FX

AUD/USD consolidates recent gains around multi-day top, renews intraday low of late. Australia’s S&P Global Manufacturing PMI for May came in softer but Services PMIs rose past market consensus. Risk-on mood, hopes from new government previously favored bulls. US activity data, Fed’s Powell and headlines from Quad, as well as concerning China, will be important
Economist at UOB Group Enrico Tanuwidjaja reviews the improvement in the consumer sentiment gauge in Indonesia. Key Takeaways “Indonesia’s Consumer Confidence Index increased slightly in Apr to 113.1, up by 2.1pt from March’s 111.0.” “The Current Economic Condition Index increased slightly to 98.9 in Apr from Mar’s 93.9.” “Consumer generally remains upbeat on the economy
Legendary investor and possible GOAT Stanley Druckenmiller bets big on energy. Warren Buffet takes a big stake in Citi and dumps Wells Fargo. Buffet also likes energy with his large stake in Occidental. The latest 13F filings make for some interesting reading and allow us to belatedly copy some of the world’s leading investors and traders.