Goldman Sachs expects that the Reserve Bank of Australia will announce 75-bps worth of rate hikes before reaching a terminal rate. Australia’s trade minister indicated that a path is being sought to solve all trade disputes with China.
Australia’s Q1 GDP 0.2% qtr/qtr (expected 0.3%; last 0.6%); 2.3% yr/yr (expected 2.4%; last 2.6%).
May AIG Manufacturing Index -5.1 (last -20.2) and May AIG Construction Index -6.6 (last -12.4).