The cupboard is not quite bare – we’re expecting the very important Chinese trade data up at 0200GMT.
2301GMT UK BRC Retail Sales Monitor for April. Prior was +1.9% y/y and expected is +1.9% y/y.
0005GMT Officials from the Reserve Bank of New Zealand appear in the New Zealand parliament in front of the Select Committee on Financial Stability to discuss the Financial Stability Report. This was released at 2100GMT, accompanied by a press conference from Governor Wheeler and deputy Spencer. Wheeler took the opportunity to again state that the NZD was overvalued (see earlier posts reporting his comments). I imagine he’ll be saying the same sort of things again.
0200GMT China Trade Balance and import and export numbers:
- The April trade balance is expected to come in at +$16.15bn (prior was -$0.88bn)
- Exports for April are expected at +9.2% (vs. +10.0% prior)
- Imports for April are expected to come in at +13.0% (after a prior of +14.1% in March)
