US and UK GDP in focus next week

Next week begins rather quietly as many major markets will be closed on Monday for holidays. Europe will observe the Whit Monday holiday while in the US markets will close for Memorial Day.
The only data to note will be from Japan on its trade balance.

On Tuesday New Zealand’s turn to release trade balance data. No Major Eurozone data. From the UK, the Confederation of British Industry releases latest retail sales figures.

In the US, durable goods orders and consumer confidence figures are issued alongside the S&P/Case-Shiller Home Price Index. Moreover, Markit releases its flash US Services PMI.

On Wednesday it will be good to monitor consumer confidence data out of Germany that will be compiled by Gfk. German retail sales data are also due on Wednesday. Later in the data, the Bank of Canada announces its latest interest rate decision, followed by building permit data to be published in the US.

On Thursday, Japan releases retail sales data. Then focus will turn to the US session for US initial jobless claims data.

Finally on Friday, Australian new home sales numbers and private sector credit information are issued. Also in the Asian session, a batch of Japanese data are out, which include consumer price, unemployment and industrial output data.

The UK will update GDP numbers as will the US.

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