A large number of key economic reports, central bank meetings, and geopolitical events this week (June 2 – 6) should allow market participants to better gauge global growth as we approach the halfway point of the year. The week includes seven major central bank meetings, with the June 5 European Central Bank (ECB) policy announcement getting most of the attention. The data due out earlier in the week on manufacturing, inflation, unemployment, and consumer spending in the Eurozone for April and May will help to inform the ECB’s decision. On the geopolitical front, Ukraine will be in focus when the North Atlantic Treaty Organization (NATO) meets on Tuesday, and the leaders of the G-7 (the G-8 minus Russia) convene on Wednesday. On Friday, June 6, world leaders will gather to mark the 70th anniversary of the D-Day landing in Normandy. Finally, there are municipal elections in South Korea, and Egypt will announce the results of the presidential election it held last week.

Better Gauges of Global Growth Ahead