A batch of economic data coming from the US. Personal income rose 0.3% in April, matched expectation. Personal spending rose 0.6%, above expectation of 0.4%.
Headline PCE deflator rose 0.2% mom, 2.0% yoy, in line with consensus.
Core PCE rose 0.2% mom, 1.8% yoy in April, versus expectation of 0.1% mom, 1.8% yoy.
Initial jobless claims dropped -13k to 221k in the week ended May 26 versus expectation of 230k. Four week moving average rose 2.5k to 222.25k. Continuing claims dropped -16k to 1.726m in the week ended May 19. Four week moving average of continuing claims dropped -8.5k to 1.7435m, lowest level since December 1973
From Canada, GDP grew 0.3% mom in March, in line with expectation.
Reactions are muted as the markets await US decisions on steel and aluminum tariff temporary exemptions.
