If y'all have had enough of Jay Powell and his hijinks, here is what is coming up on the data agenda for the session ahead.

0130 GMT Australian Building Approvals for March 2022

  • expected -12.5% m/m, prior +43.5% (yes, +43.5%, really)

  • prior -7.8%

0130 GMT Australia's trade balance for March 2022

  • expected 8500mn surplus

  • prior 7457mn surplus

  • exports expected 2.9%, prior 0%

  • import expected -4.5%, prior 12%

0145 GMT China Caixin/Markit PMIs Services and Composite for April

  • Services expected 40, prior 42

  • Composite prior 43.9

Over the weekend we had the official PMIs from China for April, along with the Caixin manufacturing PMI:

China PMIs for April 2022 have been published - all are well into contraction

  • Manufacturing 47.4 vs. expected 48.0, prior 49.5
  • Non-manufacturing 41.9 vs. prior 48.4
  • Composite 42.7 vs. prior 48.8

All the PMIs released from China on Saturday showed further sharp contraction