<?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />China government releases 11.1% rate of growth in the first quarter. Sparks volatility by delaying report till Asian market close.
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US Dollar continues to trade at record lows against the euro and sterling on expectations that US economic growth will continue to slow.
Japanese Yen makes gains on China led stocks. Asian outliers get hammered at the open as Nikkei loses 1.7% on the day.
Japan February tertiary industry index higher by 1.0% m/m, better than expected. Couples with Fukui commentary that consumer spending remains solid in boosting yen strength.
April Japan Tankan manufacturing survey remains unchanged at +28. Non-manufacturing improves 3 points to +26. Lends to speculation that Bank of Japan may raise rates after all.
Swiss April ZEW survey higher than expected, improves to -3.5 compared to consensus estimates of a -20.5 drop.
Canadian March consumer price index rises 0.8% on the monthly comparison, advances 2.3% on the annualized. Survey results lend to rate hike speculation supportive of Canadian dollar strength.
Australian April consumer inflation expectations rise 18.3%. Although bullish, figure remains below the previous months +21%.
