Key economic releases for the week – Danske Bank

Research Team at Danske Bank, lists down the most important economic releases of the globe for the current week.

Key Quotes

“In the US, there are only a few important economic data releases this week. Today the Markit PMI Manufacturing index for May is due for release. We see indications of a turn in the US manufacturing cycle, as it looks like headwinds have decreased due to a stabilisation in China and a weaker dollar. Hence, we do not expect the index to decline further but look for a small increase to 51.2.

This week's US calendar is heavy in terms of speeches by FOMC members. The FOMC minutes from the April meeting revealed a very divided committee, so markets will focus on any comments on when to expect the next hike. Today Bullard (voter, hawkish), Williams (non-voter, neutral) and Harket (non-voter, hawkish) are scheduled to speak.

In the euro area, attention will be on the PMI figures for May. Supported by stronger foreign demand and better financial sentiment, the manufacturing PMI improved slightly in April after having been on a downward trend in Q1. However, we look for weaker business sentiment within the manufacturing sector given generally less optimistic financial sentiment and the upcoming UK referendum. Furthermore, numbers for consumer confidence are due to be released today.

Today is the deadline set by the European Commission for Poland to show 'significant progress' in addressing recent controversial changes to the rule of law framework, which in the worst-case could cause Poland to lose its voting rights in the EU.”