Last week, we payed special attention to the AUD employment change which dropped significantly to -22.1K after strong growth in March. The US reported a 0.5% increase in retail sales amidst growing concerns over soaring gas prices and Friday’s Core CPI Report was monitored all week as US economists fear that global inflation would inevitably cross the Atlantic and affect U.S. household budgets.Here’s what we want to focus on for next week:
1. Tuesday May 17, 2011- 4:30 am- UK CPI y/y
2. Wednesday May 18, 2011- 4:30 am- UK MPC Meeting Minutes
3. Thursday May 19, 2011- 4:30 am- UK Retail Sales m/m
4. Thursday May 19, 2011- 10:00 am- US Existing Home Sales
5. Friday May 20, 2011- 7:00 am- CA Core CPI m/m
6. Friday May 20, 2011- 8:30 am – CA Core Retail Sales m/m
This week, the UK will be releasing its yearly CPI report which will receive heavy attention because its importance in creating central banks’ inflation target. Following that, the MPC meeting Minutes will be released to show votes of the interest rate meeting two weeks ago.
The US housing market hopes to continue with last months’ rise in existing home sales. A strong report could help diminish growing concerns that linger after it was reported that foreclosures rose last month.
We’ll close the week with the Canadian CPI and Retail Sales which are likely to affect the valuation of the CAD amidst volitile commodity trends.
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