The Dallas Fed survey of factories in their oil patch is quite subdued in May which is probably no surprise given the languishing oil price. And with today's oil price retreat it will probably be even lower in June. And staying in China, a strong echo from their brutal pandemic lockdown is starting to play out in their economy. In Japan, their jobless rate fell back to the 2.6% level it was a few months ago, which was a better result than expected. But oil prices are a lot lower today from yesterday at just over US$69/bbl in the US and that is down -US$4/bbl.

Source: Stuff May 31, 2023 01:28 UTC