It's a packed day on the data calendar, but will US politics once again be in the driver's seat?
Japan kicks it off at 2350GMT with the first Q1 GDP estimate
- GDP (seasonally adjusted) for Q1, preliminary, q/q: expected 0.5%, prior 0.3%
- GDP Annualized (seasonally adjusted) for Q1, preliminary y/y: expected 1.7%, prior 1.2%
- GDP Nominal (seasonally adjusted), preliminary q/q: expected 0.1%, prior 0.4%
- GDP Deflator y/y, preliminary: expected -0.7%, prior -0.1%. The deflator is an inflation indicator. Ugh. Moving right along ....
- GDP Consumer Spending preliminary q/q, expected is 0.5%, prior was 0.0%
- GDP Business Spending preliminary q/q: expected -0.4%, prior was 2.0%
At the same time the international securities flow for the week data will ht.
0100GMT - New Zealand - ANZ Consumer Confidence for May
- prior was down 2.8% m/m for its 3rd successive fall
0100GMT - Australia - Consumer Inflation expectations for May
- prior 4.1%
0130GMT - China property prices for April, a focus for China s they try to contain leverage and higher prices
0130GMT - Australia - Employment data for April. This would be a key focus today except for US politics taking centre stage. But maybe if they can all STFU for once over there this can take the limelight!
The jobs report from Australia is a bit of a monthly lottery, but for today:
- Employment Change: expected +5K, prior +60.9K
- Unemployment Rate: expected 5.9%, prior 5.9% 9edging higher, jobs growth has been slow)
- Full Time Employment Change, prior was 74.5K
- Part Time Employment Change, prior was -13.6K
- Participation Rate, expected is 64.7%, prior was 64.8%
I'll have more to come on this ahead of the release
Also at 0130GMT - Reserve Bank of Australia transaction data for April