Trump Administration Sued Over Suspension of Critical Hudson River Tunnel Funding 
RBA Expected to Raise Interest Rates by 25 Basis Points in February, ANZ Forecast Says 
Jerome Powell Attends Supreme Court Hearing on Trump Effort to Fire Fed Governor, Calling It Historic 
BOJ Rate Decision in Focus as Yen Weakness and Inflation Shape Market Outlook 
India Services Sector Rebounds in January as New Business Gains Momentum: HSBC PMI Shows Growth 
Stephen Miran Resigns as White House Economic Adviser Amid Federal Reserve Tenure 
Asian Markets Wobble as AI Fears Rattle Stocks, Oil and Gold Rebound 
Taiwan Urges Stronger Trade Ties With Fellow Democracies, Rejects Economic Dependence on China 
China and Uruguay Strengthen Strategic Partnership Amid Shifting Global Order 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
China Services PMI Hits Three-Month High as New Orders and Hiring Improve 
BOJ Policymakers Warn Weak Yen Could Fuel Inflation Risks and Delay Rate Action 
Japan Services Sector Records Fastest Growth in Nearly a Year as Private Activity Accelerates 
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.
