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Australia Rate Decision On Tap For Tuesday

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The Reserve Bank of Australia will wrap up its monetary policy meeting on Tuesday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The RBA is widely expected to keep its benchmark lending rate steady at 0.1 percent.

Australia also will see March data for the Performance of Construction Index from AiG; the services and composite PMIs from S&P Global; and the inflation forecast from TD Securities and the Melbourne Institute.

In February, the construction index score was 53.4; the services index was at 57.4 and the composite came in at 56.6. The inflation forecast suggested a monthly increase of 0.5 percent.

Japan will see February figures for household spending and March results for the services and composite PMIs from Jibun Bank. In January, household spending fell 1.2 percent on month and gained 6.9 percent on year. In February, the services PMI was at 44.2 and the composite was at 45.8.

South Korea will provide March figures for consumer prices. Inflation is expected to rise 0.4 percent on month and 3.8 percent on year after gaining 0.6 percent on month and 3.7 percent on year in February.

Singapore will release February figures for retail sales; in January, sales were down 2.5 percent on month and up 11.8 percent on year. Singapore also will see March results for its private sector PMI from S&P Global; in February, the index score was 52.5.

Thailand will provide March numbers for consumer prices; in February, overall inflation was up 1.06 percent on month and 5.28 percent on year, while core CPI rose an annual 1.8 percent.

The Philippines will see March data for consumer prices; in February, overall inflation was flat on month and up 3.0 percent on year, while core CPI also rose an annual 3.0 percent.

Finally, the markets in Taiwan and China (Qingming Festival) and Hong Kong (National day) are closed on Tuesday and will re-open on Wednesday.

Dollar Holds Steady On Rate Hike Hopes

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