Business confidence data from Germany along with consumer sentiment and current account data from the eurozone is due on Tuesday, headlining a busy day for European economic news. Elsewhere, British Chancellor George Osborne is expected to unveil painful cuts and tax rises as he delivers his first budget to parliament today. All times in ET.
On Monday, the markets had very little economic news to digest and among them was Italy's non-E.U. trade balance, which showed a deficit for the fifth straight month. Elsewhere, Hungary's central bank maintained its key policy rate at a record low 5.25% for the second month running as expected.
At 2:15 am, the Swiss customs office is scheduled to release trade data for May. A trade surplus of CHF 2.02 billion was recorded in April.
Unemployment data for May is due from Statistics Sweden at 3:30 am. Economists expect the unemployment rate to fall to 9.4% from 9.5% in the previous month.
At 4:00 am, Germany's business sentiment data for June is due from the Ifo institute. The business climate index is seen falling to 101.2 from 101.5 in the previous month. The anticipated weakness is primarily based on muted outlook for the future in the aftermath of the sovereign debt criss, which has led to volatity in the financial markets. The expectations index is forecast to slide to 102.7 from 103.7, while the current conditions index is expected to rise to 99.8 from 99.4.
In the meantime, current account data for April is due from the European Central Bank. A current account surplus of EUR 1.7 billion was recorded in March.
Britain's Chancellor George Osborne is expected to unveil the toughest set of tax increases and spending cuts in a generation when he delivers his emergency budget to parliament today at 7:30 am.
Afterwards at 10:00 am, the European Commission is scheduled to release its flash estimate for consumer sentiment for the eurozone. The indicator is seen falling to -19 in June from -18 in May.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.