Daily Market Insight

• US consumer sentiment plummets to six-month low on debt ceiling debacle • UK economy makes slow start to 2023 as inflation headwinds persist • Hong Kong Q1 GDP grew 2.7% y/y, sees tourism, consumption driving recovery this year • Dollar on pace for biggest weekly rise since February

• US weekly jobless claims hit 1-1/2-year high; inflation subsiding • Bank of England hikes key rate by 25 basis points to 4.5% • Euro zone consumers raise inflation expectations • Dollar stronger as market rethinks monetary policy outlook

• U.S. CPI rises by slower-than-expected 4.9% in April • German exporters disappointed as China Q1 rebound passes them by • Chinese CPI inflation worsens in April, PPI at COVID-era lows • Dollar in holding pattern, inflation data provides little clarity on rates

• US consumers' inflation expectations mixed in April • Japan’s spending downturn, wages decline heighten pressure on economy • Chinese imports slide more than expected in April, exports rise • Dollar edges up as markets await debt-ceiling talks, inflation data

• US wholesale inventories unchanged for second straight month; sales drop • Euro zone investor morale unexpectedly dips in May • Japan's service activity grows at record pace in April • U.S. dollar struggles, pound hits one-year high

• U.S. economy adds 253,000 jobs in April • Euro zone retail sales fall more than expected in March • Chinese service sector activity growth slows in April • Dollar dips against euro as jobs gains offset by negative revisions

• U.S. job openings fall to almost two-year low in March • Euro zone inflation picks up, but core unexpectedly slows • Hong Kong's GDP rebounds 2.7% in first quarter as outlook brightens • Oil extends losses as investors brace for more rate hikes

• US manufacturing contracts again in April, but pace slows • China non-manufacturing activity expands more slowly in April • South Korea inflation hits 14-month low, backs view rate-hike cycle is over • Dollar gains before Fed meeting, jobs data

• U.S. GDP slows to 1.1% in the first quarter • EU sentiment flat as services optimism offsets industry gloom • Tokyo CPI inflation beats expectations in April, signals pressure on BOJ • US dollar edges higher as GDP, jobless claims affirm rate hike bets

• U.S. goods trade deficit narrows sharply in March; retail inventories rise • Germany expects deficit of 4.25%/GDP in 2023 • Thai March export fall less than expected, value at a year high • Oil drifts higher after wiping out all OPEC-driven gains