In the week ahead, investors will be looking to the minutes from the Federal Reserve’s latest monetary policy meeting, due for release on Wednesday, for insight on the central bank’s view of the economy. The euro zone is to publish what will be closely watched data on private sector activity, while the U.K. is to release data on consumer prices.
Monday, May 19
New Zealand is to publish data on producer price inflation. Japan is to release a report on core machinery orders. Germany’s Bundesbank President Jens Weidmann is to speak at an event in Frankfurt; his comment will be closely watched. Later in the day the German central bank is to publish its monthly report. Markets in Canada are to remain closed for a national holiday.
Tuesday 20
The Reserve Bank of Australia is to publish the minutes of its latest policy meeting, which contain valuable insights into economic conditions from the bank’s perspective. In the euro zone, Germany is to release data on producer price inflation. The U.K. is to release data on consumer price inflation, which accounts for the majority of overall inflation. Canada is to publish data on wholesale sales. In the U.S., Federal Reserve Bank of Philadelphia Charles Plosser and Federal Reserve Bank of New York President William Dudley are to speak.
Wednesday, May 21
The Bank of Japan is to announce its benchmark interest rate and publish its monetary policy statement, which outlines economic conditions and the factors affecting the bank’s decision. The announcement is to be followed by a press conference. Japan is also to publish data on the trade balance, the difference in value between imports and exports. Australia is to publish data on the wage price index and a private sector report on consumer sentiment. The euro zone is to release data on the current account. The U.K. is to release data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. Meanwhile, the Bank of England is to publish the minutes of its May meeting. Fed Chair Janet Yellen is to speak at an event in New York. Later Wednesday, the Fed is to publish the minutes of its May meeting.
Thursday, May 22
China is to publish the preliminary reading of the HSCB manufacturing index. New Zealand and Australia are to produce data on inflation expectations. The euro zone is to release data on manufacturing and service sector activity, while Germany and France are to release individual reports. The U.K. is to publish revised data on first quarter economic growth, as well as reports on business investment and public sector borrowing. The U.K. is also to produce private sector data on industrial order expectations. Canada is to release data on retail sales. The U.S. is to release its weekly report on initial jobless claims and private sector data on existing home sales.
Friday, May 23
In the euro zone, the Ifo Institute is to publish data on German business climate. Canada is to publish data on consumer price inflation. The U.S. is to round up the week with data on new homes sales.