{"id":8754,"date":"2024-06-17T05:59:12","date_gmt":"2024-06-17T05:59:12","guid":{"rendered":"https:\/\/justmarkets.eu\/?p=8754"},"modified":"2024-06-17T05:59:13","modified_gmt":"2024-06-17T05:59:13","slug":"weekly-overview-2024-06-17","status":"publish","type":"post","link":"https:\/\/justmarkets.eu\/it\/analytics\/weekly-overview-2024-06-17\/","title":{"rendered":"Week&#8217;s main events (June 17 \u2013 June 21)"},"content":{"rendered":"\r\n<div class=\"ag-base_page ag-m-format-container\">\r\n<h1 class=\"ag-base_title-page\">Week&#8217;s main events (June 17 \u2013 June 21)<\/h1>\r\n<div class=\"ag-analytics-page ag-market-overview-page\">\r\n   <p class=\"ag-analytics_text\">\r\nThis week, investors will focus on inflation data from the UK, Eurozone and Japan, as well as the Bank of England&#160;(BoE), Swiss National Bank&#160;(SNB), Norges Bank(NB), Reserve Bank of Australia&#160;(RBA) and People&#8217;s Bank of China&#160;(PBoC) meetings. None of the banks are expected to change interest rates this week. A day before the Bank of England meeting, inflation data for May will be published in the UK. The consumer price index is expected to fall to the target level of&#160;2% for the first time in almost three years. In Japan, consumer inflation is forecast to rise, increasing the likelihood of a rate hike from the Bank of Japan&#160;(BoJ) at the next meeting. The speeches of the FOMC officials are also worth paying attention to. A hawkish bias by politicians could trigger a sell-off in stock indices and give a new boost to the US dollar.\r\n\r\n  <\/p>\r\n\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Monday, June&#160;17\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nMonday will be a relatively calm and non-volatile day. No significant news is expected in the European and American sessions. It&#8217;s a bank holiday in China, Hong Kong, and Australia.\r\n  <\/div>\r\n  \r\n  <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n<li>\u2013 China Industrial Production&#160;(m\/m) at&#160;05:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 China Retail Sales&#160;(m\/m) at&#160;05:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 China Unemployment Rate&#160;(m\/m) at&#160;05:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 US NY Empire State Manufacturing Index at&#160;15:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 US FOMC Harker Speaks at&#160;20:00&#160;(GMT+3).<\/li>\r\n  <\/ul>\r\n\r\n  \r\n  <div class=\"ag-analytics_title\">\r\n    Tuesday, June&#160;18\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nThe Reserve Bank of Australia will meet on Tuesday. The RBA is expected to leave the rate unchanged. Stagnant inflation has so far prevented the RBA from starting a rate-cut cycle. The RBA could continue the tightening cycle if not for weak GDP growth. Also, traders should pay attention to the Eurozone inflation data. No changes are expected, but any surprise in the direction of consumer price growth may cause the euro to rise against the background that the ECB will return to keeping rates. Investors will also be closely watching retail sales data for May. Economists expect retail sales to have increased by&#160;0.3%. Consumer spending is the focus of Wall Street&#8217;s attention as investors try to gauge the impact of higher interest rates on the economy.\r\n  <\/div>\r\n\r\n   <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n<li>\u2013 Australia RBA Interest Rate Decision at&#160;07:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Australia RBA Rate Statement at&#160;07:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Australia RBA Press Conference at&#160;08:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 German ZEW Economic Sentiment&#160;(m\/m) at&#160;12:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Eurozone ZEW Economic Sentiment&#160;(m\/m) at&#160;12:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Eurozone Consumer Price Index&#160;(m\/m) at&#160;12:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Retail Sales&#160;(m\/m) at&#160;15:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Industrial Production&#160;(m\/m) at&#160;16:15&#160;(GMT+3).<\/li>\r\n  <\/ul>\r\n\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Wednesday, June&#160;19\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nWednesday&#8217;s main event will be the inflation data in the United Kingdom. Analysts expect inflationary pressures to decrease both CPI and PPI. This could sharply increase the probability of a rate cut in August from the Bank of England, which is negative for the British currency, but positive for the UK index. It\u2019s a bank holiday in the United States.\r\n  <\/div>\r\n\r\n <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n<li>\u2013 Japan BoJ Monetary Policy Meeting Minutes&#160;(m\/m) at&#160;02:50&#160;(GMT+3);<\/li>\r\n<li>\u2013 Japan Trade Balance&#160;(m\/m) at&#160;02:50&#160;(GMT+3);<\/li>\r\n<li>\u2013 UK Consumer Price Index&#160;(m\/m) at&#160;09:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 UK Producer Price Index&#160;(m\/m) at&#160;09:00&#160;(GMT+3).<\/li>\r\n  <\/ul>\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Thursday, June&#160;20\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nOn Thursday, there will be&#160;4 central bank monetary policy meetings \u2013 the Bank of England&#160;(BoE), Swiss National Bank&#160;(SNB), Norges Bank&#160;(NB) and People Bank of China&#160;(PBoC). All rates and policy settings are projected to remain unchanged at all the mentioned banks. But traders can expect a spike in volatility. Due to Wednesday&#8217;s holiday, the crude oil inventories report will be released on Thursday. Brent crude and the US benchmark WTI rose nearly&#160;4% last week. A supply shortage with high demand is forecast to support oil prices until early winter. The New Zealand GDP report, published once a quarter, will also be important. It is expected to grow by a modest&#160;0.1%, but if the data is worse than expected, the NZD will be under pressure.