Here are some of the important economic data that will be the focus of the market throughout the week.
China Inflation Data (Tuesday 9.30am): The annual consumer price index published for April in China will be the focus for investors to get an indication of the health of the world’s second -largest economy. Data readings are expected to rise higher than previous figures.
ZEW Survey Data on European Economic Sentiment (Tuesday 5.00pm): The European economic outlook has remained positive since the end of last year signaling a good economic recovery. Rising data will support Euro trading earlier in the week.
UK Gross Domestic Product Data (Wednesday 2.00pm): Preliminary readings for GDP growth in the UK for the first quarter of this year will be noted. Markets are expecting growth to contract with the pressures facing the UK even as the economy has reopened.
US Inflation Data (Wednesday 8.30pm): The upward trend in inflation in the United States is set to end with the expected decline in the consumer price index for April. Being the focus of the central bank, the Federal Reserve (Fed) is still maintaining policy easing in an effort to support economic recovery.
Minutes of European Central Bank Meeting (Friday 7.30pm): The European Central Bank (ECB) will publish minutes of its April meeting and details will be scrutinized by investors for future policy indications after the central bank remains dovish in tone.
US Retail Sales Data (Friday 8.30pm): The retail sales rate in the United States has jumped in March to 9.8%, but the reading for April is expected to be lower again to the 1.0%level. Core retail sales are also expected to decline again.
