The Business News Week Ahead

Scheduled monetary policy news is light in the coming week, opening with China's loan prime rate on Tuesday and a Bank of England announcement on Thursday. No moves for either are expected. Inflation news will be limited to Friday's PCE readings in the US personal income and outlays report where very elevated pressure, in line with the already released CPI, is the expectation. Consumer news will include the EC consumer confidence flash on Tuesday, where further improvement is expected, and will include retail sales reports from Australia on Monday and Canada on Wednesday. New home sales on Wednesday and initial jobless claims on Thursday will offer clues on household conditions in the US. Readings on business confidence will include reports from France and Germany on Wednesday and Italy on Friday. Updates on the manufacturing sector will be limited to CBI Industrial trends from the UK on Tuesday and US durable goods on Thursday, the latter expected to show strength. A focus of the week will be flash PMIs for June, all on Wednesday in a sweep that is expected to be highlighted by continued recovery for the global services sector. Trade data will be limited to advance goods data from the US on Friday.