Daily Market Insight

• US wholesale inventories unchanged for second straight month; sales drop • Euro zone investor morale unexpectedly dips in May • Japan's service activity grows at record pace in April • U.S. dollar struggles, pound hits one-year high

• U.S. economy adds 253,000 jobs in April • Euro zone retail sales fall more than expected in March • Chinese service sector activity growth slows in April • Dollar dips against euro as jobs gains offset by negative revisions

• U.S. job openings fall to almost two-year low in March • Euro zone inflation picks up, but core unexpectedly slows • Hong Kong's GDP rebounds 2.7% in first quarter as outlook brightens • Oil extends losses as investors brace for more rate hikes

• US manufacturing contracts again in April, but pace slows • China non-manufacturing activity expands more slowly in April • South Korea inflation hits 14-month low, backs view rate-hike cycle is over • Dollar gains before Fed meeting, jobs data

• U.S. GDP slows to 1.1% in the first quarter • EU sentiment flat as services optimism offsets industry gloom • Tokyo CPI inflation beats expectations in April, signals pressure on BOJ • US dollar edges higher as GDP, jobless claims affirm rate hike bets

• U.S. goods trade deficit narrows sharply in March; retail inventories rise • Germany expects deficit of 4.25%/GDP in 2023 • Thai March export fall less than expected, value at a year high • Oil drifts higher after wiping out all OPEC-driven gains

• US consumer confidence falls to 9-month low in April • UK grocery inflation eases slightly to 17.3% in April • Japan’s business services inflation hits 8-year high in fiscal 2022 • Dollar, yen buoyed as US banking sector fears put safe-havens back in vogue

• US bank deposits, loans ticked down in latest week • German business sentiment improves slightly in April • South Korea ducks Q1 recession as consumer spending supports GDP • Dollar slides as rate cuts priced in; yen falls ahead of BOJ meeting

• U.S. business activity in April touches 11-month high • UK economy shows signs of recovery despite inflation’s drag • Japan's factory activity shrinks at slowest pace in six months • Oil prices slide on uncertainty over global economic outlook, rate hikes

• UK consumer confidence highest since Feb 2022 as 'green shoots' emerge • German producer prices rise less than expected in March • Japan CPI inflation remains sticky in March as BOJ meeting looms • Asia FX dips, dollar steady on fears of Fed hikes, slowing growth