Australia Retail Sales Beat Estimates, Adding to Rate Hike Case
Australian retail sales rose by more than expected in May with spending largely driven by discounts in the face of elevated borrowing costs.
Australian retail sales rose by more than expected in May with spending largely driven by discounts in the face of elevated borrowing costs.
Oil steadied around a two-month high on signs of a significant drawdown in US crude stockpiles.
Stocks in Asia rose as traders weighed prospects for Federal Reserve interest-rate cuts after Jerome Powell cited signals that the US is back on a disinflationary path.
Japan issued newly designed banknotes for the first time since 2004 in a move that may provide a small boost to the economy while potentially nudging some cash hoarders to invest money instead of stashing it under the mattress.
UK opinion polls have been remarkably consistent over the six-week general election campaign: The opposition Labour Party is projected to win, and leader Keir Starmer will be Britain’s new prime minister.
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