This week, the markets are looking at a number of important economic data and will also be watching ongoing trade talks to reform the NAFTA as well as bilateral talks between China and the United States on recent trade tensions.
The highlights of the week's economic data are:
Tuesday - US Retail Sales
- The Reserve Bank of Australia meeting minutes will be released which the bank kept interest rates unchanged at 1.5% for the 19th meeting.
- Germany's GDP is expected to grow by 0.4% in the first quarter of 2018 and EZ GDP to grow by 2.5% on yearly basis and by 0.4% on a monthly basis.
- UK labor market data will be released, and more focus will be placed on wage data including bonuses, which are expected to grow by 2.7% in the three months to March.
- In the US, the markets will monitor retail sales figures, which are expected to grow by 0.4% in April.
- In Japan, the economy is expected to contract for the first time in two years due to weak private consumption and export demand.
Wednesday - European inflation figures
- Australia's wage index for the first quarter of 2018 will be watched early in the morning by markets, which are expected to rise by 0.6 percent on quarterly basis and by 2.2 percent on yearly basis.
- Inflation figures in the eurozone slowed down in April, and the final reading of the consumer price index is expected to release on Wednesday and initial readings are expected to be confirmed a 1.2% rise.
Thursday - Australian labor market data
- Australian job numbers were disappointing in March, and the economy is expected to add 20.3K jobs in April after adding 4.9K jobs in March and unemployment is expected to stabilize at 5.5 percent.
- Annual budget will be issued in New Zealand.
- Inflation figures are also expected to be released in Japan, where the national CPI is expected to rise by 0.8% in April.
Friday - Canadian inflation data
- Canadian inflation figures are due to be released as the CPI is expected to rise by 2.6% in April.
