- Reuters
Currencies tread cautiously after US inflation report, focus on ECB
The currency market started the week cautiously, with the dollar slightly lower on Monday after data last week showed U.S inflation had stabilised in April, keeping the door open for the Federal Reserve to cut interest rates later in the year. Markets are pricing in 37 basis points of cuts this year from the Fed after data on Friday showed the personal consumption expenditures (PCE) price index increased 0.3% last month, matching the unrevised gain in March. The inflation data still shows price pressures remain above the Fed's 2% target, with the year-over-year rise in the PCE index measuring 2.7% in April, the same rate as in March, keeping the markets unsure of more than one rate cut in 2024.
- KSBY
Unarmed Minuteman III test launches planned for Tuesday
Unarmed Minuteman III test launches planned for Tuesday
- Reuters
Australia lifts minimum wage as families grapple with higher living costs
Australia's independent wage-setting body on Monday raised the national minimum wage by 3.75%, largely in line with inflation, as families tackle soaring living costs. In its annual review, the Fair Work Commission said cost-of-living pressures have hit low-income employees the most, though inflation is considerably lower now than it was at this time last year, when it awarded an increase of 5.75%. But the report said it was not "appropriate at this time to increase award wages by any amount significantly above the inflation rate principally because labour productivity is no higher than it was four years ago."
