Breaking News
0

Economic Calendar - Top 5 Things To Watch This Week

EconomyJun 03, 2018 04:22AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Top 5 things to watch this week in financial markets

Investing.com - With a lack of major economic reports and earnings news in the coming week, markets could focus more heavily on trade-related headlines as President Donald Trump prepares to meet world leaders at the G7 summit in Canada.

There could be major developments on the trade front with China during the coming week, as well, and more clarity on whether revisions to the North American Free Trade Agreement can be concluded before a looming deadline.

Staying on the subject, market participants will focus on monthly trade figures out of the United States and China, as they seek to gauge if there has been any impact on trade activity from the recent trade dispute between the world's two largest economies.

In the UK, investors will focus on a report on activity in the dominant services sector for further indications on the health of the economy and the likelihood of the Bank of England raising interest rates this year.

On the central bank front, a monetary policy announcement from the Reserve Bank of Australia will be in the agenda, though no change is expected.

Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.

1. G7 Summit

The heads of G7 nations travel to Quebec at the end of the week for a meeting hosted by Canadian Prime Minister Justin Trudeau.

President Trump is expected to arrive on Friday, where he will meet the leaders of Germany, Italy, France, UK, and Japan, all countries subject to U.S. tariffs.

Finance leaders of the closest U.S. allies vented anger over the Trump administration's metal import tariffs on Saturday, ending a three-day meeting with a stern rebuke of Washington.

In a rare show of division, the six other G7 member countries issued a statement asking U.S. Treasury Secretary Steven Mnuchin to convey their "unanimous concern and disappointment" about the tariffs to the president.

Speaking separately after the meeting, Mnuchin told reporters that he was not part of the six-country consensus on trade and said Trump was focused on "rebalancing our trade relationships."

Just before the G7's meeting of finance ministers ended, Trump wrote on Twitter on Saturday that "the United States must, at long last, be treated fairly on Trade."

The U.S. last week imposed new 25% tariffs on steel and 10% tariffs on aluminum imported from the European Union, Canada and Mexico, after temporary exemptions expired.

The tariffs prompted swift retaliation and raised doubts about whether the administration will be able to reach a near-term agreement with Canada and Mexico on a revamped North American Free Trade Agreement.

However, the bigger question is whether the U.S. can resolve trade disputes with China.

2. U.S. Trade Data

The U.S. Commerce Department will release international trade data for April at 8:30AM ET (1230GMT) on Wednesday, and it will be watched closely amid the threat of a global trade war.

The deficit is forecast to widen to $50.0 billion, from $49.0 billion in March.

There is also productivity and costs data, due on Wednesday, which includes a look at inflation. The PCE data is the preferred inflation measure watched by the Federal Reserve.

There are no Fed speakers in the coming week since it is the quiet period ahead of the June 12 and 13 Federal Open Market Committee meeting, when the Fed is widely expected to raise interest rates.

The U.S. central bank is increasingly likely to raise rates a fourth time this year after last week's employment report showed U.S. job growth accelerated in May and the unemployment rate dropped to an 18-year low of 3.8%.

The U.S. Labor Department's report also showed solid wage gains, pointing to rapidly tightening labor market conditions, which could stir concerns about inflation.

3. China Trade Figures

China is to release May trade figures on Friday morning.

The report is expected to show that the country’s trade surplus rose to $32.5 billion last month from $28.8 billion.

Exports are forecast to have climbed 6.3% from a year earlier, while imports are expected to rise 16.0%.

Trade figures released last month showed that China's exports rose sharply despite the heated trade dispute with the United States.

Ongoing trade talks between the U.S. and China will also keep investors on their toes this week.

China warned the United States on Sunday that any agreements reached on trade and business between the two countries will be void if Washington implements tariffs and other trade measures, as the two ended their latest round of talks in Beijing.

That came after U.S. Commerce Secretary Wilbur Ross met Chinese Vice Premier Liu He met in Beijing over the weekend.

