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It was a mixed bag for the global markets last week – with gains and corrections. However, with a barrage of macro numbers likely this week, markets would be reacting more frequently than ever. Here are four key events of the week:
- Australian macro number: From monetary policy to GDP numbers for the March quarter, Australia is set to witness a high-octane week at the beginning of June. During the week, the country would also release retail sales numbers – an indicator of consumer spending in the country.
- Swiss growth numbers: Switzerland – one of the richest countries in the world – is set to announce its March quarter GDP Estimates peg a 50 basis points (bps) contraction in the economy of the country, compared with 30 bps growth in the corresponding quarter last year.
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- German retail sales: The Statistisches Bundesamt Deutschland would be releasing the retail sales numbers for Germany this week. A measure of changes in sales of the German retail sector, it shows the performance of the retail sector in the short term. A key gauge for determining consumer sentiment and the spending, the German retail sales are likely to contract by 30 basis points.
- American jobs data: The US is set to release jobs data, as analysts suggest payrolls may have risen by 650,000 in May - that is almost double the last gain of 266,000, though still a moderation from the million-plus increase, originally anticipated at the time of publishing the last report.
