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Wednesday is a relatively slow day, with important reads out of South Korea and Japan. In the U.S., investors will have producer prices and retail sales for sentiment.Here’s what you need to know.
- South Korea starts things off at 7:00 p.m. on Tuesday evening with May’s unemployment reading. Expectations are for no change in the jobless report, remaining at 3.4 per cent.
- Japanese machine orders hits at 7:50 p.m., with expectations for a 1.6 per cent sequential gain in April.
- Australian Westpac consumer confidence for June follows at 8:30 p.m.
- Announcements go quiet until 1:30 a.m. on Wednesday morning, when France will release its May CPI report. Economists project the rate will show zero growth month-on-month.
- German consumer prices follow at 2:00 a.m. with expectations for a 0.2 per cent decline in May.
- Spanish and Italian inflation rates follow at 3:00 and 4:00 a.m., respectively. Both readings are forecast to show no change in May.
- Eurozone industrial production is scheduled for 5:00 a.m., with expectations for a 1.2 per cent decline in April.
- Attention shifts to the U.S. at 8:30 a.m. with producer prices. Economists forecast May PPI fell 0.6 per cent.
- Retail sales will also be announced at 8:30 a.m. Projections are for sales excluding autos and gas to show a 0.4 per cent improvement in May.
- Closing out the day is a reading of business inventories at 10:00 a.m., which is seen increasing 0.3 per cent in April.
Consensus estimates provided by Bloomberg. All times are in Eastern Standard Time.
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