Here are some of the important economic data that will be the focus of investors throughout the week.
UK Jobs Data Report (Tuesday 2.00pm): Pound Sterling currency trading will be affected by the release of the latest UK jobs report while the progress of the economic reopening is still being monitored by investors.
European Zone GDP Data (Tuesday 5.00pm): The latest reading for European economic growth for the first quarter of 2021 is expected to remain unchanged at -0.6% after a slight contraction from the previous quarter.
UK Inflation Data (Wednesday 2.00pm): The UK annual inflation rate is projected to double for April. Core readings are also forecast to increase.
European Inflation Data (Wednesday 5.00pm): The increase in inflation rates in Europe since the beginning of the year is seen as positive and has the potential to influence changes in policy decisions by the European central bank. With the continued rise in inflation will prompt the central bank to tighten its previously loose policy.
FOMC Meeting Minutes (Thursday 2.00 AM): Investors will scrutinize further details of the meeting minutes after the Federal Reserve (Fed) still maintained a loose policy despite a rise in inflation. Any indication for policy tightening will boost the value of the US dollar in the market.
Australian Jobs Data Report (Thursday 9.30am): Investors will be wary of Aussie dollar trading ahead of the jobs report with expectations of a decline in the rate of employment growth for April.
European Manufacturing & Services PMI data (Friday 4.00pm): The movement of the Euro currency is expected to be more aggressive over the weekend ahead of economic sector data starting with France, Germany followed by readings for the European zone.
UK Manufacturing & Services PMI data (Friday 4.30pm): The manufacturing and services sector in the UK remained displaying a stable reading above the 50.0 point level indicating good expansion.
US Manufacturing & Services PMI data (Friday 9.45pm): The New York session will focus on US manufacturing and services sector data with readings expected for May remaining strong for indications of a positive economic recovery.
