Australian retail turnover rose 0.4 per cent in May 2018, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. This follows a 0.5 per cent rise in April 2018. "Department stores (3.9 per cent) led the rises," said Ben James, Director of Quarterly Economy Wide Surveys. "There was also a strong result in clothing, footwear and personal accessories, which rose 2.2 per cent. Both industries were able to rebound after unusually warm weather impacted April sales."

There will be no major data releases from Australia tomorrow. In the US session ADP job figures, ISM Non-Manufacturing PMI and FOMC Meeting Minutes will be published. Number of employed is expected to increase by 177,000, Non-Manufacturing PMI should rose to 59.1, while FOMC Meeting Minutes would bring some volatility by the end of the session.

Figures to watch:

ADP Non-Farm Employment Change (Thursday 13:15)

ISM Non-Manufacturing PMI (Thursday 15:00)

FOMC Meeting Minutes (Thursday 19:00)