Local data to be released this week affects the consumer, with retail sales the first figure due on Wednesday.
The headline year-on-year retail figure has been in decline since January, with clothing, textiles, footwear and leather goods, and sales of household furniture, appliances and equipment under particular pressure.
Apart from the data it is always important to keep an eye on the sentiment shifters in the market.
European stocks are in the sweet spot, it seems, as the outcome of the recent French elections settled uncertainty over further departures from the European Union for now.
Stronger fundamental data from the US helped offset some of the political turmoil that was caused by the sudden dismissal by President Donald Trump of the FBI chief James Comey, firming expectations of a rate hike by the US Federal Reserve at its next meeting in June.
Other important economic data to be released this week:
Monday
• Chinese Industrial Production
Tuesday
• UK Consumer Price Index
• EU GDP, German ZEW Economic Sentiment Index
• US Building Permits
Wednesday
• UK Unemployment
• SA Retail Trade Sales
• SA Statistics for Civil Cases for Debt
Thursday
• EU French Unemployment
• UK Retail Sales
• US Unemployment Claims
• SA Motor Trade Sales
Friday
• EU Consumer Confidence
Giacomo Bonavera is head of foreign exchange trading at Capilis Asset Managers. Click here to visit the firm’s website.