FOMC patient, May stubborn, Trump determined

In the FOMC minutes released today, the Fed reiterated its pledge to wait and see on interest rates. Phil Dobbie asks NAB’s Gavin Friend whether the market is as patient as the Fed. The major market moves have come from continued trade war concerns, with the US considering a Huawei treatment on other Chinese technology firms. There’s a heap of European data today, plus the EU elections. And for a while it looked like Theresa May was about to resign, now it looks like she might just hang on to the end of the month ie the end of May. Plus, the plight of the Aussie dollar and the PMI data out this morning.

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