Key events in the week ahead – Deutsche Bank

Deutsche Bank's analysts note that in today’s U.S. session, the Fed's Daly, Barkin and Bullard are due to speak, while the U.S. President Trump travels to the UK where he is expected to meet with UK PM May (continuing through to Wednesday).

• “Tuesday: In terms of data, in Europe, the May CPI report for the Euro Area is due along with the April unemployment rate, while in the US we'll get final April durable goods, capital goods and factory orders data. Meanwhile the Fed's Powell, Williams and Brainard are due to speak, the former making opening remarks at a Fed research conference.
• Wednesday: The remaining final May PMIs will be due in Japan, China, Europe and the US along with April PPI and retail sales for the Euro Area, and the May ISM nonmanufacturing and ADP employment print in the US. Away from that, the BoE's Ramsden is due to speak in the morning, followed by the Fed's Clarida, Bowman and Bostic. The Fed's Beige Book is also due to be released. Elsewhere, China's Xi Jinping makes a two-day state visit to Russia while President Trump meets Ireland PM Varadkar.
• Thursday: The ECB policy meeting will likely be the main focus of the day, while data releases in Europe include April factory orders in Germany and final Q1 GDP revisions for the Euro Area. In the US, we're due to get final Q1 readings for nonfarm productivity and unit labour costs, jobless claims and the April trade balance. The Fed's Kaplan and Williams are also due to speak, while the BoJ's Kuroda and BoE's Carney are also scheduled to make comments. President Trump is expected to meet France President Macron.
• Friday: The May employment report in the US will be the main data focus. Also due are April industrial production prints in Germany and France, April trade balance in Germany and April wholesale inventories and consumer credit in the US. The May foreign reserves reading for China is also expected at some stage. Meanwhile, UK PM May is due to step down as leader of the Conservative Party.”