What to Expect this Week

This week, in the United States, the Federal Reserve Open Market Committee meets but we don't expect any changes in the current monetary policy due to renewed global growth risks. In terms of data releases, new home sales probably fell in May as the housing tax credit expired.
TradingEconomics.com 6/19/2010 5:00:51 PM

In the Euro Area, the composite Purchasing Managers Index Survey is likely to decline in June because of a drop in confidence in the service sector. Consumer confidence is also expected to fall because of new fiscal austerity measures. In Japan, core inflation probably stayed in deflationary territory in May. However, exports may record another gain as demand from other Asian countries is still strong. In the United Kingdom, investors will be looking for a release of an emergency budget where deep cuts in government spending are widely anticipated. In Canada, headline inflation is likely to decline in May. In New Zealand, first quarter GDP may show 0.5% growth from the last three months of 2009. Finally, on June 26 and 27, the G20 Toronto Summit will take place. The agenda is likely to include financial regulations and global imbalances, including the revaluation of Chinese yuan.