This week, inflation figures are due from Europe and the U.S., including the Federal Reserve's preferred price gauge. Fed Chairwoman Janet Yellen will speak in London, and Brazil's Senate likely will hold a final vote on a contentious bill to overhaul its labor law.
MONDAY: The U.S. Commerce Department releases the durable-goods report for May. Demand for long-lasting factory goods fell in April, hinting at potential speed bumps for the manufacturing sector. Economists will be watching for an indication of whether last month's report was a blip in the data. Economists surveyed by The Wall Street Journal forecast durable-goods orders fell 0.4% in May.
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TUESDAY: Federal Reserve Chairwoman Janet Yellen will speak in London on global economic issues, in a moderated question-and-answer session with the audience. As the Fed considers the timing of another interest-rate increase and the start of its plan to wind down its asset holdings, economists expect Ms. Yellen to stress the Fed will base its decisions on incoming economic data.
WEDNESDAY: Brazil's Senate is likely to hold on Wednesday or Thursday a final vote on a bill that would loosen the country's mazelike labor law, which has been a deterrent for investment. The bill has been under debate for months, and markets rallied as it advanced through the lower house earlier this year. But corruption allegations against the proposal's main supporter, President Michel Temer, who denies wrongdoing, have fanned opposition, making its approval more complicated.
FRIDAY: Inflation figures from around the eurozone will be in focus throughout the week, culminating Friday in the release of numbers for the currency area as a whole. Economists estimate the annual pace of price rises during June eased in Italy, Spain, France and Germany. For the eurozone, the annual rate of inflation is expected to drop to 1.2%, from 1.4% in May. That would be the smallest rise in 2017, and likely reinforce the European Central Bank's reluctance to dial down its stimulus measures, despite signs of a continuing pickup in economic growth.
The U.S. Commerce Department releases data on personal income and outlays for May. The Fed will watch this report to see whether its preferred inflation gauge, the price index for personal-consumption expenditures, shows signs of firming after several inflation measures have signaled softness recently. Economists surveyed by WSJ expect personal income grew 0.3% last month. Spending growth is seen coming in lighter than income, with a 0.1% increase projected, likely due to a soft retail sales report for May.
(END) Dow Jones Newswires
June 25, 2017 15:14 ET (19:14 GMT)