Investing.com – The week beginning May 10 follows a brutal one for the euro and pound during which the single European currency sank to a fresh 14-month low versus the dollar, against which sterling tumbled to a 1-year trough.
The euro suffered amid heightening fears that Greece's debt crisis would spread across the euro zone. These fears were quelled somewhat on Friday, when German lawmakers approved a rescue package for the embattled Aegean nation. On Sunday, finance ministers of all 27 European Union members met in Brussels to draw up an emergency package to calm financial markets.
The pound, for its part, was hurt after Britain's general election left no party with an overall parliamentary majority. The currency also rebounded slightly on Friday, after the Conservative party's leader, David Cameron, said he would seek to form a coalition with the Liberal Democrats.
Global stock markets, meanwhile, plunged last week as worries over euro zone sovereign debt rippled outward, gripping investors across the world. Following the chaos, which saw the Dow Jones plummet to its biggest intraday fall since Black Monday in 1987, the Securities and Exchange Commission is weighing a radical overhaul of share trading.
In addition to further developments in Greece's debt crisis, the euro is likely to be impacted by a series of economic reports due next week on euro zone industrial production and gross domestic product; and German and French inflation and GDP. The European Central Bank is also due to publish its key monthly report.
The United States, meanwhile, is slated to release important data on unemployment claims, retail sales and its trade balance. The Chairman of the Federal Reserve, Ben Bernanke, is also due to speak at a public engagement next week and a number of reports on U.S. consumer sentiment, industrial production, business and crude oil inventories are scheduled for publication.
Elsewhere in the world, the Bank of England is due to announce a decision on its key interest rate, amid the uncertainty surrounding last week's election, and publish its inflation report. Britain will also release data on unemployment claims, manufacturing production and its trade balance. Canada will also publish data on its trade balance.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
Sunday, May 9
The Bank of Japan will publish the minutes from its policy board's most recent meeting, providing insights into the economic conditions that influenced its decision on where to set interest rates.
Monday, May 10
Germany will publish data on its trade balance, the difference in value between imported and exported goods. France and Italy will then publish reports on their industrial production.
The Bank of England, meanwhile, will announce a decision regarding its benchmark interest rate, and a decision on its quantitative easing program. Industry data will later be published in Britain on retail sales and house prices.
Tuesday, May 11
Germany will publish monthly reports on consumer price inflation and wholesaler price inflation. Britain will then publish key data on manufacturing production and industrial production.
Later in the day, Australia will publish its annual budget, outlining the government's budget for the year.
Also Tuesday, the United States will publish data on wholesale inventories, and a research group will release a report on U.S. consumer confidence.
Wednesday, May 12
Australia will publish a monthly report on home loans, a leading indicator of demand in the housing market. Also Wednesday, Germany will publish a preliminary report on its gross domestic product, the broadest measure of economic activity. Switzerland will then publish a producer price index for its manufacturing sector, showing the change in the price of goods and raw materials.
Britain, meanwhile, will release key data on the change in the number of people claiming unemployment benefits, average earnings and the U.K. unemployment rate.
The BoE will then release its inflation report, which outlines the bank's view of economic conditions and inflation. The central bank's governor, Mervyn King, will also hold a press conference on the matter, during which traders are likely to scrutinize his comments for clues to future shifts in monetary policy.
Later in the day, Canada and the U.S. will publish key reports on their trade balances. The U.S. will also release data on its federal budget balance.
Thursday, May 13
Australia will release important data on its unemployment rate and the change in the number of employed people during the previous month. The European Central Bank will then publish its monthly report, which reveals the statistical data that the ECB Governing Board evaluated while making the latest interest rate decision. Later in the day, Britain will publish a report on its trade balance.
Also Thursday, the U.S. will release data on initial jobless claims, a key indicator of overall economic health. Bernanke is later due to speak at an event in Philadelphia. New Zealand will then publish a monthly report on retail sales, the primary gauge of consumer spending.
Friday, May 14
Canada will publish monthly data on manufacturing sales and new motor vehicle sales. The U.S., meanwhile, will publish reports on retail sales, industrial production and its capacity utilization rate, the percentage of available resources being utilized by manufacturers, mines, and utilities.
