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 are mostly set to rise 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.is set to rise, with the futures contract in Chicago at 38,435 and its counterpart in Osaka at 38,380 against the index's last close of 38,202.37.Investors are also digesting a slew of Federal Reserve commentary.
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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