Japanese index futures dropped after U.S. shares retreated before an update on the world’s largest economy, while crude oil rebounded. The euro held declines amid speculation over the outlook for European stimulus, as New Zealand’s dollar traded near an 11-week low.
Nikkei 225 Stock Average futures were bid in the Osaka pre-market 0.3 percent below yesterday’s close, as the NZX 50 Index fell 0.1 percent by 11:43 a.m. in Wellington. Standard & Poor’s 500 Index futures were little changed after the gauge slipped 0.1 percent from a record.
The kiwi was steady at 84.95 U.S. cents after sinking 0.8 percent last session, and the euro was near a three-month low. Oil in New York rose 0.2 percent as industry data showed a drop in inventories at Cushing, Oklahoma.
Japan is projected to post the first monthly decline this year in retail sales, ahead of inflation data due tomorrow. The focus then shifts to the U.S. gross domestic product report, with economists predicting an initial reading of growth will be revised to a contraction for the first quarter.
European bonds rose yesterday, burnishing the relative appeal of U.S. debt, after German jobless and euro-area money supply data stoked bets the European Central Bank will act to boost inflation.
Source : Bloomberg