Investing.com - In the week ahead, investors will continue to focus on U.S. economic reports to gauge if the world's largest economy is strong enough to withstand further rate hikes in 2016, with Friday’s retail sales and producer price inflation data in the spotlight.
In addition, there are more than a half-dozen Fed speakers on tap as traders search for more clues on the timing of the next U.S. rate hike.
Elsewhere, China is to release a flurry of economic data, including reports on the trade balance and consumer price inflation, as market players look for further indications on the strength of the world’s second largest economy.
Meanwhile, Thursday’s rate decision and monetary policy meeting minutes from the Bank of England will also be in focus.
Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.
1. U.S. April retail sales report
The Commerce Department will publish data on April retail sales at 12:30GMT, or 08:30AM ET, Friday. The consensus forecast is that the report will show retail sales rebounded 0.7% last month, after falling 0.4% in March. Core sales are forecast to increase 0.5%, after rising 0.1% a month earlier.
2. U.S. PPI data
Also at 12:30GMT, or 8:30AM ET, on Friday, the U.S. is to release data on producer price inflation. Producer prices are expected to increase 0.3% in April, after dropping 0.1% a month earlier, while core prices are forecast to inch up 0.1%, following a 0.1% decline in March.
3. Fed speakers
Market players will pay close attention to a number of speeches from Federal Reserve officials during the week to judge the balance of opinion among policymakers on the prospect of further rate hikes.
The Fed speakers start Monday with Chicago Fed President Charles Evans, Minneapolis Fed President Neel Kashkari and San Francisco Fed President John Williams all due to speak throughout the day.
Tuesday sees New York Fed President William Dudley, the official viewed as most closely aligned with Fed Chair Janet Yellen, take the stage.
Cleveland Fed President Loretta Mester, Boston Fed President Eric Rosengren and Kansas City Fed President Esther George will speak at public events on Thursday, followed by San Francisco Fed's Williams on Friday.
4. Chinese trade data
China released monthly trade data on Sunday, which showed that both exports and imports fell more than expected in April.
Exports slumped 1.8% from a year earlier, worse than forecasts for a decline of 0.1%, while imports dropped 10.9%, compared to expectations for a fall of 5.0%. That left China with a surplus of $45.6 billion last month, the General Administration of Customs said.
The Asian nation will also publish data on April consumer and producer price inflation on Tuesday, followed by reports on industrial production, fixed asset investment and retail sales late on Friday.
5. Bank of England "Super Thursday"
The Bank of England will release its rate decision as well as minutes of its Monetary Policy Committee meeting and its quarterly inflation report at 11:00GMT, or 07:00AM ET, on Thursday. Last month, the Monetary Policy Committee voted 9-0 to keep rates on hold at a record low 0.5%.
Expectations for a rate hike by the Bank of England have been pushed back to early-2017 due to a recent spate of weaker than expected data and amid uncertainty over a referendum on whether or not Britain should stay in the European Union.
Stay up-to-date on all of this week's economic events by visiting: http://www.investing.com/economic-calendar/