The world's two largest economies have threatened each other with tens of billions of dollars' worth of tariffs in recent months, leading to worries that Washington and Beijing may engage in a full-scale trade war that could damage global growth and roil markets.

4. UK Services PMI

A survey on Britain's giant services sector due at 0830GMT (4:30AM ET) on Tuesday is forecast to inch up to 52.9 from the previous month's reading of 52.8.

A separate PMI for the construction industry is due on Monday.

Growth among British manufacturers picked up speed in May for the first time in six months, but the improvement masked underlying weakness among the country's factories, a survey showed on Friday.

Britain's economy grew more slowly than most of its peers in the first quarter of 2018 due to a mix of unusually snowy weather and headwinds from Britain's impending exit from the European Union.

The Bank of England is watching for signs that weak growth at the start of the year was temporary and caused by unusually cold weather - rather than the approach of Brexit next year - before it raises interest rates for only the second time in over a decade.

5. Reserve Bank of Australia Policy Meeting

The Reserve Bank of Australia's (RBA) latest interest rate decision is due on Tuesday at 0430GMT.

Most economists expect the central bank to keep rates unchanged at the current record-low of 1.5% for the 21th straight meeting, which would be the longest spell of inactivity since 1990.

Policymakers are also expected to sound cautious on inflation, in a clear sign a hike was still a distant prospect.

RBA Governor Philip Lowe has long cautioned that the next move in rates is more likely to be up than down, but so far has emphasized that the central bank's board saw no strong case for a hike anytime soon.

Investors expect policy will stay on hold for a long time to come, with interbank futures not fully pricing for a 25-basis point rise until July 2019.

Stay up-to-date on all of this week's economic events by visiting: http://www.investing.com/economic-calendar/

Economic Calendar - Top 5 Things To Watch This Week
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments
ma alsati
ma alsati Jun 03, 2018 8:30PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
thank you
Reply
0 0
ma alsati
ma alsati Jun 03, 2018 8:30PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
many thanks
Reply
0 0
Jun 03, 2018 1:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The US# index will be down to 91-92, and WTI will be going up to the level of 70$. However US$ will go stronger than Euro, but it will be going weaker against Asian currencies esp S.Korean Won, Yen etc:)
Reply
0 0
Maurizio Boccoli
Maurizio Boccoli Jun 03, 2018 11:46AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
On Monday the US stock market is going up?
Reply
0 0
Quincy Spencer Fiiad
Quincy Spencer Fiiad Jun 03, 2018 10:59AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This alert of the closing of Quincy and Drake Degrossi and Mustafa and Graham and Brown both last names of the Black and only gods of The equator and the dateline line and datezone and Klondike ice cream bar of frozen chocolate and nuts and ice cream which made 0.01 cents of Khalony and Khalil Frances of Old Spook and Old Fruit Compton Providence and Neighbourhood in the Sold and Forebearance Epicentre of the big dipper and the big boomer and the big booper which makes the Jones, Carter, Smith, Tones, Ringtone owners and the big bang theory of Johnson and Johnson a magical family Criminal charge off, delinquent and abandoned retail garment and commercial God Act act of God and Devils Inc. The mutual funds account of the Amun and Amuna lord of God only has announced that they will retire with the rest of us forced and fake gods of goddess's who are the lady's in our lives. The Jones and Downs percentage is 0 and rare is 0 and total amount deposited 0 leaves the America God's of American decent the weakest account bracket and lower social scene and poorh for work Ever.
Reply
0 0
Jabbar Ansari
Jabbar Ansari Jun 03, 2018 10:31AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Good for trade knowledge
Reply
0 0
Great Endy
Great Endy Jun 03, 2018 10:19AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Very useful
Reply
0 0
Paul Biggers
Paul Biggers Jun 03, 2018 10:17AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Thanks. Long VIX is my position.
Reply
0 0
Linh phan
Linh phan Jun 03, 2018 5:17AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Useful article
Reply
0 0
David Cornelius
David Cornelius Jun 03, 2018 5:17AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Thanks
Reply
0 0
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email