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Breitbart Business Digest: April's Showers Bring May Flowers

May brought a surprising burst of vitality to the U.S. economy, with robust reports from the Institute for Supply Management (ISM) and S&P Global.

Sharpest rise in output for eight months

Sharpest rise in output for eight months - S&P Global Index

British Pound Outlook: "Market Reaction Will Send Euro-Sterling Higher"

Construction buyers see fastest growth for 14 months

Commercial building work leads the way in April

Japan's PMI services finalized at 54.3, strong demand and rising costs

Japan's PMI Services for April finalized at 54.3, slightly up from March's 54.1. PMI Composite also saw an uptick, reaching 52.3, the highest level since August 2023.

Dollar Strengthens Modestly as Forex Markets Quiet

RBA's Lack of Hawkishness Weakens Aussie, Yen's Retreat Continues

In the aftermath of RBA's decision to maintain interest rates unchanged and the absence of explicit hawkish signals, Australian Dollar weakens mildly. Despite notable upgrades in inflation forecasts, the central bank opted for a cautious approach, refraining from signaling imminent rate hikes and maintaining a stance of "not ruling anything in or out." Recent stronger-than-expected inflation data did not push RBA closer to resume monetary tightening, at least for the time being.

UK PMI construction hits 14-month high but hiring trend subdued

Pound Sterling Struggles Vs Dollar Ahead Of Next Week's BoE Rate Decision

Despite minimal impact from UK local election results, GBP/USD struggled to maintain gains despite a record high for the FTSE 100 index.