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.
Fed officials are chatty again today, starting with hawk Mester speaking at the ECB around the Sydney close, followed by Kaplan (again) and Brainard (again) during NY trade.
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.”