In the week ahead, investors will be looking ahead to the BoE’s quarterly inflation report for further indications of the expected course of monetary policy. The euro zone and Japan are to release preliminary data on first quarter economic growth, while the U.S. is to publish reports on retail sales, consumer prices and consumer sentiment.
Monday, May 12
Japan is to release data on its current account. Australia is to publish private sector data on business confidence. In Europe, Switzerland is to produce data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. Later Monday, the U.S. is to publish data on the federal budget balance.
Tuesday, May 13
Australia is to produce data on house price inflation and home loans, while the government is to release its annual budget report. China is to release data on industrial production and fixed asset investment. The U.K. is to release private sector data on retail sales. The ZEW Institute is to release its closely watched report on German economic sentiment, a leading indicator of economic health. The U.S. is to produce data on retail sales, as well as reports on import prices and business inventories.
Wednesday, May 14
The Reserve Bank of New Zealand is to publish its bi-annual financial stability report. Governor Graeme Wheeler is to hold a press conference to discuss the report. Meanwhile New Zealand is to release data on retail sales. The U.K. is to release official data on the change in the number of people unemployed and the unemployment rate and average earnings. The BoE is to publish its quarterly inflation report, and Governor Mark Carney is to hold a press conference to discuss the report. The ZEW Institute is to publish a report on economic expectations in Switzerland, a leading indicator of economic health. The euro zone is to produce data on industrial production. Later Wednesday, the U.S. is to release data on producer price inflation.
Thursday, May 15
Japan is to publish preliminary data on first quarter gross domestic product, the broadest indicator of economic activity and the leading indicator of economic growth. The nation is also to release a report on tertiary industry activity. Bank of Japan Governor Haruhiko Kuroda is to speak at an event in Tokyo; his comments will be closely watched. New Zealand is to release its annual budget statement, as well as private sector data on manufacturing activity. The euro zone is to publish preliminary data on first quarter GDP, as well as revised data on consumer inflation. Switzerland is to publish data on producer price inflation. Canada is to release a report on manufacturing sales. The U.S. is to release data on initial jobless claims, consumer inflation and industrial production, as well as a report on manufacturing activity in the Philadelphia region.
Friday, May 16
Canada is to publish data on foreign securities purchases. The U.S. is to round up the week with reports on building permits and housing starts, and a preliminary reading on consumer sentiment from the University of Michigan.