​​​​​​​Economic calendar: retail sales in the background of rising Middle East conflict 🔎

The key macroeconomic report today will be the release of U.S. retail sales data for May. The consensus expects a drop of as much as 0.5% MoM, compared to a 0.1% MoM increase in April.

Later, we will also see the industrial production report for May, which is expected to rise by 0.1% MoM, compared to 0.0% MoM in April.

Detailed calendar for the day:

10:00 AM BST, Germany - German ZEW for June:

• Current Conditions: forecast -74.0; previous -82.0;
• Economic Sentiment: forecast 34.8; previous 25.2;

01:30 PM BST, United States - Retail Sales Data for May:

• Retail Sales: previous 5.16% YoY;
• Retail Sales: forecast -0.5% MoM; previous 0.1% MoM;
• Core Retail Sales: forecast 0.2% MoM; previous 0.1% MoM;
• Import Price Index: forecast -0.2% MoM; previous 0.1% MoM;
• Export Price Index: forecast -0.1% MoM; previous 0.1% MoM;

02:15 PM BST, United States - Manufacturing Production for May:

• forecast 0.1% MoM; previous -0.4% MoM;

02:15 PM BST, United States - Industrial Production for May:

• Industrial Production: forecast 0.0% MoM; previous 0.0% MoM;
• Industrial Production: previous 1.49% YoY;