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You can’t move for tier-one data for major economies this week. Manufacturing and services PMIs, Eurozone inflation, the Fed, BoE and RBA rates decisions all come before the week is rounded off by Nonfarm Payrolls.
US CPI inflation fell less than expected in April. This is sending bond yields higher and selling pressure on Wall Street again.
The ISM Manufacturing PMI remains in contraction, but pricing pressures are increasing. This is driving yields and the USD higher and weighing on risk appetite.
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