Bank of Japan Unveils New Inflation Gauge to Support Case for Future Rate Hikes 
Fed Holds Rates Steady as Middle East Conflict Clouds Inflation Outlook 
China Holds Benchmark Loan Prime Rate Steady for Tenth Consecutive Month 
J.P. Morgan Now Expects Two ECB Rate Hikes Amid Inflation Pressures 
RBA Set for Back-to-Back Rate Hikes, Westpac Forecasts 
Bank of Japan Officials Signal Continued Interest Rate Hikes Amid Inflation Concerns 
Lots of economic data and events scheduled for today and some with high volatility risks associated.
Data released so far:
- Australia: Imports declined by 1 percent in April, while exports declined by 8 percent.
- China: Exports in dollar terms rose by 8.7 percent y/y in May, while imports grew by 14.8 percent. Trade balance for May came at $40.81 billion.
Upcoming:
- Switzerland: The unemployment rate for May will be published at 5:45 GMT, followed by consumer price inflation report at 5:45 GMT.
- Germany: Industrial production report for April will be released at 6:00 GMT.
- France: Trade balance report for April will be published at 6:45 GMT.
- Greece: Unemployment report for March will be published at 9:00 GMT.
- Eurozone: 1st quarter GDP report will be published at 9:00 GMT. ECB will announce interest rate decision at 11:45 GMT, followed by a press conference at 12:30 GMT.
- Canada: Housing starts report for May will be published at 12:15 GMT. New house price index will be updated at 12:30 GMT. BoC will release Financial Systems review report at 14:30 GMT, followed by Governor Poloz’s speech at 15:15 GMT.
- United States: Weekly jobless claims report will be published at 12:30 GMT. EIA will release weekly inventory report at 14:30 GMT.
