Employment gains continue in the US and Canada. The BoE remains on hold and highlights outlook uncertainty. Industrial production rebounds across the eurozone. Japan’s wage deflation moderates. The RBA will step back into the ACGB market.
Major upside surprise in US employment. The Bank of Canada scales back operations. UK consumer sentiment remains depressed, but has likely bottomed. The ECB substantially boosts QE. Japan’s leading indicators at post GFC lows. Slight positive surprise in Australia’s Q1 GDP.
Fiscal stimulus boosts US household incomes. Canada’s domestic demand at post GFC lows. German retail sales hold up better than expected. The worst is possibly over for Japan’s labor market. Australian firms downgrade their CAPEX outlook significantly.