Fundamentals to watch out for this week

This week is relatively risk heavy with data and events. Focus is on Janet Yellen speech.

What to watch for over the coming days:

• Flash PMI reading from Europe 

Market will closely watch out for PMI reports from Europe to see, whether growth slows or recovers.

• Glenn Stevens’ speech 

Australia’s central bank governor Glenn Stevens is scheduled to speak on Tuesday and will be closely watched to see, whether he drops another rate cut hint or not. RBA in recent days has reversed its position from hawkish to dovish.

• Euro area meeting on Greece 

Tuesday Euro Zone finance ministers will meet on Tuesday to determine, whether Athens is eligible for bailout loans or not?

• BOC rate decision

Bank of Canada will announce monetary policy decision on Wednesday. In recent days, Canadian economy, especially energy sector has been hit hard by wildfire, which has taken away around 1.8 million barrels/day worth of production offline, amid lower crude price. Will BOC take action to address the issue?

• G-7 meeting

Thursday will mark the start of two day G-7 meeting in which Japanese Prime Minister Shinzo Abe is widely expected to raise the Yen issue to the leaders, excessive strengthening of it. This meeting could define whether BOJ will intervene or not. It will also table discussions on global stimulus, refugee crisis, China’s aggression in Asia and climate changes.

• Janet Yellen

Mega events of the week is on Friday, when FED chair Janet Yellen will be speaking on monetary policy and market will be looking for cues over June rate rise.