Australia's CPI is out on Wednesday

Australia's CPI is out on Wednesday. Lower fuel prices should help offset unfavorable Q1 seasonals to see a headline CPI rate of 0.2%q/q, 1.3%y/y. 

In underlying terms, whilst the broad rise in the price of tradable goods thanks to a weaker AUD will likely provide some pressure, the tepid pace of wage and unit cost growth should help keep the broader basket inflating at a modest pace. 

"We forecast the trimmed mean measure to be 0.4%q/q, 2.0%y/y", says RBC Capital Markets