Interesting week ahead: US interest rates could rise, Trump and Kim Jong-un to meet, Bilderberg Group meeting

Investors will be on tenterhooks this week with plenty of market moving action including the G7 Summit in Canada this weekend.

Then there is next week’s meeting between President Trump and Kim Jong-un in Singapore and perhaps most importantly, the US Federal Reserve monetary policy meeting which starts on Tuesday and could lead to higher official interest rates.

Here in Australia, the Queen’s Birthday public holiday on Monday will give us one less trading day to react to what promises to be a news packed week offshore.

Over in Turin, Italy over 130 of some of the most powerful heads of corporations, finance groups and politics are gathering behind closed doors at the annual Bilderberg Group meeting to discuss are a range of global topics.

The week ahead

Following the Queen’s Birthday public holiday on Monday, there is no shortage of really top tier economic data releases during the week.

Locally there is the all-important May employment report on Thursday, along with a raft of other data including monthly business and consumer surveys and housing and lending finance data.

The embattled AMP will be worth keeping an eye on given that it will be ejected from the ASX 20 after losing 30 per cent of its value in the past few months as no less than four investor class actions arrived along with revelation in the banking and financial services Royal Commission that it lied to the regulator and charged customers for non-existent financial advice.

AMP will be replaced in the index packaging giant Amcor.