Source: Sharecast
Consumer prices across the eurozone are expected to have grown by just 0.1% in May, compared with a 0.6% increase in April.
The year-on-year rate of change is tipped to have eased to 2.1% from 2.2%, while the core annual rate is estimated to have fallen to 2.6% from 2.7%, which is widely expected to give the European Central Bank a green light to cut interest rates when policymakers meet on Thursday.
"The market has priced in a 99.4% chance of a rate cut from the ECB when they meet this week. This cut will likely be justified by a deceleration in inflation in the Eurozone last month," said Kathleen Brooks, research director at XTB. "ECB members have been getting more dovish in recent weeks, according to their speeches, which is another sign that the doves are in control at the bank."
A scheduled speech from ECB president Christine Lagarde scheduled at 1800 BST will likely draw some attention, though is unlikely to give away too much regarding Thursday's decision.
The eurozone unemployment rate for April will also be released on Tuesday, though this is expected to stay steady at the record-low rate of 6.2% for the seventh month in a row.
Over in the US, the JOLTS job openings figure is forecast to fall to around 7.1m for April, down from March's six-month low of 7.192m. The release comes ahead of crucial labour-market data due out later in the week, including the ADP employment report on Wednesday and the all-important non-farm payrolls number on Friday – with the latter expected to show a big slowdown in job creation in May.
In the UK, there will be a Treasury Select Hearing on the May monetary policy report, at which the Bank of England cut the Bank Rate from 4.5% to 4.25%. The hearing, which will involve policymakers Andrew Bailey, Sarah Breeden, Swati Dhingra and Catherine Mann, comes just two weeks before the next Monetary Policy Committee meeting on 18 June.
Tuesday 03 June
INTERIMS
Chesterfield Special Cylinders Holdings, Gooch & Housego
QUARTERLY PAYMENT DATE
JpMorgan China Growth & Income
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Unemployment Rate (EU) (10:00)
Harmonized Index of Consumer Prices (EU) (10:00)
Factory Orders (US) (15:00)
JOLTS Job Openings (US) (15:00)
Q3
Ferguson Enterprises Inc. (DI)
FINALS
Engage XR Holdings (CDI), FD Technologies Public Limited Company, Pennon Group, Theracryf
SPECIAL DIVIDEND PAYMENT DATE
4Imprint Group
AGMS
Afarak Group SE (DI), Billington Holdings, Elecosoft Public Limited Company, International Public Partnerships Ltd., Life Science REIT, Maintel Holdings, Pagegroup, The Pebble Group, Tinybuild Inc. (DI)
FINAL DIVIDEND PAYMENT DATE
4Imprint Group, Hammerson, Rotork
UK ECONOMIC ANNOUNCEMENTS
Bank of England Monetary Policy Report Hearings (10:15)