Next week the US will be publishing the advance estimate of first-quarter GDP, with market forecasts pointing to an economic growth of 1.8 percent, which would be the weakest pace of expansion over the past two years. In addition, durable goods orders are likely to rebound following February's sharp decline, while both existing and new home sales are seen falling during March from February's 11-month highs. Other notable publications are Chicago Fed National Activity Index, and the final reading of Michigan consumer sentiment.
Elsewhere in America, the Bank of Canada will meet to set monetary policy, but no changes are expected. Other important data include Mexico unemployment and trade figures, and Brazil business confidence.
In the UK, investors will turn their attention to UK Finance mortgage approvals, alongside Nationwide housing prices and public sector net borrowing while the Confederation of British Industry is set to publish its gauges of factory orders, business confidence and distributive trades.
Elsewhere in Europe, the Eurozone will release the first notification of general government deficit and debt for 2018 and April’s flash consumer confidence. Other important data include Germany, France and Turkey business and consumer morale, and Spain first-quarter unemployment rate. The National Bank of Ukraine is likely to cut interest rates by 0.50bps when it meets on Thursday, while central banks in Turkey, Russia and Sweden are expected to leave their monetary policy unchanged.
The Bank of Japan will deliver its latest monetary policy decision and release its quarterly outlook report, with markets anticipating no changes in borrowing costs. Elsewhere, investors will be waiting for unemployment rate, retail sales and the preliminary reading of industrial output. In Australia, analysts are eyeing the publication of first-quarter consumer and producer prices, which is expected to show a slowdown in consumer inflation to an over two-year low. Other key data for the Asia-Pacific region include: South Korea Q1 GDP growth and consumer confidence; New Zealand trade balance; Indonesia interest rate decision; Malaysia inflation; Taiwan and Singapore unemployment rates; and Thailand trade balance.