After the Bank of England raised interest rates to a six year high of 5.75 percent, the central bank also noted that “the balance of risks” to price stability still “lie to the upside,” leaving the door open to a move to 6.00 percent before year-end.

The Canadian labor market is anticipated to tighten for the second consecutive month in June, with 17,000 workers predicted to have been hired on net, leaving the unemployment rate at a 33-year low of 6.1 percent.

While European markets are typically keen to tune into the release of Euro-zone retail sales, this Wednesday presents unique conditions for forex traders.

Terri Belkas takes a look at what central banks are saying about rates this week.

Australia faces a double dose of data ahead of the Reserve Bank of Australia's monetary policy meeting on Tuesday, and any major deviations from expectations could send the country's asset markets reeling.

Next week, the US economic calendar will be exceptionally busy and US manufacturing ISM is the first of many key pieces of data due for release.

Economic news out of Japan has been dour over the past 24 hours. What will the Japanese inflation data bring?

Terri Belkas previews the upcoming Fed rate decision and the GDP economic annoucement.

After rising for three consecutive months in April, orders for durable goods are anticipated to plunge -1.0 percent during the month of May. The decline is likely to be led by goods such as aircraft as the durable goods excluding transportation figure is predicted to edge mildly higher after surging in April.

Looking ahead, Thursday’s FOMC policy announcement will provide major event risk for bond markets – especially in the US.