Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Sizable economic data and events scheduled for today, and some with high volatility risks associated.
Data released so far:
- New Zealand: RBNZ kept the monetary policy rate unchanged at 150 bps at today’s meeting.
- China: Trade balance dropped sharply to $13.84 billion in April as exports declined 2.7 percent y/y in April from 14.2 percent y/y in March and imports rose to 4 percent y/y from -7.6 percent in March.
Upcoming:
- Switzerland: Unemployment report will be released at 5:45 GMT.
- Germany: March industrial production report due at 6:00 GMT.
- United Kingdom: Halifax house price report due at 7:30 GMT. BoE’s Ramsden is set for a speech at 8:15 GMT. RICS house price balance report 23:00 GMT.
- Eurozone: European Central Bank (ECB) will hold its non-monetary policy meeting today. ECB President Draghi set for a speech at 11:30 GMT.
- United States: MBA mortgage report due at 11:00 GMT. EIA will release its weekly natural gas inventory report at 14:30 GMT. Fed’s Brainard set for a speech at 12:30 GMT.
- Canada: Housing starts numbers will be released at 12:15 GMT.
- Auction: The U.S. will auction 10-year notes at 17:00 GMT.
