Following a strong jobs report, a signed deal to raise the nation’s borrowing limit, and the beginning of the Federal Reserve’s quiet period ahead of its June 13-14 policy meeting, investors will get a reprieve of sorts in the week ahead.
The economic calendar is light in the coming week but rate decisions in Canada and Australia will be in the spotlight.
Apple’s latest Worldwide Developers Conference on Monday at its headquarters in Cupertino, California will be among the week’s biggest events, with the iPhone maker set to reveal its mixed reality headset, among other upgrades across its product line.
The ISM services PMI is out on Monday and is expected to point to a still solid rate of expansion, in contrast with the manufacturing PMI which contracted for a seventh straight month in May.
Other reports include Wednesday’s trade figures and Thursday’s initial jobless claims numbers.
The European Central Bank is to publish the results of its consumer expectation survey on Tuesday which will show whether inflation expectations are becoming more entrenched.
ECB President Christine Lagarde is to testify before the Committee on Economic and Monetary Affairs of the European Parliament on Monday and her comments will be closely watched.
Other ECB officials due to make appearances before the central bank enters its quiet period on Thursday ahead of its June 15 meeting include board members Luis de Guindos and Fabio Panetta.
Investors will get an update on the outlook for the global economy when the World Bank releases its latest projections for global growth on Tuesday, followed a day later by OECD with its own forecasts.
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