THIS WEEK’S MARKET-MOVING EVENTS (all days local)
The week is expected to open with no further cuts in China’s loan prime rates on Monday. The Bank of Japan on Friday isn’t expected to further raise rates though this is the expectation for subsequent meetings.
Key inflation data aren’t expected to show much if any moderation, whether Australian consumer prices on Wednesday or the US PCE price indexes on Friday. Yet there is an expected exception and that’s Tokyo consumer prices on Friday where underlying rates are expected to cool.
The first estimate for first-quarter US GDP on Thursday is expected at 2.3 percent annualized growth, down from the fourth quarter but still more than respectable. April’s run of PMI flashes are expected to improve but only slightly with services generally above 50 but manufacturing generally below this breakeven level….Econoday