The Japanese Yen continued to fall to new multi-decade lows against a range of currencies after the BoJ left monetary policy unchanged. Weaker-than-expected Tokyo inflation the driver of the latest move.

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Gold and silver have pulled back from their respective highs, looking for the next catalyst. With risk sentiment improving, precious metals may find support from a softer USD

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US crude inventories fell, but much of this was down to oil exports rather than strong local demand.

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The US economy expanded by 1.6% q/q in the first three months of the year, missing estimates of 2.5% and down from 3.4% in Q4 2023. US dollar firms after PCE figures nudge higher.

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Yield curve inversion has historically been associated with economic slowdowns and recessions in the US.

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