Guide to today’s important data and events

Not many economic dockets scheduled for today and risk associated with data is low.

Data released so far -

• Japan - Capacity utilization dropped in April by -0.4%, after -1.2% drop in March and industrial production just grew by 0.1% in April from a year ago, however it is up 1.2% on monthly basis.
  
  
• Germany - Wholesale price index rose 0.5% m/m, still down by -0.4% from a year ago in May.
  
  
• Spain - HICP inflation rose 0.4% m/m, but down -0.3% from a year ago in May.

Upcoming -

• Euro zone - Industrial production for April will be declared around 9:00 GMT. Market is expecting growth of 0.3% on monthly basis in April and 1.1% on yearly basis. In March, though production grew 1.8% from a year ago, it dropped -0.3% on monthly basis.

• India - RBI will declare stat on FX reserve at 11:30 GMT. Prior was $351.6 billion. Ministry of finance likely to declare manufacturing and industrial output for April. Manufacturing output grew by 2.2% in March, while industrial output grew by 2.6%.

• US - Producer price index for May is scheduled at 12:30 GMT. Median expectation is of 1.1% drop in May after -0.8% drop in April. Preliminary reading for Michigan consumer sentiment to be released at 14:00 GMT.