ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence 
RBA Expected to Raise Interest Rates by 25 Basis Points in February, ANZ Forecast Says 
Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
MAS Holds Monetary Policy Steady as Strong Growth Raises Inflation Risks 
Lots of economic dockets and events scheduled for today and some with high volatility risks associated.
Data released so far:
- Australia: Producer price inflation grew by 1.3 percent in the first quarter from a year ago. Private sector credit grew 5 percent y/y in March.
- New Zealand: ANZ business confidence in April marginally declines to 11. ANZ activity outlook marginally declines to 37.7 percent.
- Japan: Housing starts grew by 0.2 percent in March, from a year ago. Construction orders grew by 1.1 percent from a year ago.
Upcoming:
- France: First quarter GDP numbers will be released at 5:30 GMT. Flash consumer price inflation for April, producer price inflation for March, and consumer spending data will be released at 6:45 GMT.
- Germany: Retail sales report and import price data for March will be released at 6:00 GMT.
- United Kingdom: Nationwide house price report will be released at 6:00 GMT. BBA mortgage report will be released at 8:30 GMT, along with first quarter flash GDP.
- Spain: Retail sales report and first quarter flash GDP report will be released at 7:00 GMT, followed by current account balance at 8:00 GMT.
- Switzerland: KOF leading indicator will be updated at 7:00 GMT. SNB chairman Jordon is scheduled to speak at 8:00 GMT.
- Eurozone: Money supply and loans report will be released at 8:00 GMT, followed by flash consumer price inflation report for April at 9:00 GMT.
- Italy: Consumer price inflation report will be released at 9:00 GMT. Producer price inflation report will be released at 10:00 GMT.
- Greece: Producer price inflation report for March will be released at 9:00 GMT.
- United States: First quarter GDP report will be released at 12:30 GMT. Chicago PMI report for April will be released at 13:45 GMT, followed by Michigan consumer sentiment report at 14:00 GMT.
- Canada: Raw material price and industrial product price report will be released at 12:30 GMT, along with February GDP numbers.
