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Minutes of the latest Federal Reserve policy meeting and jobless claims data were the highlights of the week. As the trade tariff threats linger, exports data from German drew attention in Europe. Inflation data from China and the Reserve Bank of Australia policy decision were in focus in Asia.

U.S. labor market data was the highlight on the economics front in this holiday-shortened week. Survey data on the manufacturing and services sectors also were in focus. In Europe, inflation data from the euro area was the main news as it helped to shape expectations regarding the future path of interest rates. U.K. GDP data for the first quarter was also in the news. In Asia, the purchasing managers’ survey results from China gained attention.

All eyes were on the Federal Reserve Chair Jerome Powell this week as he testified before lawmakers to throw light on the future path of monetary policy. Revised GDP figures also gained attention along with other official data on housing and labor market. In Europe, results of business surveys were the main news. Inflation data from Australia was in focus in the Asia-Pacific.

Major central banks were in focus this week as they announced their policy decision while concerns over spillovers from the ongoing Middle East conflict dominated policymakers’ thinking. In the U.S., the main news was the Fed rate decision and some key economic data including the latest retail sales figures. In Europe, several central banks, the main ones being those of the U.K. and Switzerland, revealed their latest interest rate decisions. In Asia, the Bank of Japan was in news for the same.