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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone CPI grew as expected in April
In the Euro-zone, the CPI advanced 7.0% in April, at par with market expectations and compared to a rise of 6.90% in the previous month.
US MBA mortgage applications dropped in the week ended 12 May 2023
In the US, the MBA mortgage applications fell 5.70% in the week ended 12 May 2023, compared to a rise of 6.30% in the prior week.
US building permits unexpectedly fell in April
In the US, building permits unexpectedly dropped 1.50% on a MoM basis in April, compared to a revised fall of 3.00% in the previous month.
US housing starts rose more than expected in April
In the US, housing starts advanced 2.20% on a MoM basis in April, compared to a revised fall of 4.50% in the prior month. Markets were expecting housing starts to rise 1.90%.
Japan adjusted merchandise trade balance posted an unexpected surplus in April
In Japan, adjusted merchandise trade balance posted an unexpected surplus of ¥1,017.20 billion in April, compared to a deficit of ¥1,209.90 billion in the previous month.
Australia unemployment rate rose more than anticipated in April
In Australia, the unemployment rate advanced to 3.70% in April, compared to 3.5% in the prior month.
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