The Business News Week Ahead

The week's most important data will be on Thursday with US GDP where staggering contraction of 35.0 percent is Econoday's consensus. GDP for France and the Eurozone follow on Friday amid expectations for low double-digit contraction. Components of US GDP will be updated early in the week: durable goods on Monday and goods trade on Wednesday. Germany will post two very important reports with the July unemployment rate on Thursday followed on Friday by June retail sales. Japanese data will include retail sales on Thursday, which are not expected to improve, and industrial production on Friday which is. Little change at marginal growth is once again the call for Friday's CFLP manufacturing PMI from China. Sentiment indicators can often move markets and they will also be a feature of the week, opening with Germany's Ifo report on Monday, US consumer confidence on Tuesday and also Eurozone economic sentiment on Thursday. Monetary policy is also in the mix, specifically a Federal Reserve statement and press conference on Wednesday where the bank's official support of the corporate bond market is a likely topic.