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JPY weakens after Japan Econ Min Amari clarifies position on yen correction; AUD gains on neutral policy bias in RBA minutes   
Tue, 21 May 12:55 AM EST/05:55 AM GMT
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Economic Data
- (AU) AUSTRALIA RBA POLICY MINUTES FOR MAY MEETING: Decided some easing scope should be used at the May meeting
- (AU) AUSTRALIA MAR CONFERENCE BOARD LEADING INDEX: 0.1% V 0.3% PRIOR (3rd consecutive increase)
- (NZ) NEW ZEALAND Q2 RBNZ 2-YEAR INFLATION EXPECTATION: 2.1% V 2.2% PRIOR (multi-year low)
- (NZ) NEW ZEALAND APR CREDIT CARD SPENDING M/M: +0.4% V -0.3% PRIOR; Y/Y: 4.0% V 3.7% PRIOR
- (NZ) NEW ZEALAND APR NET MIGRATION: 1.6K V 1.3K PRIOR

Markets Snapshot (as of 03:30 GMT)
- Nikkei225 +0.1%
- S&P/ASX -0.7%
- Kospi -0.2%
- Shanghai Composite -0.1%
- Hang Seng -0.4%
- Jun S&P500 -0.1% at 1,663
- Jun gold +0.3% at $1,384/oz
- Jul crude oil -0.1% at $96.88/brl

Observations/Insights
- Asian equity markets traded on a more cautious tone, with bullish momentum stalling ahead of the critical testimony by Fed Chairman Bernanke and the next decision on monetary policy from the Bank ...
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