Here are some of the important economic data that will be the focus of the market throughout this week.
US Inflation Data (Wednesday 8.30pm): After the results of the FOMC meeting and the US NFP jobs report were in focus last week, this week the consumer price index data will be scrutinized. Will the inflation rate continue to record declining numbers?
China Inflation Data (Thursday 9.30am): The Asian session on Thursday will focus on the release of China's inflation data for April. As the second largest economy in the world, positive economic health will also have a positive impact on the global chain and vice versa.
Bank of England Policy Meeting (Thursday 7.00 PM): The Bank of England (BOE) is expected to increase interest rates by 25 basis points at the latest meeting to 4.50%. A hawkish follow-up statement by the central bank will encourage a strengthening of the Pound's trading value.
US Producer Price Index Data (Thursday 8.30pm): Giving an indication of consumer inflation, changes in the producer price index in the US will also influence. The monthly increase in producer inflation is predicted to be positive for April.
UK GDP data (Friday 2.00 PM): UK economic growth data readings will give an insight into the current health of the country. The encouraging figures are likely to prompt the central bank to continue its policy tightening measures to combat excessive inflation.
US Consumer Confidence Data (Friday 10:00 PM): A survey of consumer financial confidence in the US will provide an indication of the level of spending and the development of economic activity. No major changes are expected in the latest figures release.
