Inflation data from the UK and German economic sentiment survey results from ZEW are the major economic news due from Europe on Tuesday.
At 2 am ET, the European Automobile Manufacturers' Association, or ACEA, is scheduled to release data on European new car registrations for the month of May.
A leading indicator of Chinese economic activity rose marginally in May and at a slower pace than a month earlier, suggesting more sluggish growth for the overall economy in the months ahead. The Conference Board said that its leading economic indicator rose 0.3 percent month-on-month in May, slower than a 1.5 percent increase in April. Only three of the six components contributed positively.
Members of the Reserve Bank of Australia's monetary policy board felt that the central bank could still allow for additional monetary easing because inflation remains in check, minutes from the bank's June 4 meeting revealed on Tuesday.
The easing might become necessary down the road, the bank said,...
The dollar is trading basically flat in comparison to its major competitors on Monday. Investors are playing it cautious, as they await developments from the 2-day FOMC meeting, which will begin tomorrow. Federal Reserve Chairman Ben Bernanke is expected to address some investor concerns after the meeting...
Homebuilder confidence in the U.S. jumped much more than expected in the month of June, according to a report released by the National Association of Home Builders on Monday, with the group's homebuilder confidence index surging up to a seven-year high. The report said the NAHB/Wells Fargo Housing Market Index soared to 52 in June from 44 in May.
Conditions for New York manufacturers improved modestly in the month of June, according to a report released by the Federal Reserve Bank of New York on Monday, with the index of activity in the sector climbing into positive territory. The New York Fed said its general business conditions index rose to a positive 7.8 in June from a negative 1.4 in May.
India's central bank decided to keep its key interest rates steady as a weak currency and the huge current account deficit limited room for another rate cut. At the mid-quarter review on Monday, the Reserve Bank of India, led by Governor Duvvuri Subbarao, maintained the repo rate at 7.25 percent and the reverse repo rate at 6.25 percent.
Singapore's non-oil exports declined more than expected in May, due to a drop in electronic shipments, the latest data from International Enterprise (IE) Singapore showed Monday. The non-oil domestic exports (NODX) fell 4.6 percent year-on-year in May, following a 1 percent decrease in April. Economists had forecast a 1 percent decline in exports.
Asking price for a property in the UK rose to a fresh record high in June, lifted by a jump in prices in the South East and London, a survey by Rightmove revealed Monday. The average property asking price was GBP 252,798 in June compared with GBP 249,841 in May. Prices increased 1.2 percent month-on-month in June, posting the sixth consecutive monthly rise. London set another record in May.
The dollar is currently up against its major European competitors at the end of the trading week, but is losing ground against the Japanese Yen. The release of the minutes from the most recent meeting of the Bank of Japan was in focus Friday, as well as a series of U.S. economic reports.
Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of June, according to a report released by Thomson Reuters and the University of Michigan on Friday, with the consumer sentiment index pulling back off a nearly six-year high. The report showed that the preliminary reading on the consumer sentiment index for June came in at 82.7, down from the final May reading of 84.5.
With a sharp drop in utilities output offsetting increases in mining and manufacturing output, the Federal Reserve released a report on Friday showing that U.S. industrial production unexpectedly came in unchanged in the month of May. The report said industrial production came in flat in May following a revised 0.4 percent decrease in April.
Producer prices in the U.S. rose by more than anticipated in the month of May, according to a report released by the Labor Department on Friday, with the price growth largely due to a notable rebound by energy prices. The Labor Department said its producer price index rose by 0.5 percent in May following a 0.7 percent decrease in April.
Annual inflation in India continued to ease in May, with wholesale prices rising at the weakest pace in three-and-a-half-years. However, a rate cut is highly unlikely on Monday as the extreme weakness of the rupee could lift import costs of the nation, which relies heavily on overseas crude oil. Inflation based on the wholesale price index eased to 4.7 percent, a 43-month low.
The members of the Bank of Japan's monetary policy board said that the Japanese economy had finally started to move to the upside, minutes from the board's meeting on May 21 and 22 revealed on Friday. On the matter of ending the deflation that has plagued Japan for more than 15 years, some of the board members admitted that it could be difficult to attain the bank's new CPI target of 2 percent.