It’s a busier day on Friday with the FED’s preferred May inflation figures, personal spending and Chicago PMI numbers due out. Through the 2nd half of the week, prelim June inflation numbers for Spain, Germany, France, Italy, and the Eurozone will also provide direction. The economy held up well in the 1st quarter, suggesting that the RBNZ may hold steady until there is greater clarity on the timing of a FED rate cut.