What will drive the markets this week?
Equities ended with modest gains last week, despite the May job reports indicating a modest economic recovery in the US. With the earnings season complete, investors are focusing on the economy and signs that the Fed may begin to tighten its monetary policies.
This week, investors will parse key reports in core inflation, consumer sentiment and expectations, the jobs turnover rate, and the G7 summit which begins on Thursday to discuss global corporate taxes and covid-19 vaccine distribution.
In the US, the JOLTS report which will be released on Tuesday will provide more clarity into the availability of jobs around the country. In Europe, investors will pay attention to the European Central Bank (ECB) meeting Thursday, which will center on interest rates and monetary policy.
Investors will also analyze a range of economic reports from around the world, including the Chinese trade balance for May, German Industrial Production (April), Eurozone economic sentiments Index, and Brazilian retail sales.
Monday, June 7:
- Market Holiday in New Zealand for the Queen’s Birthday.
- Chinese Trade Balance (May).
- German Factory Orders (April).
- U.K Halifax House Price Index (May).
- U.K. British Retail Consortium Retail Sales Monitor (May).
- Japanese Gross Domestic Product (GDP) (Q1).
Tuesday, June 8:
- German Industrial Production (April).
- German ZEW Economic Sentiment Index (June).
- Eurozone GDP (Q1).
- Eurozone ZEW Economic Sentiment Index (June)
- Brazilian Retail Sales (April).
- U.S. Trade Balance (April).
- Job Opening and Labor Turnover Survey (JOLTS) Job Openings (April).
- Chinese Consumer Price Index (CPI) (May).
- Chinese Producer Price Index (PPI) (May).
Wednesday, June 9:
- German Trade Balance (April).
- Brazilian CPI (May).
- Bank of Canada Interest Rate Decision
Thursday, June 10:
- European Central Bank (ECB) Interest Rate Decision.
- U.S. Core CPI (May).
- G7 Summit Begins and Continues Through Friday.
Friday, June 11:
- U.K. Manufacturing Production (April).
- U.K. Trade Balance (April).
- French CPI (May).
- U.S. Preliminary University of Michigan Consumer Sentiment and Expectations Index (June).