NEWS

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Mortgage applications released by the Mortgage Bankers Association (MBA) rose 2.7% in the past week Mortgage interest rates fell on two of five types of loans. Spring homebuying season helped the buyers interest.

The Reserve Bank of Australia (RBA) as expected kept interest rates on hold at the historic low of 1.5 per cent for the 33rd consecutive meeting in May. Growth in household consumption is affected by the weakness in real household disposable income and adjustment in housing markets.

The US labor market has seen average hourly earnings grow 3% year-over-year and the April jobs report saw the ninth straight month of wage growth. The recent increases to minimum wages. We look at the fastest growing jobs out of the inaugral Glassdoor Job Market Report. 

The US Labor Department April jobs report Friday showed a higher than expected 263,000 NFP jobs added. Unemployment stayed fell to 3.7%, the lowest since December 1969. Participation rate fell to 62.8 from 63.0%.

The natural gas injection season is upon us. The EIA reported a build of +123 Bcf in natural gas storage last week, as expected as temperatures stayed are in the hot/cold sweet spot for users. Ahead we focus on LNG and Mexican exports.

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