China reported better than expected trade figures for May. South Korea’s Finance Minister Choo said that the new government’s economic policies will be announced next week and that all efforts will be made to stabilize prices. The Commonwealth Bank of Australia expects the Reserve Bank of Australia to begin cutting rates in 2023.
China’s May trade surplus $78.76 bln (expected surplus of $58.00 bln; last surplus of $51.12 bln). May Imports 4.1% yr/yr (expected 2.0%; last 0.0%) and Exports 16.9% yr/yr (expected 8.0%; last 3.9%)
Japan’s May Machine Tool Orders 23.7% yr/yr (expected 27.0%; last 25.0%)