(Note: all times HKT)
While last week saw some pretty big events, this coming one isn’t something to sneeze at either. Kicking off the week will Turkey’s parliamentary elections, followed by the Group of 7 meeting at Schloss Elmau, Germany, and then all eyes will be on China, the EU, and the US as they report a few highly-important data points.
Turks will be heading off to the polls today, Sunday, an important event given the fact that the ruling, conservative Justice and Development Party (AKP) is facing an uphill battle to maintain its single-party rule against the left-leaning, pro-Kurdish People’s Democracy Party (HDP). The Group of 7 will also begin their two-day meeting today in Germany, Greece, though not on the agenda, is likely to be deliberated.
Monday meanwhile will see Japan’s final first quarter GDP growth rates released around 8:30 am, with analysts expecting the figures to reflect stronger growth in the region than previously stated. At 10 am, China is set to reveal their May balance of trade data along with their import and export numbers. Forecasts currently predict the nation’s surplus to balloon while imports and exports are expected to shrink.
On Tuesday, China will be reporting their May inflation rate figures at 10:30 am. This is widely expected to come in somewhat unchanged. Japan meanwhile will be releasing their May consumer confidence data at 2 pm, with analysts expecting it to nudge up a bit, while at 6 pm first quarter GDP growth rate estimates for the Eurozone will also be unveiled. It is also expected to lurch up a bit.
Wednesday will see Japan’s April month-on-month machinery orders data come in at 8:30 am. This is widely expected to come in lower.
China takes center stage Thursday afternoon as the nation reports its May industrial production and retail sales figures at 2 pm. Industrial production is expected to have bumped up from the year before, while retail sales is forecasted to go down. At 9:30 pm, all eyes will be on the U.S. as it releases their highly-important retail sales numbers. Analysts currently expect a 1.2% gain from April.
And lastly, Friday will see preliminary U.S. consumer confidence data at 11 pm, with June forecast to come in slightly higher than May.
Photo credit: Chris Ford via Flickr