Guide to today’s important data and events

Lot of economic releases today, with moderate risk associated. Focus is on manufacturing data/survey and speech by ECB president Mario Draghi.

Data released so far -

• Australia - Consumer inflation expectation grew to 3.6% in May.

• Japan - PMI grew to 50.9 in May from 49.9 prior. All industry activity index dropped by -1.3% in March.

• China - HSBC manufacturing PMI grew 49.1 in May from 48.9. This is a preliminary release.

Upcoming -

• France - Manufacturing PMI to be released at 7:00 GMT along with services and Composite PMI.

• Germany - Manufacturing PMI along with services and composite to be published at 7:30 GMT.

• Italy - Italy will release wage inflation statistics for April at 8:00 GMT.

• Euro zone - Manufacturing and services PMI to be released along with current account details at 8:00 GMT. ECB will release its minutes of meeting at 11:30 GMT. Euro zone consumer confidence data is scheduled at 14:00 GMT, followed by speech from ECB president Mario Draghi at 17:30 GMT.

• UK - Retail sales are scheduled at 8:30 GMT followed by industrial trend survey at 10:00 GMT.

• Portugal - Current account balance is scheduled for release around 10:30 GMT.

• US - Lot of economic releases are scheduled today along with two FED president scheduled to speak. Initial jobless claims will be released at 12:30 GMT along with Chicago FED national activity index. Philadelphia FED manufacturing survey is scheduled at 14:00 GMT along with stats on existing home sales. Kansas fed manufacturing activity for may will be released at 15:00 GMT. FOMC member Stanley Fischer is scheduled to speak at 17:30 GMT and Williams at 23:00 GMT. EIA will release its weekly Natural gas report at 14:30 GMT.