A new week awaits us, starting with the United States, whose treasury minister announced the suspension of the Sino-US trade war as talks between the two countries progressed by agreeing to abandon threats on tariffs they have recently imposed, pushing the US dollar back to 93.83 levels 5-month orbit.
The following are the highlights of economic events this week:
Wednesday - British inflation data
Inflation data is expected to be released in the UK for April, with the annual consumer price index expected to stabilize at 2.5%, the same as in March. Inflation plays a key role in determining the Bank of England's interest rate path, which they kept it with no change at its last meeting.
On the same day, the minutes of the Fed meeting which held in early May will be announced when interest rates remain unchanged.
Thursday – ECB Monetary policy meeting accounts
The ECB did not change its monetary policy at the April meeting. Mario Draghi, the ECB governor, described the economic slowdown as a temporary factor. The quantitative easing program is expected to end at the end of this year with expectations of a rise in interest rates in 2019.
Friday - British growth data
The second reading of UK growth data is scheduled to release for the first quarter of 2018, and GDP is expected to grow by 1.3% on yearly basis and by 0.2% on a quarterly basis following the initial disappointing reading which pushed Sterling down.