\r\n\r\n  <\/div>\r\n\r\n <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n<li>\u2013 New Zealand QDP&#160;(q\/q) at&#160;01:45&#160;(GMT+3);<\/li>\r\n<li>\u2013 China PBoC Loan Prime Rate&#160;(m\/m) at&#160;04:15&#160;(GMT+3);<\/li>\r\n<li>\u2013 German Producer Price Index&#160;(m\/m) at&#160;09:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Switzerland Trade Balance&#160;(m\/m) at&#160;09:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Switzerland SNB Interest Rate Decision at&#160;10:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Switzerland SNB Monetary Policy Assessment at&#160;10:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Switzerland SNB Press Conference at&#160;11:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Norway NB Interest Rate Decision at&#160;11:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 UK BoE Interest Rate Decision at&#160;14:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 UK BoE MPC Meeting Minutes at&#160;14:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Initial Jobless Claims&#160;(w\/w) at&#160;15:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Philadelphia Fed Manufacturing Index&#160;(m\/m) at&#160;15:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Crude Oil Reserves&#160;(w\/w) at&#160;18:00&#160;(GMT+3).<\/li>\r\n  <\/ul>\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Friday, June&#160;21\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nFriday&#8217;s most important release for investors will be Japan&#8217;s inflation rate data. Consumer prices are expected to increase from&#160;2.2% to&#160;2.6% year-on-year. Rising inflation will increase the probability of another rate hike from the Bank of Japan&#160;(BoJ), which finally exited negative interest rate territory this year. For the Yen, this will be a factor for appreciation. Also, on Friday, there will be a lot of different statistics on the manufacturing and service PMI for different countries. Evaluating these indicators is very simple \u2013 if the PMI falls below&#160;50, it is a sign that the sector is slowing down. If it is above&#160;50, it indicates that the sector is in good shape. \r\n\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n<li>It\u2019s a bank holiday in China and Hong Kong.<\/li>\r\n<li>\u2013 Australia Manufacturing PMI&#160;(m\/m) at&#160;02:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Australia Services PMI&#160;(m\/m) at&#160;02:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Japan National Core Consumer Price Index at&#160;02:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Japan Manufacturing PMI&#160;(m\/m) at&#160;03:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Japan Services PMI&#160;(m\/m) at&#160;03:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 UK Retail Sales&#160;(m\/m) at&#160;09:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 German Manufacturing PMI&#160;(m\/m) at&#160;10:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 German Services PMI&#160;(m\/m) at&#160;10:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Eurozone Manufacturing PMI&#160;(m\/m) at&#160;11:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Eurozone Services PMI&#160;(m\/m) at&#160;11:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 UK Manufacturing PMI&#160;(m\/m) at&#160;11:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 UK Services PMI&#160;(m\/m) at&#160;11:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Canada Retail Sales&#160;(m\/m) at&#160;15:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Manufacturing PMI&#160;(m\/m) at&#160;16:45&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Services PMI&#160;(m\/m) at&#160;16:45&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Existing Home Sales&#160;(m\/m) at&#160;17:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Natural Gas Storage&#160;(w\/w) at&#160;17:30&#160;(GMT+3).<\/li>\r\n<li>\u2013 German Producer Price Index&#160;(m\/m) at&#160;09:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Hong Kong Inflation Rate&#160;(m\/m) at&#160;11:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 US FOMC Bullard Speaks at&#160;13:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Building Permits&#160;(m\/m) at&#160;15:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 US FOMC Williams Speaks at&#160;18:45&#160;(GMT+3).<\/li>\r\n<li>\u2013 Singapore Consumer Price Index&#160;(m\/m) at&#160;08:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Hong Kong Unemployment Rate&#160;(m\/m) at&#160;11:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Canada Producer Price Index&#160;(m\/m) at&#160;15:30&#160;(GMT+3).<\/li>\r\n<li>\u2013 US FOMC Bowman Speaks at&#160;16:55&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Fed Chair Powell Testifies at&#160;17:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 US FOMC Mester Speaks at&#160;17:00&#160;(GMT+3);<\/li>\r\n  <\/ul>\r\n\r\n\r\n\r\n\r\n\r\n\r\n<p class=\"ag-analytics_text\">by <span class=\"author vcard\"><span class=\"fn\">JustMarkets<\/span><\/span>, <span class=\"updated\">2024.06.17<\/span><\/p>\r\n<!--a href=\"\/analytics\/daily-forecast\" class=\"ag-analytics_link\">\r\n          We advise you to get acquainted with the daily forecasts for the major currency pairs.\r\n        <\/a--> <a class=\"ag-base-btn\" href=\"https:\/\/secure.justmarkets.eu\/it\/register\/?sl=1\">Open Account<\/a><\/div>\r\n<\/div>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Week&#8217;s main events (June 17 \u2013 June 21) This week, investors will focus on inflation data from the UK, Eurozone and Japan, as well as the Bank of England&#160;(BoE), Swiss National Bank&#160;(SNB), Norges Bank(NB), Reserve Bank of Australia&#160;(RBA) and People&#8217;s Bank of China&#160;(PBoC) meetings. None of the banks are expected &#8230;<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[187,329],"tags":[],"class_list":["post-8754","post","type-post","status-publish","format-standard","hentry","category-analytics","category-market-overview"],"featured_image_src":"","blog_images":{"medium":"","large":""},"acf":[],"aioseo_notices":[],"ams_acf":[{"key":"icon","label":"Icon","value":false}],"_links":{"self":[{"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/posts\/8754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/comments?post=8754"}],"version-history":[{"count":1,"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/posts\/8754\/revisions"}],"predecessor-version":[{"id":8761,"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/posts\/8754\/revisions\/8761"}],"wp:attachment":[{"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/media?parent=8754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/categories?post=8754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/tags?post=8754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}