Spain: Apr Markit Services PMI down to 44.4 from 45.3 in Mar

Australian retail sales disappointed at the headline level, down –0.4% in March (consensus +0.1%), but a jump in sales volumes (+2.2% in Q1) bodes well for Q1 GDP, according to TD Securities analysts: “We see today’s report as, at the margin, supporting the case for another month of ‘wait and see’ for the RBA”, wrote analyst Alvin Pontoh, adding that swap markets still price in 50-50 on a rate cut tomorrow.