Gross Domestic Product (JPY, GMT 00:00) The quarterly data is expected to rise to 0.5% from 0.4% the Annualized Q1 data to remain unchanged at 1.6% and the key price deflator should also remain unchanged at 2%.
Gross Domestic Product (EUR, GMT 09:00) The quarterly data is expected to decline to 0.0% from 0.1% and the Annualized Q1 data to also decline to 1.2% from 1.3% The weakness of the German manufacturing sector remains a particular concern for EU watchers.
Weekly Initial Claims (USD, GMT 12:30) – Last week the US initial jobless claims edged up 2k to 232k in the week ended May 27, a little firmer than expected, after bouncing 4k to 230k (was 229k) in the May 20 week, the highest since the April 28 week. This week the data is expected to rise an additional 3k to 235k.
Consumer Price Index (CNY, GMT 01:30) – A minor tick higher for Chinese consumer price inflation is expected to 0.2% from 0.1%, however this remains significantly below the October high of 2.8%, the 2023 high in February at 2.1% and April’s spike to 0.7%. The Chinese recovery remains checkered.
Employment Change & Unemployment Rate(CAD, GMT 12:30) – A muted employment change of only 1.1k is expected following the significant 41.0k gain last month, 34.7k in April, 21.8k in March and the blockbuster 150.0k in February. Unemployment is expected to remain steady at 5% for a 6th consecutive month.
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