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EUROPE Back to data watching, with US debt bill on track

Marketmind: Back to Data Watching, With US Debt Bill on Track

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MORNING BID EUROPE-Back to data watching, with US debt bill on track

China's official PMIs indicated a faster-than-expected contraction in manufacturing activity and slower growth in services in May. That followed consistently weak economic releases for April, suggesting the post-COVID reopening bounce has run out of steam. Forecast-beating Australian consumer prices, released at exactly the same time, appeared to back up Reserve Bank of Australia Governor Philip Lowe's earlier warning that risks to inflation are on the upside, keeping rate hike bets alive.

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