The US-China trade tensions continue to be seen in the wake of US President Donald Trump's threat to impose additional tariffs of up to $ 500 billion on Chinese goods.
Trump will also meet with European Commission President Jean-Claude Juncker. The meeting follows the tariffs imposed on US steel and aluminum imports from the European Union, as well as Trump's emphasis on additional measures on European vehicles.
Also this week, the results of the work of about 170 companies in the S & P 500 index and about 11 companies in the Dow index will be announced. The focus will be more on the FANG stock group (Google, Facebook, and Amazon).
The following are the most important economic data this week:
Australian inflation data
Australian inflation data is expected to be released. The consumer price index slowed in the first quarter of 2018 to 0.4%, while the core consumer price index rose by 0.5%. Consumer prices are expected to rise by the same rate in the second quarter of 2018. Suggests that the Reserve Bank of Australia kept interest rates unchanged for a long time after two years of keeping them at record low levels.
Growth data in the United States
Investors will watch preliminary US growth data on Friday to see more evidence supporting the Federal Reserve's continued interest rate hike and tightening monetary policy. GDP is expected to rise by 4% in the second quarter of 2018.
ECB rate decision
The European Central Bank is due to announce its interest rate decision next Thursday and interest rates are expected to remain unchanged, but attention will be focused on the press conference of the ECB President Mario Draghi.
