REPORTER SAYING:

"While key financial centers such as Hong Kong and Tokyo will be closed to observe holidays, Down Under there's lots of potential action for the Aussie dollar."

The Australian dollar has remained relatively strong partly on speculation that key trading partner China will re-inject stimulus to re-energize its slowing economy.

That could also help the key mining sector and data out on Tuesday (May 6) is expected to show Australia's trade balance hovering at steady positive levels - much improved from 2013.

The Reserve Bank of Australia will also announce its latest decision on interest rates. A Reuters poll shows analysts are unanimous in expecting the central bank to keep rates steady at two and a half percent with rates expected to start rising in early 2015.

On the earnings front, Taiwan mobile phone maker HTC will discuss its first-quarter performance and second-quarter outlook after posting a worse than expected loss.

HTC recently launched a new phone that tech geeks consider brilliant thanks to its snazzy twin-sensor rear camera capable of recording depth.

But the company has been falling down on branding and marketing, and analysts will be looking for signs that senior management has a plan to turn things around.

REPORTER SAYING:

"Two years ago HTC was third to Apple and Samsung selling 10 percent of smartphones globally. But it ended 2013 with a market share of just two percent."