RBA Raises Interest Rates to 4.35% Amid Rising Inflation Risks and Middle East Tensions 
OECD Sees Bank of Japan Raising Interest Rates to 2% by 2027 
Asian Stocks Steady as Iran War Concerns Persist Ahead of Trump-Xi Summit 
South Korea Central Bank Signals Cautious Policy Amid Inflation and Middle East Tensions 
Trump Faces Uphill Battle Seeking China’s Help on Iran Conflict 
Trump, Xi Begin High-Stakes China Summit Focused on Trade, Taiwan and Global Tensions 
Trump Says Iran Ceasefire ‘On Life Support’ as Oil Prices Surge Above $104 
Dollar Gains as Fed Rate Hike Bets Rise Ahead of Trump-Xi Summit 
Wall Street Futures Rise Ahead of Trump-Xi Summit as Tech Stocks Lead Market Rally 
Lots of economic data and events scheduled for today and some with high volatility risks associated.
Data released so far:
- China: Consumer price inflation rose by 1.2 percent y/y in April. Producer price inflation is up 6.4 percent.
Upcoming:
- Japan: Coincident index and leading economic index will be updated at 5:00 GMT.
- France: Trade balance for March will be reported at 6:45 GMT, along with Industrial output data and current account balance.
- Italy: Italy will release March Industrial output report at 8:00 GMT.
- Greece: Industrial production report for March will be reported at 9:00 GMT, along with consumer price inflation report.
- Portugal: March trade balance report will be released at 10:00 GMT, along with first quarter unemployment report.
- United States: MBA mortgage applications report will be released at 11:00 GMT, followed by terms of trade for April. EIA will release weekly crude oil inventory report at 14:30 GMT. Fed’s Rosengren is scheduled to speak at 16:00 GMT. April budget details will be reported at 18:00 GMT.
- New Zealand: RBNZ will announce interest rate decision at 21:00 GMT.
- Japan: March trade balance report will be released at 23:50 GMT.
- Auction: U.S. will auction 10-year note at 17:00 GMT.
