The Business News Week Ahead

Major inflation readings won't be posted until Friday, led by the first look at consumer inflation in a major economy during the month of May, which will be from France amid expectations for moderate pressure. The final look at US prices during the month of April will headline the personal income and outlays report where the Fed's PCE price targets are expected to post similar spikes to those seen in the consumer price report already reported. Central bank meetings will include the Reserve Bank of New Zealand on Wednesday and the Bank of Korea on Thursday, neither of which are expected to change policy. The repeated indicator theme of the week will be sentiment in Europe and the US and whether, and by how much, spirits are improving; data will include the Ifo business climate and GfK consumer climate reports both from Germany, US consumer confidence, France's business climate indicator, and Italy's business and consumer confidence report. US durable goods on Thursday and US goods trade on Friday could be market movers, especially if they show strong indications of underlying demand and with that, by extension, further risk of inflationary pressures. One report that has far surpassed expectations the last two months is the KOF Swiss leading indicator which will be posted on Friday.