Today’s highlights include CPI from Switzerland along with Manufacturing and Industrial Production from the UK. Given the importance of referendum polls right now, we are not anticipating a trading opportunity from the UK figures, however ordinarily we would. Today’s main event however, early in the Asia-Pacific session will be the latest RBNZ Cash Rate and Rate Statement.
The Asia-Pacific session saw Japan GDP meet estimates at 1.9% annualised and 0.5% q/q for Q1, both revised up from preliminary readings of 1.7% and 0.4% respectively. Yen initially rallied as expectations of further easing decreased with the upward revisions, but the moves have largely been retraced.
China Trade Balance showed exports declined -4.1% versus -4.2% expected, and imports -0.4% versus -6.8% expected. The Aussie edged up 30 pips on the back of the smaller than expected decline in imports and improvement from April reading.
Manufacturing Production, Industrial Production, and the RBNZ Cash Rate and Rate Statement, were all covered in this week’s weekly risk event video here.
Source:: RBNZ Cash Rate | Current Sentiment