NZD traders will see some data today (and later tonight the dairy auction)

2100 GMT New Zealand REINZ house sales data for June

2245 GMT New Zealand inflation data for Q2 of 2018 (April to June)

  • expected 0.5% q/q, prior 0.5%
  • expected 1.6% y/y, prior 1.1%

I posted a preview here yesterday:

Just adding this now from BNZ on what they expect:

  • While New Zealand's CPI release is always closely watched, we sense an added interest, and nervousness, about this week's one - Tuesday's update for the June quarter. The median expectation of analysts is for an increase of 0.5%. This would lift annual CPI inflation to 1.6% from the 1.1% it dipped to in Q1. For comparison, the RBNZ's May Monetary Policy Statement expected a quarterly increase of 0.4%, for 1.5% y/y. For the record, we anticipate 0.6% q/q, for annual CPI inflation of 1.7% (and on course for 2.2% by end-2018).
  • Of course, it will also be important, as usual, to check the various core inflation measures. The annual sectoral-factor version, as produced by the RBNZ, still has prominence in this regard, although it is rare for it to change much, when it does in fact budge. But also keep an eye on the non-tradables component of sectoral factor inflation, as this provides insight into underlying inflation trends. These figures are due from 3:00pm on CPI day.

Note what BNZ says here at the end - more inflation data comes later in the session, direct from the RBNZ model. Stay tuned for that (due at 0300GMT)

0110 GMT Bank of Japan buying Japanese Government Bonds

  • 1-3 and 3-5 years until maturity

0130 GMT Reserve Bank of Australia minutes from the July meeting

I'll have more to come on this separately but I had a few preview comments posted here yesterday:

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Above I mentioned the dairy auction, that will happen during London time, I'll come back with a quickie preview of it a little later.