Coming up on the data agenda for the Asian session ahead:
0030 GMT Australia – Westpac Consumer Confidence Index for May
prior -0.9% m/m
the weekly consumer confidence surveys have shown persistent net pessimism, this monthly indicator will confirm
Of more focus is:
0130 GMT China inflation figures for
China CPI expected 0.2% y/y, prior 0.0%
PPI expected 7.7% y/y, prior 8.3%
The PPI has been sitting at elevated levels but, so far, flow-through to consumer price rises has not been notable
Low CPI leaves plenty of space for further People's Bank of China monetary supportive measures.
