Markets: What to look out for this week? – Deutsche Bank

Analysts at Deutsche Bank suggest that it’s a fairly quiet start to the week with the main highlights being the afternoon and evening Fedspeak when Bostic, Harker and Kashkari all speak separately.

Key Quotes

“Datawise, the April Chicago Fed national activity index in the US is due. Elsewhere, the ECB's Nowotny and Riksbank’s Jansson are also due to speak.”

“Tuesday: Another fairly quiet day for data with April public finances data and May CBI selling prices in the UK the only prints due in the European session, while in the US the only release scheduled is the May Richmond Fed PMI. Politics should play a greater role with the next round of Brexit negotiations beginning in Brussels, and South Korea President Moon Jae-in due to visit Washington to meet President Trump.”

“Wednesday: Things pick up on Wednesday with the highlight being the May PMIs across the globe. That includes the manufacturing print in Japan, as well as the manufacturing, services and composite prints in Europe and the US. Away from that, Q1 employment indicators in France and April CPI/RPI/PPI in the UK is due in the morning, while April new home sales in the US is due in the afternoon. The May consumer confidence print for the Euro area is also due in the afternoon, while in the evening the latest FOMC meeting minutes will be released. Also worth noting is the House Foreign Affairs Committee holding a hearing to question Secretary of State Mike Pompeo regarding Trump's foreign policy priorities, and the European Commission publishing country specific recommendations for economic policy.”

“Thursday: Overnight in Japan on Thursday we're due to hear from the BoJ's Sakurai, while the March leading index will also be out. During the European session, data due includes the final Q1 GDP revisions in Germany along with June consumer confidence, May confidence indicators in France and April retail sales data in the UK. In the US weekly initial jobless claims, Q1 house price purchase index, March FHFA house price index, April existing home sales and May Kansas City Fed PMI are all due. Over at the Fed, Dudley will speak in the morning, along with BoE Governor Carney, while in the evening Harker is due to speak again. It's worth noting that Russia's acting energy minister is due to discuss the US exit from the Iran accord with Saudi Arabia's energy minister on Thursday.”

“Friday: We end the week in Europe on Friday with the May IFO survey in Germany and preliminary Q1 GDP report in the UK, including the various growth components. In the US flash April durable and capital goods orders will likely be the highlight, while the final University of Michigan consumer sentiment survey is also due. Away from that, EU finance ministers are due to discuss the latest on Brexit negotiations, while Russia President Putin, France President Macron, Japan's Abe and IMF's Lagarde take part in a panel.”