From interest rate decisions to growth in services; to China’s trade data, and Apple’s big developers conference, I’m Jeff Kleintop with 90 seconds of what you need to know for the week ahead:

Central banks in Australia, Canada, India, and Poland meet with no change in rates expected but it could be a skip rather than a pause. The markets placed low odds on a Fed rate hike in June, but an over 80% chance by July. It’s still a tale of two economies, with manufacturing remaining in recession territory as indicated by last Thursday’s May manufacturing PMI, while May’s Services PMI is due Monday and it’s expected to continue to show steady growth with headwinds from rate hikes yet to fully hit home.

The latest beige book in the U.S., covering conditions in April and early May, noted consumer spending was steady or higher in most districts with demand for services like leisure and hospitality still rising.

China’s PMI figures indicate the new Covid-19 wave not having a major impact, but investors are on the watch for additional stimulus to help boost growth in China in the second half of the year. China’s May trade data due Tuesday are likely to show export growth stalling again, reflecting weaker foreign demand. Chinese post-Covid recovery is already losing some steam and weaker exports will further sap that momentum, adding to the case for government stimulus.

Apple’s worldwide developers conference takes place this week amid the market’s recent obsession with everything AI. The tech giant’s long-awaited mixed reality headset is expected to be a feature as tech investors seek the next big thing.