Data due at the bottom of the hour
The economic calendar is light today but there are a couple notable releases due at 1230 GMT. The first quarter is ancient history at this point but the statistics bureaus are still combing through the details, including the current account balance. The latest revision is expected to show a $123.6 billion deficit compared to a $112.38 billion deficit in Q4. The numbers will be a key part of the third revisions to the Q1 GDP estimate, which is due June 29.
North of the border, the data is almost as stale. The April wholesale trade sales and inventories report is due and expected to rise 0.5% m/m. That's a solid pace but it's a slowdown from the +0.9% reading in March.
