2230 GMT Australia services PMI

  • from the Australian Industry Group for May
  • prior 46.5. Ugly. Services is the biggest part of the Australian econmy and its PMI is in contraction.

2300 GMT Australia services PMI (yep, another one)

  • from CBA/Markit
  • final for May
  • flash was 52.3
  • prior was 50.1

Also, their composite PMI final for May

  • flash was 52.2
  • prior was 50.0

0030 GMT more PMI! From Japan, for May

  • services, prior 51.8
  • composite, prior 50.8

0130 GMT Australia, Q1 GDP

  • expected 0.5% q/q, prior 0.2%
  • expected 1.8% y/y, prior 2.3%. Lowe was VERY late to the (not a) party with his rate cut yesterday. GDP growth way below potential. Too tight monetary policy is not the only reason, but it didn't help. RBA in catch up mode now.
  • I'll have more to come on this separately.

0130 GMT Reserve Bank of Australia Alexandra Heath, Head of Economic Analysis speech, the topic is - Australia's Resource Industry - A Look into the Crystal Ball …. (Let's hope that one is working.)

0145 GMT China - Caixin/Markit services and composite PMIs

Services:

  • expected 54.0, prior 54.5

Composite:

  • prior 52.7