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Upon entering the port of Algeciras at Spain's southernmost tip, the facility's busyness is unmistakable. Nearly all cranes at the port’s two container terminals are in operation, moving containers on and off ships. Alonso Luque, CEO of TTI Algeciras, notes that they’ve had to turn away many requests for extra cargo due to limited capacity. Similarly, executives at TC3 in Morocco's Tanger Med port face comparable challenges.

Australian retail sales edged higher in April as consumers remained cautious in the face of high borrowing costs, rising rents, and other expenses, alongside confirmation that household consumption would not be adding to the first-quarter GDP growth data next week or the current second quarter.

According to Franklin Templeton Fixed Income CIO Sonal Desai rising investment and persistently loose US fiscal policy are simultaneously pushing in the direction of higher long-term real interest rates.

In China, especially in property, it's always been a case of who you know and whether there is powerful government or Communist Party influence.

The European Central Bank has given its strongest sign yet that it will cut interest rates next week. In an interview with the Financial Times, ECB chief economist Philip Lane said, “Barring major surprises, at this point in time, there is enough in what we see to remove the top level of restriction” in the rate structure.

How quickly that "property rescue" move from the Chinese government was forgotten—announced Friday, May 17, dead by Friday, May 24, if last week's falls on Chinese and Hong Kong stock markets are any guide.

The big deal this week might be US inflation data and economic growth at the end of the week. Before then, though, there’s the Wednesday evening deadline in London for BHP and Anglo America to do a deal.

Did we miss the copper party? Was gold’s surge last week just another dash in the pan? Was the Fed the catalyst for the sell off in metals – or did traders realise that the boomlet was built on clay and easily undermined by a US central bank that seems to be getting a little cranky about ’sticky inflation’?

A week for going nowhere—that was last week. This week, however, it's a week for being on tenterhooks until 8:30 a.m. Washington time, when the last inflation data release of the month is due.