- The Reserve Bank of Australia (RBA) will likely keep the cash rate at 4.35% for a fifth straight meeting as it tries to restrain consumer prices that have been underpinned by an ultra-tight employment market, economists surveyed by Bloomberg forecast.
- China’s Retail Sales improved 3.7% YoY in May from 2.3% in April, which is better than the estimate of 3.0%. Meanwhile, the nation’s Industrial Production rose 5.6% YoY in the same period, compared to the previous reading of 6.7%, below the consensus of 6.0%, the National Bureau of Statistics (NBS) showed Monday.
- The preliminary University of Michigan's Consumer Sentiment Index declined to 65.6 in June from 69.1, below the market consensus of 72.
- The UoM one-year Consumer Inflation Expectation held steady at 3.3%, while the five-year inflation outlook rose to 3.1% from 3%.
- Minneapolis Fed President Neel Kashkari said on Sunday that it is a “reasonable prediction” that the central bank will wait until December to cut interest rates. Kashkari added that the Fed is in a very good position to get more data before making any decisions.
- Cleveland Fed President Loretta Mester noted on Friday that she would like to see good-looking inflation data, adding that the path towards the Fed's 2.0% inflation goal may take longer than expected.
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