Quick Overview

• U.S. consumer price index rose 0.4% in April and 2.6% YoY. Excluding food and energy costs, prices were up 0.2% in April and up 2.3% YoY.
  

• New York Federal Reserve's index of manufacturing increased from 3.80 to 8.03 in May.
  

• The National Association of Homebuilders said that its index of homebuilder confidence dropped from 33. to 30 in May, the most pessimistic reading in 15 years.
  
  

• GDP in the Euro area rose 0.6% in the first quarter and 3.1% YoY,
  

• YoY Consumer prices in the U.K. rose 2.8% in April
  

• Japan's machinery orders were down 4.5% in March, weaker than expected.
  

• YoY Indonesia's GDP was up 6.0% in the first quarter
  

• India may consider raising the ethanol content in its gasoline blends to 10% from the current 5%.
  

• Czarnikow expects world sugar production at 162.7 million tons in 2006-2007, exceeding consumption by 6.9 million tons.