In the US, most of the market's focus will be directed towards the comments of the Federal Reserve's chairman Ben Bernanke on inflation followed by the release of price indicators comprising, both core and headline Consumer Price Indices (CPI) for May. Market participants will also see the publication of the May retail sales report. The University of Michigan confidence survey will provide markets with further information on consumer sentiment. In terms of business activity, business inventories for April are due to be released. The economic schedule will also include some employment and housing figures. Trade balance figures, May import prices, and the Fed's Beige book, which is a report on current economic conditions, will conclude this week's data release schedule in the US.
In the Euroland, markets will have the opportunity to go through the Eurozone industrial production figures for May. These should offer an insight on the latest developments in the manufacturing sector as we move into the second quarter. A view on the labour market will be provided by the release of the labour cost and employment figures for the first quarter. Similar to the US, the markets will have some figures relating to the current inflation levels in the four major economies. Finally, markets will be provided with data related to the investor confidence within the continent.
In the UK, the first release relates to the inflation indicators, including input and output Producer Price Indices (PPI) for May. These are likely to show an increase due to rising petrol prices. Retail sales figures will provide a good indication of the consumer spending pattern within the British economy. On the other hand, the industrial and manufacturing production figures will provide market participants with an insight on the manufacturing level within the UK.
On the housing front, markets will have statistics relating to the change in house prices during May. The ILO unemployment rate for April and the May jobless claims change will provide an insight in the labour market. Trade balance figures will close this week's data release calendar.
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