SCOREBOARD: Currency infatuation

It's a dim start to the week following disappointing US data, while the Aussie dollar is likely to dominate tomorrow's Reserve Bank meeting.

A pretty decent sell-off for equities and commodities on Friday night doesn’t suggest a great start to our week. Part of the problem was some disappointing US consumer spending statistics for April, which showed spending down 0.2 per cent – worse than the expectation for a flat outcome. Incomes growth flatlined in the month as well and other data out wasn’t sufficient to offset it.

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