Economists polled by Reuters are expecting a 1.5% rise in exports in China, a reversal from the 7.5% fall seen in the past month.
Asia-Pacific markets were mixed ahead of China's April trade data, as well as pay statistics from Japan.
Separately, investors will assess pay statistics from Japan as they look for any signs of the"virtuous cycle" of increasing wages and prices envisioned by the Bank of Japan.Investors are also digesting a slew of Federal Reserve commentary. Boston Fed President Susan Collins said in remarks on Wednesday that the Fed's interest rate policy will likely need to remain at its current level until inflation is moving"sustainably" toward the central bank's 2% target.
Oil prices have fallen nearly 7% since reaching their April highs when traders bid up prices on fears that Iran and Israel would go to war. Investors have largely sold off the war premium since then, with Morgan Stanley removing $4 per barrel of risk from its oil price forecast for the year.Susan Collins, president of the Federal Reserve Bank of Boston, speaks during the National Association of Business Economics Economic Policy Conference in Washington, D.C., on March 30, 2023.
"The recent upward surprises to activity and inflation suggest the likely need to keep policy at its current level until we have greater confidence that inflation is moving sustainably toward 2 percent," Collins said in remarks at the Massachusetts Institute of Technology.
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