Investing.com - In the week ahead, market players will be turning their attention to a highly anticipated speech by Federal Reserve Chair Janet Yellen on Monday for further clues on the timing of the next U.S. rate hike.
The last full week before the Fed’s June 14-15 meeting is relatively light on data, with most of the focus likely to fall on consumer sentiment figures on Friday to gauge the health of the economy.
Meanwhile, China is to release what will be closely watched trade and inflation data amid ongoing concerns over the health of the world's second biggest economy.
Outside the G7, traders will be awaiting monetary policy announcements from the Reserve Bank of Australia on Tuesday and the Reserve Bank of New Zealand on Wednesday.
Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.
1. Fed Chair Yellen speaks
Federal Reserve Chair Janet Yellen is due to speak about the U.S. economic outlook and monetary policy at the World Affairs Council of Philadelphia at 16:30GMT, or 12:30PM ET, Monday.
Her speech could take on extra importance following last week’s dismal nonfarm payrolls report.
2. U.S. Michigan consumer sentiment
The preliminary University of Michigan June consumer sentiment index scheduled for release at 14:00GMT, or 10:00AM, on Friday is expected to inch down to 94.0 from 94.7 in May.
Market players have been paying close attention to U.S. consumer sentiment numbers in recent months to gauge the health of the economy.
3. Chinese trade data
China is to release May trade data at around 03:00GMT on Wednesday, or 11:00PM ET, Tuesday. The report is expected to show that the country’s trade surplus widened to $58.0 billion last month from $45.6 billion in April.
Chinese exports for May are forecast to have dropped 3.6% from a year earlier, following a decline of 1.8% a month ago, while imports are expected to slump 6.0%, after falling 10.9% in April.
On Thursday, China is to publish reports on May consumer and producer price inflation. The data is expected to show that consumer prices rose 2.3% last month, while producer prices are forecast to fall by 3.3%.
4. Reserve Bank of Australia rate decision
The RBA's latest interest rate decision is due on Tuesday at 4:30GMT, or 12:30AM ET. Most economists expect no policy change, after the central bank surprised with a 25 basis point rate cut at its previous meeting to a historic low of 1.75% in an effort to boost inflation and spur economic activity.
5. Reserve Bank of New Zealand monetary policy update
The Reserve Bank of New Zealand’s monetary policy update is due at 21:00GMT, or 5:00PM ET, on Wednesday. Market experts are split on whether the RBNZ will move on rates, with some predicting a 25 basis point cut to a record low 2.0%, while others expect no change.
Stay up-to-date on all of this week's economic events by visiting: http://www.investing.com/economic-calendar/