In the week ahead investors will be focusing the outcome of policy meetings by the European Central Bank, Bank of England and Reserve Bank of Australia. In the US is scheduled to release the closely watched government report on nonfarm payrolls on Friday.
Monday, June 3
Japan is to release official data on capital spending. Australia is to produce official data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. China is to release revised data on manufacturing activity. In the euro zone, Spain and Italy are to release data on manufacturing activity. The UK is to produce data on manufacturing activity, a leading economic indicator, while Switzerland is to publish its SVME PMI. Later in the day, the Institute of Supply Management is to release data on manufacturing activity in the US, a leading indicator of economic health.
Tuesday, June 4
The Reserve Bank of Australia is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision. The country is also to release data on the current account. Japan is to publish government data on average cash earnings, which is closely linked to consumer spending. The UK is to release a report on construction sector activity, a leading economic indicator. In the euro zone, Spain is to release official data on the change in the number of people unemployed, a leading indicator of economic health. Later in the day, both the US and Canada are to release data on the trade balance, the difference in value between imports and exports.
Wednesday, June 5
Australia is to release data on first quarter gross domestic product, the broadest indicator of economic activity and the leading measure of the economy’s health. The euro zone is to release official data on retail sales, while Spain and Italy are to release reports on service sector activity. The UK is also to release data on service sector activity, a leading indicator of economic health. Canada is to publish official data on building permits, an excellent indicator of future construction activity. The US is to release the ADP nonfarm payrolls report on private sector job creation, as well as government data on factory orders and crude oil stockpiles. In addition, the Institute of Supply Management is release data on US manufacturing activity, a leading economic indicator.
Thursday, June 6
Australia is to release official data on the trade balance. Switzerland is to produce government data on consumer price inflation, which accounts for a majority of overall inflation. In the euro zone, Spain and France are to hold auctions of 10-year government bonds. Germany is to publish government data on factory orders, a leading indicator of production. Later Thursday, the European Central Bank is to announce its benchmark interest rate. The announcement is to be followed by what will be a closely watched press conference with President Mario Draghi. In addition, the Bank of England is to announce its benchmark interest rate. Canada is to publish its Ivey purchasing managers’ index, while the US is to release the weekly government report on initial jobless claims.
Friday, June 7
The Swiss National Bank is to release data on foreign currency reserves. This data is closely scrutinized for indications of the size of the bank’s operations in currency markets. In the euro zone, Germany is to produce official data on the trade balance and industrial production, a leading economic indicator. The UK is to publish a report on consumer inflation expectations and data on the trade balance. Canada is to release official data on the change in the number of people employed and the unemployment rate. The US is to round up the week with closely watched government data on nonfarm payrolls and the unemployment rate, as well as data on average hourly earnings.