Morning Market Update – Quiet Start for the Week

New Zealand Retail Sales (QoQ) registered at 1.5%, above expectations (0.9%) in the first quarter.

New Zealand Retail Sales ex Autos (QoQ) increased to 1.2% in the first quarter from previous 0.6%

Japan Domestic Corporate Goods Price Index (MoM) registered at 0.2%, above expectations (-0.1%) in April. According to the official data that was released today, Japan April Producer Price Index (PPI) increased by 2.1% year on year, and came in above the estimate of 1.8%.

Australia Investment Lending for Homes: 0.8% (March) vs -5.9%

Australia Home Loans below forecasts (0%) in March: Actual (-0.5%)

The People’s Bank of China (PBOC) set the Yuan mid-point rate at 6.8852 vs. the Friday’s fix of 6.8948.

Moving on for the day, we await Swiss data release for Producer and Import Prices on (MoM) and (YoY) and both seem to be holding the previous levels and better results coming out should boost the Swiss for the day.

The only other major news for the day is for the greenback with NAHB Housing Market Index. With no important news at the start of the week, we expect the market to wait for some action before any impact occur.
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