Later in the day, the University of Michigan will release the results of its closely watched monthly survey of consumer sentiment. The university will also publish a report on inflation expectations.
The euro suffered amid heightening fears that Greece's debt crisis would spread across the euro zone. These fears were quelled somewhat on Friday, when German lawmakers approved a rescue package for the embattled Aegean nation. On Sunday, finance ministers of all 27 European Union members met in Brussels to draw up an emergency package to calm financial markets.
The pound, for its part, was hurt after Britain's general election left no party with an overall parliamentary majority. The currency also rebounded slightly on Friday, after the Conservative party's leader, David Cameron, said he would seek to form a coalition with the Liberal Democrats.
Global stock markets, meanwhile, plunged last week as worries over euro zone sovereign debt rippled outward, gripping investors across the world. Following the chaos, which saw the Dow Jones plummet to its biggest intraday fall since Black Monday in 1987, the Securities and Exchange Commission is weighing a radical overhaul of share trading.
In addition to further developments in Greece's debt crisis, the euro is likely to be impacted by a series of economic reports due next week on euro zone industrial production and gross domestic product; and German and French inflation and GDP. The European Central Bank is also due to publish its key monthly report.
The United States, meanwhile, is slated to release important data on unemployment claims, retail sales and its trade balance. The Chairman of the Federal Reserve, Ben Bernanke, is also due to speak at a public engagement next week and a number of reports on U.S. consumer sentiment, industrial production, business and crude oil inventories are scheduled for publication.
Elsewhere in the world, the Bank of England is due to announce a decision on its key interest rate, amid the uncertainty surrounding last week's election, and publish its inflation report. Britain will also release data on unemployment claims, manufacturing production and its trade balance. Canada will also publish data on its trade balance.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
Sunday, May 9
The Bank of Japan will publish the minutes from its policy board's most recent meeting, providing insights into the economic conditions that influenced its decision on where to set interest rates.
Monday, May 10
Germany will publish data on its trade balance, the difference in value between imported and exported goods. France and Italy will then publish reports on their industrial production.
The Bank of England, meanwhile, will announce a decision regarding its benchmark interest rate, and a decision on its quantitative easing program. Industry data will later be published in Britain on retail sales and house prices.
Tuesday, May 11
Germany will publish monthly reports on consumer price inflation and wholesaler price inflation. Britain will then publish key data on manufacturing production and industrial production.
Later in the day, Australia will publish its annual budget, outlining the government's budget for the year.
Also Tuesday, the United States will publish data on wholesale inventories, and a research group will release a report on U.S. consumer confidence.
Wednesday, May 12
Australia will publish a monthly report on home loans, a leading indicator of demand in the housing market. Also Wednesday, Germany will publish a preliminary report on its gross domestic product, the broadest measure of economic activity. Switzerland will then publish a producer price index for its manufacturing sector, showing the change in the price of goods and raw materials.
Britain, meanwhile, will release key data on the change in the number of people claiming unemployment benefits, average earnings and the U.K. unemployment rate.
The BoE will then release its inflation report, which outlines the bank's view of economic conditions and inflation. The central bank's governor, Mervyn King, will also hold a press conference on the matter, during which traders are likely to scrutinize his comments for clues to future shifts in monetary policy.
Later in the day, Canada and the U.S. will publish key reports on their trade balances. The U.S. will also release data on its federal budget balance.
Thursday, May 13
Australia will release important data on its unemployment rate and the change in the number of employed people during the previous month. The European Central Bank will then publish its monthly report, which reveals the statistical data that the ECB Governing Board evaluated while making the latest interest rate decision. Later in the day, Britain will publish a report on its trade balance.
Also Thursday, the U.S. will release data on initial jobless claims, a key indicator of overall economic health. Bernanke is later due to speak at an event in Philadelphia. New Zealand will then publish a monthly report on retail sales, the primary gauge of consumer spending.
Friday, May 14
Canada will publish monthly data on manufacturing sales and new motor vehicle sales. The U.S., meanwhile, will publish reports on retail sales, industrial production and its capacity utilization rate, the percentage of available resources being utilized by manufacturers, mines, and utilities.
Later in the day, the University of Michigan will release the results of its closely watched monthly survey of consumer sentiment. The university will also publish a report on inflation expectations.