The US PPI will come out on Thursday, May 12, at 15:30 MT time.
South Korea GDP tacks on at the fastest pace in 7 years
The previous quarter South Korea's economy demonstrated the fastest surge for seven years because global demand for South Korean electronics more than compensated the influence of regional geopolitical strains on trade and also spurred hopes for an imminent interest rate hike.
The country’s GDP edged up 1.4% during the third quarter from last one, as preliminary numbers from the Bank of Korea revealed on Thursday, considerably surpassing the 0.8% forecast in a Reuters poll, marking the greatest leap since a 1.7% rally during the second-quarter of 2010. As a matter of fact, year-on-year surge managed to accelerate to 3.6% in the third quarter from the second quarter’s outcome of 2.7%, also confounding forecasts.
The upbeat numbers show that Asia's number fourth economy has been capable of brushing aside the impact of a diplomatic conflict between South Korea and China over an American missile defense system as well as wider concerns as for North Korean military provocations.
The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.