Reserve Bank of
Australia decision day. All bar one analyst surveyed is expecting the
RBA to cut its cash rate by 25 bps. I'm gonna join the bandwagon
even though my faith is Dr. No Lowe to do anything is not high.
OK, from the top.
2245 GMT New Zealand terms of trade for Q1
- expected 0.5%
- prior -3.0%
- The recovery in dairy prices globally will go a long way to turning this positive for the January to March quarter. Improving ToT is a positive input for the NZ dollar.
2301 GMT UK data - BRC sales (like for like basis) expected +0.8%, prior +3.7%
2330 GMT Australia consumer sentiment for the week
- ANZ/Roy Morgan weekly survey
- prior up to 118.6
2350 GMT Japan monetary base data for May
0130 GMT from Australia, a couple of data points
Q1 Balance of payments
- the thing to watch in this is 'net exports as a % of GDP' (expected 0.2, prior -0.2) which will go into the GDP data for Q1 (the GDP data is due Wednesday June 5)
Retail Sales for April
- expected 0.2, prior 0.3%
- I'll have more to come on this separately
0430 GMT Reserve Bank of Australia cash rate decision and Governor Lowe's accompanying statement
- I'll have more to come on this separately
Welcome to June 4 2019, 30 years since the awful Tiananmen Square massacre.
