IronFX’s market analysts have summarized what’s happening next week.
This article is originally referred from IronFX News.
UK & Canadian CPIs, other key data in focus
Next week’s market movers
- In the UK, lots of key economic data are due out, among which inflation figures. However, with the
recent BoE meeting now out of the way, we think that investors are likely to turn their attention
primarily to developments surrounding the upcoming General election.
- In Canada, April’s CPI rates may rebound following notable tumbles in March, but we doubt that
this will lead to a material change in the BoC’s dovish rhetoric.
- We also get key economic data from China, Australia, New Zealand, and Canada.
On Monday, during the Asian morning, we get China’s retail sales, industrial production and fixed asset investment data, all for April. The forecast is for all of these indicators to have slowed in yearly terms. Indeed, both of the nation’s official and Caixin manufacturing PMIs for the month showed that production continued to rise, albeit at a reduced pace, which supports the industrial output forecast. Meanwhile, the consensus for slowing retail sales is somewhat supported by the notable slowdown in imports during the month.
From New Zealand, we get retail sales for Q1. The forecast is for sales to have accelerated somewhat, in both quarterly and yearly terms. The case for another quarter of solid sales is supported by the New Zealand electronic card transactions indicator, a gauge of the nation’s retail sales, which remained robust throughout the quarter. In addition, the continued increase in the nation’s population growth due to strong net migration, supports further the forecast.
Check out the full report by IronFX from below!
Original Source: IronFX News