Here are some of the important economic data that will be the focus of the market throughout the week.
Minutes of the Australian Central Bank Meeting (Tuesday 9.30am): Investors will scrutinize further details of the minutes at the Australian central bank (RBA) meeting in early June after a 50 basis point increase in interest rates beat forecasts.
UK Inflation Data (Wednesday 2.00pm): After the Pound soared last week following the results of the meeting of the central bank of England (BOE), the reading of consumer price index data in the UK will affect the Pound. Rising inflation will strengthen expectations for the BOE to continue to tighten policy.
Canadian Inflation Data (Wednesday 8.30pm): The monthly reading for inflation in Canada is expected to rise for May which will also be of concern to the central bank. The Bank of Canada (BOC) is among those seen maintaining interest rate hikes for several recent policy meetings.
European Manufacturing & Services PMI data (Thursday 4.00pm): Towards the end of the month, investors will usually be presented with data readings for key sectors to assess the current health of the economy. Expectations for data readings in Europe are expected to remain stable.
UK Manufacturing & Services PMI data (Thursday 4.30pm): Following the reading for the UK economic sector, the data reading is expected to decline slightly from the previous month, but still at a good level.
US Manufacturing & Services PMI data (Thursday 9.45pm): Concerns over high inflation in the US as well as other current factors could put pressure on key sectors in the US. Readings for the latest data are likely to show slightly decreased numbers.
