WE started off the month of May on a relatively quiet note; China and UK banks were closed in observance of Labour Day while Japan observes Greenery Day and Children’s Day on May 3 and 4 respectively. In the US, Amazon’s first-quarter sales and earnings exceeded expectations – in part fuelled by the third round of US stimulus cheques which likely contributed to rise in online shopping activity due to the Covid-19 pandemic. Thus, the country reported a better than expected consumer spending data for March 2021.
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