Next Week’s News Today: Yellen Speaks

The market could be hanging onto every word that Janet Yellen utters on Tuesday, when the Fed chair speaks at the World Affairs Council of Philadelphia. Her speech could take on extra importance following the abysmal jobs creation numbers – just 38,000 – this week.

The disappointment over the numbers could be softened if Initial Jobless Claims come in below 300,000 again. Last week 267,000 filed for unemployment benefit. This was a decrease of 1,000 from the previous week.

Elsewhere, trade data from China could be closely eyed for signs of stability in the world’s second-largest economy. In April, China said exports declined by 1.8%, while imports dropped by 10.9%.Both numbers came in below analyst expectations.

Japan will report producer prices for May. Prices decreased by 4.2% in April compared to a 3.8% drop in March. The deflation at Japan’s factory gates could put pressure on policymakers to find new ways to stoke inflation.

India has another interest-rate decision to make next week. Last month, the Reserve Bank of India cut its benchmark rate by a quarter percent to 6.5%. The general consensus is that the central bank will keep interest rates unchanged this month. But it might cut them between July and September.

As Britain moves closer to a vote on whether to stay in or leave the European Union, a number of economic indicators could tip the balance in either direction. These include the Balance of Trade for April and the closely-watched Halifax House Price Index. House prices fell in April but they are still 9.2% higher compared to a year ago.

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