricity inflation is the highest in 40 years, just as data center & AI demand surge

  • Euro Area April Wages Rise 3.02% Y/y (down from 3.35% YoY in March): Indeed Hiring Lab - Bloomberg

 














Not a great combo !






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