Guide to today’s important data and events

Not many economic dockets scheduled for today but many with high volatility risks associated.

Data released so far –

• Australia – Trade deficit improved to 1.58 billion in April as exports rose 1% and imports declined 1%. Retail sales rose 0.2%

• Japan – Consumer confidence came at 40.9 for May.

Upcoming –                                                                                                          

• OPEC members are meeting in Vienna today.

• Spain – unemployment change for May will be announced at 7:00 GMT.

• UK – Construction PMI will be announced at 8:30 GMT. Prior 52, expected 51.9

• Euro Zone – producer price index for April will be announced at 9:00 GMT. ECB will announce interest rate decision at 11:45 GMT, followed by press conference at 12:30 GMT.

• United States – ADP employment report will be announced at 12:15 GMT. Prior 156 K expected 178 K. ISM New York will be announced at 13:45 GMT. EIA will announce weekly natural gas and crude oil inventory report at 14:30 GMT and 15:00 GMT.

• Australia – AiG performance of services index will be released at 23:30 GMT.