Economic News
Canada's Housing Demand Suppressed by Economic Recession Fears
Canada's housing market is facing a significant downturn as economic recession concerns weigh on potential homebuyers. A recent BMO survey reveals that 73% of would - be purchasers are adopting a wait - and - see attitude due to fears of an economic slump, a 13 - percentage - point increase compared to March.
Canadian Stocks Retreat Slightly Amid Oil Price Decline and Service Sector Woes
On May 5, the Canadian stock market experienced a slight pullback. The S&P/TSX composite index on the Toronto Stock Exchange dropped 27.99 points, or approximately 0.3%, closing at 24,953.52, bringing an end to the previous day's upward trend.
Japan Clarifies on US Debt and Participates in 10+3 Finance Meeting
On May 5th, Japanese Finance Minister Katsunobu Kato clarified in Milan, Italy, that Japan will not use the sale of its $1.3 trillion in US Treasuries as a bargaining chip in US trade negotiations, retracting his previous controversial remarks.
UK Family Income Disparities Worsen
The latest data from the UK's Office for National Statistics on May 2nd shows that, after inflation adjustment, the median disposable income of UK households remained at £36,700 for the fiscal year 2024 (from April 2023 to March 2024), returning to the pre - pandemic level. However, the wealth gap continues to widen. The median income of the poorest one - fifth of households decreased by 2.6% to £16,800, 4.9% lower than before the pandemic.
UK Markets Await Central Bank Decisions Amid Holiday Lull
On May 5, the UK stock market was closed due to a holiday. On Monday, the pound rose against the weakening US dollar. With the UK public holiday causing a lull in market news, all eyes are on the upcoming Bank of England's monetary policy decision later this week. There are no major domestic events before Thursday's Bank of England meeting.
ANZ Bank Cuts Australia's Economic Growth Forecast, Banks Face Key Tests
On May 5, the ANZ Bank lowered its economic growth forecast for Australia in 2025 to 2.0%. The main reasons are the slowdown in global demand and geopolitical risks weighing on exports. With the growth rate of CPI in the first quarter falling, the market expects that the Reserve Bank of Australia (RBA) may cut interest rates by 25 basis points ahead of schedule this month,
New Zealand's Trade Shows Positive Signs as Real Estate Market Remains Mixed
On May 5, positive signals emerged in New Zealand's trade sector, with the impact of US - imposed tariffs on agricultural exports proving to be limited. Paul Clark, an economist at Westpac, forecasts that milk prices will remain stable at NZ$10.30 per kilogram this season, potentially edging down to NZ$10 next season, though fluctuations in supply, demand, and exchange rates could still drive prices upward.
NZ's S&P/NZX 50 Index Rises to Near Two - Month High
On Monday, the S&P/NZX 50 benchmark index in New Zealand climbed 0.8% to 12,421 points, achieving a three - day winning streak and closing at a near two - month high. Driven by the strong performance of transportation - related stocks, this sector benefited from the alleviation of concerns about global supply chain disruptions against the backdrop of the easing of Sino - US trade relations.
ESA Assesses Impact of US Budget Proposal; Europe Faces Energy Challenges
The European Space Agency (ESA) is urgently evaluating the impact of the US 2025 fiscal year budget proposal on the joint lunar exploration program. The proposal plans to phase out the SLS rocket and the Orion spacecraft, which contains key modules of Airbus, a European company, and cancel the construction of the "Lunar Gateway" orbital station, which includes components contracted by Thales of France and Italy.
Canadian Economy Faces Double Pressure: April PMI Below Boom - Bust Line, Soft Housing Market and Tariff Shock
Canada's economic momentum slowed significantly in April. The Ivey Purchasing Managers' Index (PMI) plummeted from 51.3 in March to 47.9, falling below the boom - bust line for the first time since January. The employment sub - index has contracted for two consecutive months (48.0), and the cost pressure on enterprises has eased slightly (price - payment index 70.0). Meanwhile, the housing market in Toronto is also cooling down.
US-Japan Tariff Negotiations Reach an Impasse as US Refuses to Fully Lift Tariffs to Pressure Japan
The tariff dispute between the United States and Japan has been escalating. Negotiation details revealed on May 6 show that the US side has firmly refused to cancel the 14% punitive tariffs and the 10% base tariff imposed on Japan by the Trump administration.
US - UK Trade Agreement Nears, UK Auto Market in the Doldrums
The UK and the US are on the verge of finalizing a trade deal, according to British and American officials. This agreement, set to be signed this week, will offer lower tariff quotas for UK steel and car exports, shielding some British goods from the full impact of the 25% additional tariffs on steel and car imports imposed by Trump in February and March.
UK Stocks Focus on Central Bank Policies: FTSE 100 Slightly Down 0.2% with Precious Metals Sector Leading the Way
On May 6, the UK's FTSE 100 index closed 0.2% lower at 8,143 points. Investors remained cautious ahead of the interest rate decisions of the Federal Reserve and the Bank of England. The mid - cap index, however, bucked the trend and rose 0.6%, achieving a nine - day winning streak. The precious metals sector soared 5.5% boosted by the gold price. Endeavour Mining (+5.2%) and Fresnillo (+4.7%) led the gains among the blue - chip stocks.
Australia's Housing Market and Construction Industry Show Divergent Trends
In the first week of May, Australia's property market witnessed a remarkable rebound, with the national auction clearance rate soaring to 70.1%, a 5.9 - percentage - point increase from the previous month and reaching a two - year high. Melbourne led the way with a clearance rate of 74.4%, while Sydney also performed strongly
First time in 20 years! Google, Android may be divested
First time in 20 years! Google, Android may be divested
The U.S. housing market is about to usher in a new era this weekend.
The U.S. housing market is about to usher in a new era this weekend.