Event risk: eyes on RBA Tuesday - ANZ

Analysts at Westpac noted a low key events day today, but have eye son the RBA tomorrow.

Key Quotes:

"Event risk: Australia’s calendar is low key ahead of the RBA meeting tomorrow. The RBA releases Mar private sector credit data.

Markets in Japan and China are closed for a holiday. However, the official April China manufacturing and non-manufacturing surveys are due (11am Syd/9am local). Consensus is 51.3 and 54.5 respectively.

A very busy US data week kicks off with Mar personal income and spending. Markets will be mostly interested in the Fed’s preferred inflation gauge, the PCE deflator (prices of personal spending). Base effects should boost the annual inflation rates to 2.1% overall, 2.0% on the core measure. The Fed has mentioned this already so perhaps the monthly change is most important, seen up 0.2%mth on the core deflator.

Also due are April business surveys in the Chicago and Dallas regions, which should stay strong, and Mar pending home sales."