Global Economic Indicators
- UK Retail Boom:
Retail sales in the UK rose sharply by 5.0% YoY in April, up from a revised 1.9% in March.
Monthly growth also jumped to 1.2%, beating forecasts, indicating consumers are still spending despite high prices.
Analysts link the boost to easing global trade tensions and lower interest rates.
- German GDP Surpasses Expectations:
Germany’s economy showed strong Q1 performance with a 0.4% QoQ GDP growth, the best since Q3 2022, driven by a surge in exports and industrial output.
Despite a YoY contraction of 0.2%, the data exceeded initial estimates of 0.2% growth.
The boost came largely from exporters accelerating shipments ahead of possible US tariffs.
Cryptocurrency & Digital Finance
- Bitcoin Holds Despite Volatility:
Bitcoin remains stable below its recent record near $72,000, as optimism around US crypto regulation persists.
Whale movements and legislative progress on crypto bills are fueling market sentiment.
- Stablecoin Surge Incoming?
A WSJ report revealed that major US banks are in early talks to launch a joint stablecoin, reinforcing the sector’s legitimacy and attracting positive investor sentiment.
Energy & Oil Markets
- Oil Faces Weekly Losses Amid Supply Concerns:
Oil prices dipped in Asian trading Friday, pressured by fears of oversupply after reports suggested OPEC+ may raise output again.
This followed data from the EIA showing an unexpected 1.3 million barrel build in US crude stocks, and a 2.5 million barrel rise reported earlier by the API.
The upcoming OPEC+ meeting could be a turning point, with potential wide-reaching effects on global supply and prices.
