China Inflation Data Due On Wednesday

China will on Wednesday release May figures for consumer and producer prices, highlighting a busy day for Asia-Pacific economic activity.

Consumer prices are predicted to fall 0.5 percent on month and rise 2.7 percent on year following the 0.9 percent monthly drop and the 3.3 percent yearly gain in April. Producer prices are tipped to sink an annual 3.3 percent after falling 3.1 percent in the previous month.

Indonesia will see April figures for retail sales; in the previous month, sales were down 4.5 percent on year.

Australia will provide June results for the consumer confidence index from Westpac Bank and April figures for home loans. In May, the consumer confidence index jumped 16.4 percent to a score of 88.1. In March, home loans were up 0.2 percent and investment lending fell 2.5 percent.

The Philippines will release April numbers for imports, exports and trade balance. In March, imports were down 26.2 percent on year and exports sank 24.9 percent on year for a trade deficit of $2.38 billion.

Japan will see April numbers for core machine orders and May figures for producer prices. Machine orders are tipped to slide 8.6 percent on month and 14.0 percent on year after easing 0.4 percent on month and 0.7 percent on year in March. Producer prices are expected to fall 0.3 percent on month and 2.4 percent on year after dropping 1.5 percent on month and 2.3 percent on year in April.

South Korea will provide unemployment data for May; in April, the jobless rate was 3.8 percent.

New Zealand will release Q1 data for manufacturing sales; in the three months prior, sales were up 1.5 percent on year.