IN THE OVERNIGHT 30 MAY

May 30, 2023

U.S. debt ceiling deal to face its first test in Congress. The House of Representatives Rules Committee is due to consider the 99-page bill at 3 p.m. TODAY…if passes, it goes to Congress tomorrow.

Sea of GREEN …Quiet night

Hong Kong: Hang Seng closed up +0.24%
China CSI 300 +0.10%
Taiwan KOSPI +1.04%
India Nifty 50 +0.22%
Australia ASX +0.84%
Japan Nikkei +0.23%
European bourses in positive territory so far this morning
US indices in positive territory so far in pre-market, USD retreats -0.14%

Overnight Data/News

PBoC Fixes USDCNY Reference Rate At 7.0818 (prev fix 7.0575 prev close 7.0706)
Australian Building Approvals (M/M) Apr: -8.1% (exp 2.0%; prev -0.1%) – Private Sector Houses (M/M) Apr: -3.8% (prev -2.8%)
Spanish CPI (M/M) May P: -0.1% (est 0.0%; prev 0.6%) – Spanish CPI (Y/Y) May P: 3.2% (est 3.6%; prev 4.1%) – Spanish CPI EU Harmonised (M/M) May P: -0.2% (est 0.2%; prev 0.5%) – Spanish CPI EU Harmonised (Y/Y) May P: 2.9% (est 3.3%; prev 3.8%)
Spanish Retail Sales SA (Y/Y) Apr: 5.5% (prevR 9.9%) – Spanish Retail Sales (Y/Y) Apr: 5.0% (prevR 9.9%)
Swiss GDP (Q/Q) Q1: 0.3% (est 0.1%; prev 0.0%) – Swiss GDP (Y/Y) Q1: 0.6% (est 0.6%; prevR 0.7%)
Eurozone M3 Money Supply (Y/Y) Apr: 1.9% (est 2.0%; prev 2.5%)
Eurozone Consumer Confidence May F: -17.4 (prev -17.4) – Eurozone Economic Confidence May: 96.5 (est 98.8; prevR 99.0) – Eurozone Industrial Confidence May: -5.2 (est -4.0; prevR -2.8) – Eurozone Services Confidence May: 7.0 (est 10.3; prevR 9.9)
Italian PPI (M/M) Apr: -6.5% (prev -2.0%) – Italian PPI (Y/Y) Apr: -3.5% (prev 3.0%)
UK Shop Price Inflation Rises To Record High, Industry Data Shows – FT
Danielle Smith’s United Conservative Party (UCP) won the Alberta provincial election on Monday, securing another four years in power in Canada’s largest oil-producing region, and immediately fired a warning shot at Prime Minister Justin Trudeau over climate change.