The week will feature important data releases from the US, including GDP, core PCE, durable goods orders, consumer confidence, home prices, personal income and spending, and Canada GDP.
The minutes from the May 6-7 US Federal Open Market Committee (FOMC) meeting will be closely analysed for insights into the Fed’s stance on interest rates.
US GDP, goods trade, and PCE inflation data will help assess the timing of potential rate cuts amid tariff uncertainty. The impact on mainland China will be evaluated through the NBS PMI.
Focus will also be on Nvidia’s quarterly results on Wednesday, given its significant influence on benchmark equity indexes.
German inflation data, expected to be released on Friday, will be monitored, with market expectations for inflation to fall to 2% from 2.2% in April and core prices to drop to 2.7% from 3.1%.
The European Commission will release its monthly business sentiment index on Tuesday.