Coming up on the data agenda for the Asian session ahead:
GMT Australia – Westpac Consumer Confidence Index for May
prior -0.9% m/mthe weekly consumer confidence surveys have shown persistent net pessimism, this monthly indicator will confirmOf more focus is:
0130 GMT China inflation
China CPI expected 0.2% y/y,
PPI expected 7.7% y/y, prior 8.3%The PPI has been sitting at elevated levels but, so far, flow-through to consumer price rises has not been notableLow CPI leaves plenty of space for further People’s Bank of China monetary supportive measures.