Retail sales in Japan probably rebounded in April

A rebound in retail sales in April (00.50 BST) looks very likely following the outsized 1.9% m/m plunge in March, and Capital Economics have pencilled in a 1.0% m/m rise. 

Meanwhile, the annual rate should have jumped into positive territory last month, reflecting the slump in spending following the sales tax hike a year ago. However, more attention needs to be paid to the data on household spending, due on Friday, as they have provided better indications on changes in private consumption in recent quarters.