In the week ahead, investors will be focusing on US data on retail sales and consumer sentiment for indications of the strength of the economic recovery. Policy meetings by the Bank of Japan and the Reserve Bank of New Zealand will also be closely watched.
Monday, June 10
Markets in Australia are to remain closed for a national holiday, while markets in China will also be shut for a holiday. Japan is to release official data on the current account, as well as revised data on first quarter growth. Switzerland is to release official data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. In the euro zone, France is to release official data on industrial production.
Tuesday, June 11
The BoJ is to announce its benchmark interest rate. The announcement is to be accompanied by the bank’s monetary policy statement, which contains important insights into the economic outlook. The BoJ is to hold a press conference after the rate announcement. Japan is to release official data on manufacturing activity, an important indicator of economic health. Markets in China are to remain closed for a national holiday. Australia is to produce official data on home loans and private sector data on business confidence. The UK is to release official data on manufacturing production, a leading indicator of economic health.
Wednesday, June 12
Japan is to release official data on core machinery orders, a leading indicator of production. Markets in China are to remain closed for a national holiday. Australia is to produce a report on consumer sentiment. The UK is to release government data on the change in the number of people unemployed and the unemployment rate. The euro zone is to produce official data on industrial production, a leading indicator of economic strength.
Thursday, June 13
The RBNZ 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 bank is to hold a press conference after the rate announcement. Australia is to produce official data on the change in the number of people unemployed and the unemployment rate. Switzerland is to publish official data on producer price inflation, a leading indicator of consumer inflation. The ECB is to publish its monthly bulletin, which outlines the banks economic outlook. Elsewhere in the euro zone, Italy is to hold an auction of 10-year government bonds. Canada is to release official data on new house price inflation, an important indicator of demand in the housing sector. The US is to release official data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity, as well as the weekly government report on initial jobless claims.
Friday, June 14
New Zealand is to publish data on manufacturing activity, an important indicator of economic health. Japan is to release monetary policy meeting minutes. The euro zone is to release official data on consumer price inflation, which accounts for the majority of overall inflation. Canada is to publish government data on manufacturing sales, a leading indicator of economic health. The US is to round up the week with data on producer price inflation, industrial production, the capacity utilization rate, the current account and preliminary data from the University of Michigan on consumer sentiment.