Week's main events (June 27 – July 1)

There will be several important events in the coming week. The main event will be the data on the inflation rate in Europe. The ECB is planning its first rate hike in a long time at its July meeting, but a sharp rise in inflation may encourage policymakers to go for a more aggressive step. On Monday, starts a three-day forum with the main topic "Challenges for monetary policy in a rapidly changing world." The forum will conclude with speeches by the heads of the Fed, the ECB, and the Bank of England on Wednesday, so investors should keep a close eye on that. Also, this week, the US and Canadian GDP data will be released. Of course, investors should not miss the meeting of OPEC+ countries, which can have a significant impact on oil prices.

Monday, June 27
On Monday, investors will focus on retail sales data from Germany as well as Durable Goods Orders in the United States. Economists expect US Durable Goods Orders to fall, adding concerns about the economic outlook.
Main events of the day:
  • – German Retail Sales (m/m) at 09:00 (GMT+3);
  • - US Durable Goods Orders (m/m) at 15:30 (GMT+3);
  • - US Pending Home Sales (m/m) at 17:00 (GMT+3);
  • - Eurozone ECB President Lagarde Speaks at 20:30 (GMT+3).
Tuesday, June 28
The most interesting Tuesday release is CB Consumer Confidence. Also, the market participants will follow the speech of central bank officials.
Main events of the day:
  • – US FOMC Member Williams Speaks (m/m) at 01:30 (GMT+3);
  • – ECB President Lagarde Speaks at 11:00 (GMT+3);
  • – US CB Consumer Confidence (m/m) at 17:00 (GMT+3).
Wednesday, June 29
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 of Wednesday. Investors should also pay attention to the US GDP data, which will indicate how fast the US economy is slowing down. It’s a bank holiday in Italy.
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);
  • – Eurozone Spanish Consumer Price Index (m/m) at 10:00 (GMT+3);
  • – US FOMC Member Mester Speaks (m/m) at 13:30 (GMT+3);
  • – Eurozone German Consumer Price Index (m/m) at 15:00 (GMT+3);
  • – US GDP (q/q) at 15:30 (GMT+3);
  • – US Fed Chair Powell Speaks (m/m) at 16:30 (GMT+3);
  • – Eurozone ECB President Lagarde Speaks (m/m) at 16:30 (GMT+3);
  • – UK BoE Gov Bailey Speaks (m/m) at 16:30 (GMT+3);
  • – US Crude Oil Reserves (w/w) at 17:30 (GMT+3);
  • – US FOMC Bullard Speaks (m/m) at 20:05 (GMT+3).
Thursday, June 30
On Thursday, investors will closely watch May’s Personal Consumption Price Index data to see if inflation is slowing. The US Fed relies more on PCE data than the Consumer Price Index. There is also an OPEC+ meeting on Thursday. The oil market is highly uncertain right now, so surprises are possible.
Main events of the day:
  • – Japan Industrial Production (m/m) at 02:50 (GMT+3);
  • – China Manufacturing PMI (m/m) at 04:30 (GMT+3);
  • – China Non-Manufacturing PMI (m/m) at 04:30 (GMT+3);
  • – UK GDP (q/q) at 09:00 (GMT+3);
  • – Eurozone German Retail Sales (m/m) at 09:00 (GMT+3);
  • – Switzerland Retail Sales (m/m) at 09:30 (GMT+3);
  • – Eurozone French Consumer Price Index (m/m) at 09:45 (GMT+3);
  • – Eurozone German Unemployment Rate (m/m) at 10:55 (GMT+3);
  • – Eurozone Unemployment Rate (m/m) at 12:00 (GMT+3);
  • – OPEC+ meeting (m/m) at 12:00 (GMT+3);
  • – US PCE Price index (m/m) at 15:30 (GMT+3);
  • – Canada GDP (m/m) at 15:30 (GMT+3);
  • – US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
  • – US Natural Gas Storage (w/w) at 17:30 (GMT+3).
Friday, July 01
Friday will bring various statistics for many countries. The most important Friday release is the monthly inflation rate in the Eurozone. Analysts believe the Consumer Price Index will hit a new record high of 8.3% year-on-year as energy and food prices continue to rise. Investors should also closely monitor Manufacturing PMI data from different countries. Positive numbers can give hope to pessimistic financial markets. It's a bank holiday in Hong Kong and Canada.
Main events of the day:
  • – Japan Tokyo Core CPI (m/m) at 02:30 (GMT+3);
  • – Japan Large Manufacturers Index (m/m) at 02:50 (GMT+3);
  • – Japan Large Non-Manufacturers Index (m/m) at 02:50 (GMT+3);
  • – Japan Manufacturing PMI (m/m) at 03:30 (GMT+3);
  • – China Caixin Manufacturing PMI (m/m) at 04:45 (GMT+3);
  • – Eurozone Spanish Manufacturing PMI (m/m) at 10:15 (GMT+3);
  • – Switzerland Manufacturing PMI (m/m) at 10:35 (GMT+3);
  • – Eurozone Italian Manufacturing PMI (m/m) at 10:45 (GMT+3);
  • – Eurozone French Manufacturing PMI (m/m) at 10:50 (GMT+3);
  • – Eurozone German Manufacturing PMI (m/m) at 10:55 (GMT+3);
  • – Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+3);
  • – UK Manufacturing PMI (m/m) at 11:30 (GMT+3);
  • – Eurozone Italian Consumer Price Index (m/m) at 12:00 (GMT+3);
  • – Eurozone Consumer Price Index (m/m) at 12:00 (GMT+3);
  • – US ISM Manufacturing PMI (m/m) at 17:00 (GMT+3).

by JustMarkets, 2022.06.27

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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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