- National Australia Bank's Business Conditions fell to 7 in April, from the previous reading of 9. Meanwhile, National Australia Bank's Business Confidence stood at the reading of 1.
- According to The Guardian, Treasurer of Australia Jim Chalmers hinted at positive developments during a series of television interviews on Sunday morning. Chalmers suggested that the upcoming budget would reveal a quicker decline in inflation than what the RBA had anticipated. He emphasized that Tuesday night's budget aims to lower inflation rather than exacerbate it, while also aiming to alleviate some of the burdens for individuals.
- According to Reuters, Neel Kashkari, President of the Minneapolis Federal Reserve (Fed), expressed caution regarding the level of restrictiveness in monetary policy. On Friday, Kashkari stated in an interview with CNBC that while the threshold for another rate hike is high, it cannot be entirely ruled out. Additionally, San Francisco Fed President Mary Daly emphasized the necessity of maintaining a prolonged restrictive policy to attain the Federal Reserve's inflation objectives.
- On Friday, the University of Michigan Consumer Sentiment Index, dropped to 67.4 in May from April's 77.2, marking a six-month low and falling short of market expectations of 76 reading. Meanwhile, the UoM 5-year Consumer Inflation Expectation rose to 3.1%, a six-month high, up from 3.0% prior.
- The Commonwealth Bank of Australia (CBA) has revised down its forecasts for the Australian Dollar at the end of 2024 is 0.69, down from 0.71 previously. CBA cites factors such as the interest rate gap and elevated US Treasury bond yields, which are bolstering the US Dollar. The Federal Reserve's cautious stance on high inflation and its reluctance to implement rate cuts further support the US Dollar, as reported on forexlive.com.
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