At 12:30 GMT, Chicago Fed National Activity Index (May) is expected to be 0.09 from a previous 0.34. This data has held above the zero level for 2018 with a high set at 0.88 in the February reading. This shows a healthy economy with the 2018 average at a higher level than previous years. A slip under zero can cause a market reaction but is not a worry in itself with the normal range being re-established. USD crosses can see spikes in volatility during this time.
At 14:00 GMT, US New Home Sales (MoM) (Apr) is expected to come in at 0.666M from 0.662M previously. The data is expected to gain some ground on last month and is holding steady between 0.600M and 0.700M. Further improvement in these figures shows a pickup in confidence in the US housing market. USD crosses may be volatile due this data and could lead to further USD strength.
Major data releases for this week:
On Tuesday at 13:00 GMT, US S&P/Case-Schiller Home Price Index data will be released.
On Wednesday at 08:30 GMT, BOE Governor Mark Carney will speak and the Financial Stability Report will be published.
At 12:30 GMT, US Durable Goods data will be out.
At 21:00 GMT, the RBNZ Rate Statement and Interest Rate decision will be released.
On Thursday at 12:00 GMT, German Consumer Price Index data will be published.
At 12:30 GMT, US Gross Domestic Product and Personal Consumption Expenditure data will be out.
On Friday at 09:00 GMT, Eurozone Consumer Price Index data will be released.
At 12:30 GMT, US Personal Consumption Expenditure – Price Index data will come out
