Welcome to the May edition of the Market Update. 
The recovery in equity and commodity prices continued in April helped by reasonable economic data and commentary from central banks, whilst oil prices continued to move higher, up another 20% in April.
In the United States GDP growth was disappointing for the quarter, whilst GDP was stronger than expected in Europe.
China quarterly growth figures were reasonably solid, whilst in Japan deflation pressures continued with CPI falling 0.1% year-on-year.
At home the RBA cut the cash rate from 2% to 1.75% and Australian business conditions and employment levels remained strong.
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