Key U.S. economic reports scheduled for this week will cover personal income (consensus -6.0%) personal spending (consensus +7.0%), and durable goods orders (consensus +11.6%), along with new releases on new and existing home sales. No large revisions are expected in the 3rd estimate of Q1 GDP (-5.0%) while initial claims are expected to ease to 1.25 million for the week ending June 20.
In Europe, markets will also be paying attention to the minutes of the last European Central Bank meeting along with Germany’s influential Ifo business climate index.
Also of note, the International Monetary Fund releases its updated economic forecasts this week.
