Weekly Outlook: Jun 5 - Jun 9

Monday

Europe: Despite some key European markets will remain closed due to Pentecost Monday, economic data is still on schedule. France, Germany and the Eurozone are due to release their services PMI indexes for May around 08:00 GMT, with expectations at 58.0, 55.2 and 56.2 respectively. Britain will also present its services PMI as of 08:30 GMT, with 54.5 seen.

United States: Following May’s NFP report, nonfarm productivity and unit labor costs for the first quarter of 2017 are set for release at 12:30 GMT. Analysts are pointed a productivity reduction of 0.1 percent and a 2.5 percent build for labor costs. Services PMI from Markit will be available at 13:45 GMT, while the ISM non-manufacturing PMI is due fifteen minutes later. Factory orders for April are expected at 14:00 GMT.

Tuesday

Europe: EU retail sales for April are set for publishing at 09:00 GMT. Economists are forecasting a 0.1 percent increase, following a prior month 0.3 percent build.

United States: The Bureau of Labor Statistics is expected to release its JOLTs Job Openings for April, which helps gauge the amount of job vacancies in the economy. The latest release came in at 5.743 million, above a previous 5.670 million openings.

Wednesday

Europe: Factory orders in Germany are set at 06:00 GMT, with a 0.3 percent reduction seen by analysts. Last month, orders added one percent. In the United Kingdom, Halifax House Price Index for May is due at 07:30 GMT, along with RICS House Price Balance. A new revision on the Eurozone’s first quarter GDP is scheduled at 09:00 GMT.

United States: Mid-week arrives with no relevant releases on the data front. For such reason, we expect Investors to turn their focus into a new inventory report from the US Energy Information Administration as of 14:30 GMT.

Thursday

Asia: A fresh reading on Japan’s first quarter GDP is set ten minutes to midnight, followed by Chinese exports, imports and trade balance for May as of 02:45 GMT.

Europe: Germany’s industrial production for May is set at 06:00 GMT, with a 0.5 percent build on the watch. However, focus will be at the ECB’s interest rate decision for June as of 11:45 GMT and certainly, remarks from ECB monetary authorities on the future of the economy.

Friday

Asia: China’s CPI and PPI for May are both going out at 01:30 GMT. These reports could make an impact on the yuan, which has recently reached a seven-month peak.

Europe: Germany’s trade balance is seen at 21 billion and it will be available as of 06:00 GMT. In the United Kingdom, industrial production and trade balance are set at 08:30 GMT.

Fort Financial Services