Investing.com - The economic calendar for upcoming week is less
busy after last week saw several key economic events. Friday's
nonfarm payrolls report for May pointed to solid jobs growth, so
investors will be focusing on the upcoming U.S. retail sales report
for indications on the strength of the recovery. Thursday's U.K.
jobs report will be closely watched, while the euro zone will not
be releasing any significant data.
U.S. retail sales
The U.S. is to release the May
on Thursday, with market watchers expecting a 0.6% increase after a
lackluster 0.1% increase in April. Data last week already showed
that U.S. auto sales surged 11% in May, indicating that consumer
confidence remains strong.
U.K. employment report
U.K. jobs report
is expected to show a decline in the unemployment rate to 6.7% in
the three months to April, which would be a five year low, while a
fall of 25,000 is expected in the claimant count rate. Economy
watchers will also be keeping a close eye on wage growth. Weak
earnings growth is one reason the Bank of England has kept monetary
policy loose, despite signs that the economic recovery is gaining
momentum. A strong reading would reinforce expectations for a U.K.
rate hike in the early part of next year.
Japan revised Q1 GDP estimate
Investors will be looking ahead to Monday's revised estimate on
, amid expectations that the rate of growth could be trimmed back
to 5.6% year-on-year, from the preliminary estimate of 5.9%, after
data last week showed that corporate capital spending grew at a
slower rate than initially believed. Strong GDP growth in the first
quarter was partially down to increased spending ahead of a sales
tax increase that went into effect on April 1st.
Reserve Bank of New Zealand monetary policy
is widely expected to hike interest rates by another 25 basis
points to 3.25% at its rate review on Thursday. In its last rate
statement the RBNZ said "the speed and extent to which the Official
Cash Rate will be raised will depend on economic data and our
continuing assessment of emerging inflationary pressures, including
the extent to which the high exchange rate leads to lower
China consumer price inflation report
China is to release data on
on Tuesday, with consensus forecasts for a 2.4% annual increase in
April, up sharply from 1.8% in April. Later in the week, the
world's second-largest economy is to release data on industrial
offers an extensive set of professional tools for the financial
Read more News on Investing.com and download the new
Investing.com Stocks & Forex App