This will be critical week for the world markets, with US authorities set to release a slew of key data on the state of the country's economy.
Analysts expect the signs to be mixed but a consensus is emerging that the pace of inflation is creeping up and the US Federal Reserve will probably raise interest rates for the second time this year when its policy-makers meet on May 20.
Recent statements from influential Fed members reinforce this view.
Goldman Sach senior US economist Edward McKelvey said: 'The chances are quite high, based on what we know now, that rates will be raised.' The statistical highlights come tomorrow and Friday, with publication of the employment cost index and job-creation figures for last month.
As labour costs account for about two-thirds of US consumer prices, the number of people employed together with the rate at which they are being rewarded give a critical snapshot.
On Wednesday, the Commerce Department unveils the preliminary estimate of first-quarter economic growth.
