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ECB Tracker Points to Slower Wage Growth in 2026

  • Eurozone wage growth is projected to slow to 2.6% in 2026 from 3% in 2025, according to European Central Bank figures.
  • Piero Cipollone, a member of the ECB’s executive council, said the wage tracker indicates moderation amid a cooling labor market.
  • ECB officials worry persistent high energy prices could prompt higher pay demands, increasing the likelihood of a June interest rate hike.

 
Indonesia Central Bank Tightens Rules on Dollar Purchases to Support Rupiah

  • Indonesia’s central bank tightened dollar buying rules, limiting monthly domestic purchases to $50,000 per person.
  • Bank Indonesia Gov. Perry Warjiyo vowed to intensify foreign-exchange market intervention to strengthen the “undervalued” rupiah.
  • Analysts expect near-term relief from the measures, but a meaningful rupiah rebound is unlikely amid external headwinds and fiscal worries.
March Labor Market Was Stable, if Sluggish

  • The Labor Department reported the job openings rate slipped to 4.1% in March, emphasizing low job market dynamism.
  • The hiring rate improved to 3.5% in March, the best in over a year, while the layoffs rate ticked higher to 1.2%.
  • The job market remained stagnant by historical standards, slipping into a low-hire, low-fire balance for over a year.
South Korea Inflation Hits 21-Month High in April

  • South Korea’s headline inflation accelerated to a 21-month high in April, rising 2.6% from a year earlier.
  • Petroleum product prices surged in April, with diesel jumping 31% and gasoline rising 21% from a year earlier.
  • The Bank of Korea, which kept rates on hold since May 2025, is now shifting toward a more hawkish stance.
U.S. Services-Sector Activity Continued to Expand in April

  • The U.S. services sector continued to grow in April, with the ISM purchasing managers index at 53.6, down from 54.0 in March.
  • The prices index remained at 70.7 in April, its highest level since October 2022, indicating persistent price pressures.
  • The employment index contracted for a second consecutive month, while 14 industries reported growth in April.
U.S. New Home Sales Rose in March

  • Sales of new single-family homes rose to 682,000 in March, exceeding economists’ expectations.
  • The median sales price of new houses sold in March was $387,400, down 5.3% from February.
  • The Commerce Department reported 481,000 new houses for sale in March, a decrease from February’s 483,000.
U.S. Trade Deficit Grew in March

  • The U.S. trade deficit rose to $60.3 billion in March, up from $57.8 billion in February, as imports grew faster than exports.
  • U.S. imports of cars and car parts rose by $3.6 billion, while crude oil exports increased by $2.8 billion in March.
  • The March figures show limited progress toward President Trump’s goal of reducing the deficit after his April 2025 tariffs.
SEC Proposes to Eliminate Quarterly Reporting Requirement for Public Companies

  • The Securities and Exchange Commission proposed amendments that would allow public companies the option to file reports semiannually.
  • Companies could file one semiannual report and one annual report, replacing three quarterly reports and one annual report.
  • The proposal aims to provide companies greater flexibility in choosing a reporting frequency that best serves their needs.
 

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