Not much on the data docket in the session ahead
Good day, everyone! Hope you're all doing well as we look to get things going in European trading in just about a couple of hours. Markets are holding steady for the most part as the US says that they will ease up on Huawei sanctions for a bit, though it's really just a temporary relief rather than a major turn in sentiment.
But the more notable headline this morning comes from the RBA as governor Philip Lowe pretty much sealed the deal for a rate cut on 4 June. I wouldn't say it's a home run just yet, but it is a good guess that they will do so given Lowe's commentary.
The session ahead promises little in terms of notable/key data releases so once again, it'll be all about the ebb and flow in trading today.
1000 GMT - UK CBI May trends total orders, selling prices
Prior release can be found here. Readings above 0 indicates optimism while below indicates pessimism. The headline is a survey on manufacturers to rate the level of volume for orders expected during the next 3 months. A minor data point.
And just in case you're wondering, the UK inflation report hearing in parliament between the Treasury and BOE has been postponed to a later date:
So, that's about it for the session ahead. I wish you all the best of days to come and good luck with your trading!
