Here is what’s on the economic calendar in Asia today – its RBA day!

2200 GMT New Zealand
government financial statements (surplus etc.)

2230 GMT Australia
services PMI for May

• this is the Australian Industry Group (AiG) Performance of Services Index
• prior 55.2

This will be
followed by, at ….

2300 GMT the CBA /
Markit services PMI for May for Australia  

• Services prior 55.2
• Composite prior 55.3

2301 GMT UK BRC
retails sales indicator (like-for-like) for May

2330 GMT Australia
weekly consumer confidence from ANZ / Roy Morgan

2330 GMT Japan April
household spending

• expected +0.8% y/y,
  prior -0.7%

0030 GMT Japan
Nikkei / Markit PMIs for May

• Services prior 52.5
• Composite prior 53.1

0130 GMT Australia
Balance of Payments Current Account for Q1

• An input into the Q1 GDP data
• expected AUD -9.9bn, prior AUD -14.0bn
• Net exports also.

I’ll have more to
come on this separately (these inputs to GDP are very much worth
keeping an eye on, AUD surged the past 24 hours, the inventory input
was part of the catalyst driving the buying)

0145 GMT China
private survey PMIs for May

• Services expected 52.9, prior 52.9
• Composite prior 52.3

0200 GMT New Zealand
monthly economic indicators from government Treasury

And (drumroll
please), coming up at 0430 GMT the Reserve Bank of Australia
announcement

• Cash rate will be left unchanged at 1.5%
• Eyes will be on the
  statement for changes in tone and nuance

I’ll have more to
come on this separately