Last week we learned that inflation in Canada fell 0.2% in April. On an annual basis, it has now reached a low 0.4%. A U.S. news item that gained some traction was an announcement by the President of the Federal Reserve of New York that the Fed could begin scaling back its bond purchases from the current rate of $85 billion per month. A mixed bag of other economic indicators south of the border also made headlines. The Retail Sales and the Michigan Consumer Sentiment Index figures were better than analysts had forecast, while the Housing Starts and Initial Jobless Claims figures proved disappointing. The economy of the eurozone continues to contract, with -0.2% growth posted for the last quarter. Have a good week!
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