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Daily Roundup of Key US Economic Data for May 19

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The National Association of Realtors' pending home sales index rose by 1.4% in April, above expectations after a 1.7% gain in the previous month and despite higher mortgage rates.

NAR said that sales will likely be higher once rates come back down again. Pending sales were up 3.2% from a year earlier.

Redbook reported that US same-store retail sales were up 8.1% year-over-year in the week ended May 16, slower than a 9.6% gain in the prior week with sales slower earlier in the week before picking up at the end of the week.

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RBA Monetary Policy Committee Discussed Under-Pricing of Downside Risks of Middle East Conflict by Financial Markets, Minutes Show

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International

Australian Consumer Confidence Rises as Inflation Expectations Ease

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ASX 200
International

Market Chatter: India Mulls Raising Import Duty on Vegetable Oils

India is said to be looking at raising import duties on vegetable oils at the request of the domestic players, according to a Bloomberg report on Tuesday, citing sources.India is a major importer of vegetable oil, as it imports about 60% of its edible oil needs, the report said.The government is now evaluating whether higher taxes would help local farmers to get higher prices for their crops, said the sources cited in the report, adding that no decision on the matter has been taken yet.The discussion comes amid a series of measures being taken by the Indian government to restrict foreign exchange outflows to protect the weakening rupee and forex reserves.Prime Minister Narendra Modi recently requested citizens to restrict their purchase of imported goods such as vegetable oils, fertilizers, gold, and crude oil, to conserve foreign exchange.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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