ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Lots of economic data and events scheduled for today, and some with high volatility risks associated.
Data released so far:
- China: House price index rose by 4.7 percent y/y in April, down from 4.9 percent.
- Australia: Wage price index grew 0.5 percent in Q1, up 2.1 percent y/y.
- Japan: Industrial production up 1.4 percent in March, up 2.4 percent y/y in March.
Upcoming:
- Germany: Consumer price inflation for April will be released at 6:00 GMT.
- Italy: Industrial orders and sales report will be released 8:00 GMT, followed by CPI inflation report at 9:00 GMT.
- Eurozone: CPI inflation report will be released at 9:00 GMT. ECB President Dragi is set for a speech at 12:00 GMT, Coeure at 12:30 GMT, and Praet at 14:30 GMT.
- United States: MBA mortgage applications report will be released at 11:00 GMT, followed by housing starts and building permits report 12:30 GMT. FOMC member Bostic is set for a speech at 12:30 GMT. Industrial production report will be released at 13:15 GMT. EIA will release weekly crude oil report at 14:30 GMT. Fed’s Bullard is set for a speech at 22:30 GMT.
- New Zealand: producer price inflation report will be released at 22:45 GMT.
- Japan: Machinery orders report will be released at 23:50 GMT/
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