Friday was a light data day, and although markets were choppy there was not too much directional movement. Currencies ended mostly within touching distance of where they started, with both the US$/majors and the crosses offering nothing new. Stocks ended up by around 0.25%, while WTI was down by around 0.35%. The metals were unchanged.
It is going to be a big week ahead, with the immediate focus likely to be on any repercussions following the G7 debacle although it will be a quiet start in terms of data, with little on today’s calendar and also being a long weekend in Australia. The NZ Mfg Sales for Q1 will be an early release in Asia, ahead of the Japan Machinery Orders for April. There is nothing at all to come from Europe apart from the UK Manufacturing/Industrial Production, the Goods Trade Balance and the NIESR figures, all for April. The US calendar is also empty on Monday and it would seem that most traders will stand aside while waiting on the Trump/Kim meeting on Tuesday and then the FOMC Meeting on Wednesday. Beyond there, the ECB Meeting is due on Thursday and the BOJ are up on Friday. Other key points coming up will include the German/EU ZEW Economic Sentiment Survey, US May CPI (Tue), China Q1 GDP, UK CPI (Wed), Australian Unemployment, China Retail Sales, German CPI, US Retail Sales (Thur), EU May CPI (Fri). Have a good day.
|INDICES / COMMODITIES|
|OIL (WTI): 65.48|