It will be a busy week in the US, as investors turn their attention to next week's FOMC meeting at which the Federal Reserve is expected to confirm the current monetary policy stance. Regarding the economic calendar, the most important releases are: non-farm payrolls; unemployment rate; wage growth; trade balance; ISM PMIs; PCE price index; personal income and spending; ADP employment change; factory orders; pending home sales; construction spending; total vehicle sales; Chicago PMI; Dallas Fed Manufacturing Index; ISM New York Index; and final Markit PMIs.
The UK will publish Markit PMIs and monetary indicators. Elsewhere in Europe, the Eurozone and Italy will release flash estimates of first quarter GDP growth, alongside inflation and unemployment. In addition, final Markit PMIs will be published for the Eurozone, Germany and France, and flash figures for Italy and Spain. Markets will also focus on: Germany inflation and retail sales; France trade balance; Switzerland KOF leading indicators and consumer morale; Norway interest rate decision; and Poland and Turkey inflation rates.
Japan will release consumer sentiment and Nikkei PMIs, while China is set to publish figures for PMIs from both the statistical office and Caixin.
In Australia, the RBA will be deciding on monetary policy, with markets anticipating no changes. Important data include trade balance, building permits, HIA new home sales, private sector credit, and AIG manufacturing and services indices.
Other important releases include: Canada foreign trade, Ivey PMI and monthly GDP; Mexico first quarter GDP growth; India Nikkei PMIs and infrastructure output; South Korea, Indonesia and Russia inflation rates; Brazil Markit PMIs, trade balance and industrial output; and South Africa foreign trade.