Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Canada Stocks Steady as Markets Await Fed and BoC Decisions 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
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.
