This week, investors should focus on UK, Japan, Singapore, and Hong Kong inflation data. Analysts expect inflationary pressures to decrease in all cases. Also, this week there will be meetings of the central banks of England, Switzerland, China, and Norway. The Bank of England, Swiss National Bank, and Norges Bank are expected to raise interest rates, while the People's Bank of China may cut rates. The speeches of the head of the US Federal Reserve to Congress, as well as 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.
Monday, June 19
Monday will not be full of important events. But Canada's factory inflation data could be interesting in terms of assessing the overall inflationary pressures on the economy.
Main events of the day:
- – Hong Kong Unemployment Rate (m/m) at 11:30 (GMT+3);
- – Canada Producer Price Index (m/m) at 15:30 (GMT+3).
- – China PBoC Loan Prime Rate (m/m) at 04:15 (GMT+3);
- – Australia RBA Meeting Minutes (m/m) at 04:30 (GMT+3);
- – Japan Industrial Production (m/m) at 07:30 (GMT+3);
- – German Producer Price Index (m/m) at 09:00 (GMT+3);
- – Hong Kong Inflation Rate (m/m) at 11:30 (GMT+3);
- – US FOMC Bullard Speaks at 13:30 (GMT+3);
- – US Building Permits (m/m) at 15:30 (GMT+3);
- – US FOMC Williams Speaks at 18:45 (GMT+3).
- – Japan BoJ Monetary Policy Meeting Minutes (m/m) at 02:50 (GMT+3);
- – UK Consumer Price Index (m/m) at 09:00 (GMT+3);
- – UK Producer Price Index (m/m) at 09:00 (GMT+3);
- – Canada Retail Sales (m/m) at 15:30 (GMT+3);
- – US Fed Chair Powell Testifies at 17:00 (GMT+3);
- – US FOMC Mester Speaks at 23:00 (GMT+3).
- – New Zealand Trade Balance (m/m) at 01:45 (GMT+3);
- – Switzerland SNB Interest Rate Decision at 10:30 (GMT+3);
- – Switzerland SNB Monetary Policy Assessment at 10:30 (GMT+3);
- – Switzerland SNB Press Conference at 11:00 (GMT+3);
- – US FOMC Waller Speaks at 11:00 (GMT+3);
- – Norway NB Interest Rate Decision at 11:00 (GMT+3);
- – UK BoE Interest Rate Decision at 14:00 (GMT+3);
- – UK BoE MPC Meeting Minutes at 14:30 (GMT+3);
- – US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
- – US FOMC Bowman Speaks at 16:55 (GMT+3);
- – US Existing Home Sales (m/m) at 15:30 (GMT+3);
- – US Fed Chair Powell Testifies at 17:00 (GMT+3);
- – US FOMC Mester Speaks at 17:00 (GMT+3);
- – US Natural Gas Storage (w/w) at 17:30 (GMT+3);
- – US Crude Oil Reserves (w/w) at 18:00 (GMT+3).
- – Australia Manufacturing PMI (m/m) at 02:00 (GMT+3);
- – Australia Services PMI (m/m) at 02:00 (GMT+3);
- – Japan National Core Consumer Price Index at 02:30 (GMT+3);
- – Japan Manufacturing PMI (m/m) at 03:30 (GMT+3);
- – Singapore Consumer Price Index (m/m) at 08:00 (GMT+3);
- – UK Retail Sales (m/m) at 09:00 (GMT+3);
- – Eurozone German Manufacturing PMI (m/m) at 10:30 (GMT+3);
- – Eurozone German Services PMI (m/m) at 10:30 (GMT+3);
- – Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+3);
- – Eurozone Services PMI (m/m) at 11:00 (GMT+3);
- – UK Manufacturing PMI (m/m) at 11:30 (GMT+3);
- – UK Services PMI (m/m) at 11:30 (GMT+3);
- – US FOMC Bullard Speaks at 12:15 (GMT+3);
- – US FOMC Bostic Speaks at 15:00 (GMT+3);
- – US Manufacturing PMI (m/m) at 16:45 (GMT+3);
- – US Services PMI (m/m) at 16:45 (GMT+3).
Tuesday, June 20
The Reserve Bank of Australia will update its monetary policy statement on Tuesday. There may be hints of monetary policy tightening in this report, so it is essential to watch for changes. Traders should also pay attention to the inflation rate, as well as interest rate decisions from the Central Bank of China. And the PBoC can cut the rate to support the economy.
Main events of the day:
Wednesday, June 21
Wednesday's main event will be the inflation data in the United Kingdom. Analysts expect inflationary pressures to decrease both CPI and PPI. Also, traders should not miss Jerome Powell's speech to Congress on further plans to tighten monetary policy.
Main events of the day:
Thursday, June 22
On Thursday, there will be three central bank monetary policy meetings – the Bank of England (BoE), Swiss National Bank (SNB), and Norges Bank (NB). A 0.25% rate hike is expected in all three. Also, Thursday is the second day of Jerome Powell's congressional hearing. It's a bank holiday in China and Hong Kong.
Main events of the day:
Friday, June 23
Friday's most important release for investors will be Japan's inflation rate data. Consumer inflation is expected to decline, but there may be surprises. 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 – if the PMI falls below 50, it is a sign that the sector is slowing down. If it is above 50, it indicates that the sector is in good shape.
It's a bank holiday in China and Hong Kong.
Main events of the day:
by , 2023.06.19
We advise you to get acquainted with the daily forecasts for the major currency pairs.This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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