Analysts at Westpac noted the key events ahead.
"Australia’s data calendar is quiet for the next few days. Japan releases Apr national CPI data, with consensus for 0.7%yr overall, 0.4%yr ex-fresh food and energy. This is so far from the Bank of Japan’s 2% target that it hardly matters if the data surprises in either direction.
There is plenty of risk for CAD in the NY morning: Apr CPI and Mar retail sales. Consensus is for retail sales ex-autos to rebound by 0.5% after a flat Feb, while CPI is seen up 0.3%mth, 2.3%yr, a little lower on the core measures."
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