The following are some of the economic data that will be the focus of the market throughout the week.
German Economic Sentiment ZEW Survey (Tuesday 5.00pm): The contraction of the German economy as the largest economy in Europe based on ZEW survey data below zero continues to worry investors. Analysts believe the impact of the sanctions measures on Russia has sparked unrest including on the European economy.
US Inflation Data (Wednesday 8.30pm): After last week's NFP report, the focus will be on the release of US consumer price index data for April. The latest reading is expected to drop lower than before.
UK Gross Domestic Product Data (Thursday 2.00pm): Economic growth in the UK for the first quarter reading is forecast to be more gloomy. This factor was also a concern of the central bank at a policy meeting last week which slightly disrupted the policy tightening measures by the Bank of England (BOE) to the point of also affecting the Pound in the financial markets.
US Producer Price Index (Thursday 8.30pm): Also a component influencing US inflation, the US producer price index in April is expected to be published at a lower figure reading than the increase in the previous month.
US Consumer Sentiment UoM Survey (Friday 10.00pm): Survey data by the University of Michigan will provide an insight into the level of financial confidence driving consumer spending indicators in the US. Not much change is expected for the latest data readings, however it is likely to be slightly decreased compared to previous updated figures.
