Tokyo inflation, China PMIs and RBA minutes due in Asia on Tuesday

Markets in Asia will focus on a busy Tuesday calendar that includes Tokyo consumer price data, China’s official purchasing managers’ indexes and minutes from the Reserve Bank of Australia’s March meeting. The Tokyo inflation reading is watched closely as an early guide to Japan’s broader price trends, with national figures typically following about three weeks later. Headline inflation in Tokyo is expected to be unchanged from February in March.

China will release its official March PMIs, with a modest improvement expected. The non-manufacturing gauge is still forecast to remain in contraction, keeping attention on the health of activity in the world’s second-largest economy. China also publishes a private-sector PMI, which tends to focus more on smaller firms and can offer a different view of conditions in the manufacturing sector.

Later in the day, the RBA minutes will be examined for details on the central bank’s March decision to deliver a second consecutive 25 basis point rate increase after February’s move. Investors will look for signs of how policymakers weighed stronger domestic demand and inflation against the risk from higher energy prices and broader growth pressures. Markets are largely expecting another rate hike in May.

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Source: KLEA News