ECB Expected to Hold Rates as Middle East Tensions Keep September Hike in Focus 
Australia Inflation Cools as Core CPI Misses Forecasts, Easing RBA Rate Hike Pressure 
China Holds Loan Prime Rates Steady for 14th Month as Economic Recovery Remains Uneven 
RBA Signals More Rate Hikes Possible as Australia Battles Stubborn Inflation 
BOJ Minutes Signal More Rate Hikes as Inflation Risks Grow 
BOJ Rate Hike Expectations Rise Ahead of September Meeting 
Lots of economic data and events scheduled for today, and some with high volatility risks associated.
Data released so far:
- China: House price index rose by 4.7 percent y/y in April, down from 4.9 percent.
- Australia: Wage price index grew 0.5 percent in Q1, up 2.1 percent y/y.
- Japan: Industrial production up 1.4 percent in March, up 2.4 percent y/y in March.
Upcoming:
- Germany: Consumer price inflation for April will be released at 6:00 GMT.
- Italy: Industrial orders and sales report will be released 8:00 GMT, followed by CPI inflation report at 9:00 GMT.
- Eurozone: CPI inflation report will be released at 9:00 GMT. ECB President Dragi is set for a speech at 12:00 GMT, Coeure at 12:30 GMT, and Praet at 14:30 GMT.
- United States: MBA mortgage applications report will be released at 11:00 GMT, followed by housing starts and building permits report 12:30 GMT. FOMC member Bostic is set for a speech at 12:30 GMT. Industrial production report will be released at 13:15 GMT. EIA will release weekly crude oil report at 14:30 GMT. Fed’s Bullard is set for a speech at 22:30 GMT.
- New Zealand: producer price inflation report will be released at 22:45 GMT.
- Japan: Machinery orders report will be released at 23:50 GMT/
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