Week’s main events (June 26 – June 30)

There will be several important events in the coming week. The main event will be the inflation data in Europe, Canada, and Australia. Inflationary pressures are expected to fall everywhere, but there may be surprises as the fall in global inflation slows. On Wednesday, there will be an ECB forum to which the heads of the central banks of the United States, Japan, and the UK are invited. Also, this week, the US and UK GDP data will be released. This data will show how the economy works in a period of high-interest rates. Investors will also get an update on the possible future trajectory of interest rates on Friday after the release of May data on the Personal Consumption Price Index, the Federal Reserve’s preferred measure of inflation.

Monday, June 26

On Monday, investors will focus on Germany’s Business Climate from Ifo. This data is based on approximately 9,000 monthly responses from businesses in manufacturing, the service sector, trade, and construction. Also, traders should not miss the speeches of the heads of Europe and Switzerland’s Central Bank’s heads.

Main events of the day:

– German Ifo Business Climate (m/m) at 11:00 (GMT+3);
– Switzerland SNB Chairman Thomas Jordan speaks at 11:50 (GMT+3);
– Eurozone ECB President Lagarde Speaks at 20:30 (GMT+3).

Tuesday, June 27

The most interesting Tuesday release is CB inflation data in Canada. Analysts expect inflationary pressures to continue to decline, but there may be surprises. Also, the market participants will follow US Durable Goods Orders that offer insights into the health of the US manufacturing sector and the overall economy.

Main events of the day:

– Canada Consumer Price Index (m/m) at 15:30 (GMT+3);
– US Building Permits (m/m) at 15:30 (GMT+3);
– US Durable Goods Orders (m/m) at 15:30 (GMT+3);
– US New Home Sales (m/m) at 17:00 (GMT+3);
– US CB Consumer Confidence (m/m) at 17:00 (GMT+3).

Wednesday, June 28

The speeches of the heads of the Fed, the ECB, and the Bank of England on the results of the monetary policy forum will be the main event on Wednesday. These speeches can give clues as to the next steps of the world’s central banks. Investors should also keep an eye on inflation data in Australia. Analysts expect CPI to fall, but there may be surprises like what happened last time.

Main events of the day:

– Australia Consumer Price Index (m/m) at 04:30 (GMT+3);
– UK BoE Gov Bailey Speaks at 16:30 (GMT+3);
– Japan BOJ Gov Ueda Speaks at 16:30 (GMT+3);
– Eurozone ECB President Lagarde Speaks at 16:30 (GMT+3);
– US Fed Chair Powell Speaks at 16:30 (GMT+3);
– US Crude Oil Reserves (w/w) at 17:30 (GMT+3).

Thursday, June 29

On Thursday, inflation data will be released in Germany. Consumer prices are predicted to rise. Investors should also pay attention to the US GDP data, which will show how the economy feels at a time of high-interest rates.

Main events of the day:

– Japan Retail Sales (m/m) at 02:50 (GMT+3);
– Australia Retail Sales (m/m) at 04:30 (GMT+3);
– US Fed Chair Powell Speaks (m/m) at 09:30 (GMT+3);
– German Consumer Price Index (m/m) at 15:00 (GMT+3);
– US GDP (q/q) at 15:30 (GMT+3);
– US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
– US Pending Home Sales (m/m) at 17:00 (GMT+3);
– US Natural Gas Storage (w/w) at 17:30 (GMT+3).

Friday, June 30

Friday will bring various statistics for many countries. The essential Friday release is the monthly inflation rate in the Eurozone. Analysts believe the consumer price index continues to decrease. Investors will also be closely watching May’s Personal Consumption Price Index data to see if inflation is slowing. The US Fed is relying more on PCE data than the Consumer Price Index. Investors should also keep a close eye on Manufacturing PMI data from different countries. Positive numbers can give hope to pessimistic financial markets.

Main events of the day:

– Japan Tokyo Core CPI (m/m) at 02:30 (GMT+3);
– Japan Unemployment Rate (m/m) at 02:30 (GMT+3);
– Japan Industrial Production (m/m) at 02:50 (GMT+3);
– Japan Manufacturing PMI (m/m) at 03:30 (GMT+3);
– China Manufacturing PMI (m/m) at 04:30 (GMT+3);
– UK GDP (q/q) at 09:00 (GMT+3);
– German Retail Sales (m/m) at 09:00 (GMT+3);
– Switzerland Retail Sales (m/m) at 09:30 (GMT+3);
– German Unemployment Rate (m/m) at 10:55 (GMT+3);
– Eurozone Consumer Price Index (m/m) at 12:00 (GMT+3);
– Eurozone Unemployment Rate (m/m) at 12:00 (GMT+3);
– US PCE Price index (m/m) at 15:30 (GMT+3);
– US Michigan Consumer Sentiment (m/m) at 17:00 (GMT+3);
– Canada BoC Business Outlook Survey at 17:30 (GMT+3).

by JustMarkets, 2023.06.26

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