Week's main events (June 12 – June 16)

This is a week full of important economic events. The US Federal Reserve will hold a crucial monetary policy meeting, where policymakers may announce a pause. Also, this week there will be meetings of the ECB and the Bank of Japan (BoJ). The day before the FOMC meeting, inflation data will be released in the US, which could significantly change the market balance. On Thursday, China will release a lot of important statistical information that will have an impact on Asian indices. On Friday, inflation data will be released in Europe. Also on the investor list should be GDP data for the United Kingdom and New Zealand, as well as labor market data for the United Kingdom and Australia.

Monday, June 12
Monday will be a relatively calm and non-volatile day. No significant news is expected in the European and American sessions. It’s a bank holiday in Australia.
Main events of the day:
  • – Japan Producer Price Index (m/m) at 02:50 (GMT+3).

  • Tuesday, June 13
    On Tuesday, traders will focus on US inflation data. Inflationary pressures are expected to decline, which will increase the likelihood of the US Federal Reserve pausing on Wednesday. Traders should also be focused on the labor market data in Great Britain and on the level of inflation in Germany.
    Main events of the day:
    • – Australia NAB Business Confidence at 04:30 (GMT+3);
    • – UK Average Earnings Index (m/m) at 09:00 (GMT+3);
    • – UK Claimant Count Change (m/m) at 09:00 (GMT+3);
    • – UK Unemployment Rate (m/m) at 09:00 (GMT+3);
    • – German Consumer Price Index (m/m) at 09:00 (GMT+3);
    • – Eurozone German ZEW Economic Sentiment (m/m) at 12:00 (GMT+3);
    • – Eurozone ZEW Economic Sentiment (m/m) at 12:00 (GMT+3);
    • – US Consumer Price Index (m/m) at 15:30 (GMT+3);
    • – UK BOE Gov Bailey Speaks at 17:00 (GMT+3).
    Wednesday, June 14
    On Wednesday, all investors' attention will be focused on the Fed's monetary policy meeting. The Fed is inclined to keep interest rates unchanged. Market watchers will be closely watching Powell's press conference after the policy meeting, as well as the Fed's updated economic forecasts. Volatility on U.S. dollar currency pairs, US indices and gold will rise. Investors should also keep a close eye on factory inflation data (PPI) in the US, as well as the UK GDP data.
    Main events of the day:
    • – UK GDP (q/q) at 09:00 (GMT+3);
    • – UK Industrial Production (m/m) at 09:00 (GMT+3);
    • – UK Trade Balance (m/m) at 09:00 (GMT+3);
    • – US Producer Price Index (m/m) at 15:30 (GMT+3);
    • – US Crude Oil Inventories (w/w) at 17:30 (GMT+3);
    • – US Fed Interest Rate Decision at 21:00 (GMT+3);
    • – US FOMC Economic Projections at 21:00 (GMT+3);
    • – US FOMC Monetary Policy Statement at 21:00 (GMT+3);
    • – US FOMC Press Conference at 21:30 (GMT+3).
    Thursday, June 15
    Thursday will start with important GDP data for New Zealand, which is published once a quarter. GDP is expected to show a contraction, which will be the second negative quarter and point to a technical recession. China's data will be scrutinized for a rebound in the world's largest economy. Volatility in Asian markets will be elevated. Investors should also not miss the ECB's monetary policy meeting where interest rates are expected to rise further.
    Main events of the day:
    • – New Zealand GDP (q/q) at 01:45 (GMT+3);
    • – Australia Unemployment Rate (m/m) at 04:30 (GMT+3);
    • – China Industrial Production (m/m) at 05:00 (GMT+3);
    • – China Unemployment Rate (m/m) at 05:00 (GMT+3);
    • – China Retail Sales (m/m) at 05:00 (GMT+3);
    • – Switzerland Producer Price Index (m/m) at 09:30 (GMT+3);
    • – Eurozone Trade Balance (m/m) at 12:00 (GMT+3);
    • – Eurozone ECB Interest Rate Decision at 15:15 (GMT+3);
    • – Eurozone ECB Interest Monetary Policy Statement at 15:15 (GMT+3);
    • – US Retail Sales (m/m) at 15:30 (GMT+3);
    • – US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
    • – US Empire State Manufacturing Index (m/m) at 15:30 (GMT+3);
    • – Eurozone ECB Press Conference at 15:45 (GMT+3);
    • – US Industrial Production (m/m) at 16:15 (GMT+3);
    • – US Natural Gas Storage (w/w) at 17:30 (GMT+3).
    Friday, June 16
    The main event to watch on Friday is the Japan central bank meeting. The Bank of Japan is expected to stick to its ultra-soft monetary policy, but the pressure to change course is growing as rising yield differentials push the yen to multi-year lows. It is also important for investors to analyze the CPI data in the Eurozone. The main focus will be on core inflation, which excludes food and energy prices. A sharp decline in inflation may revise the ECB to stop the growth of interest rates earlier than planned.
    Main events of the day:
    • – Japan BoJ Interest Rate Decision at 06:00 (GMT+3);
    • – Japan BoJ Monetary Policy Statement at 06:00 (GMT+3);
    • – UK Retail Sales (m/m) at 09:00 (GMT+3);
    • – Japan BoJ Press Conference at 09:30 (GMT+3);
    • – Eurozone Consumer Price Index (m/m) at 12:00 (GMT+3);
    • – US FOMC Waller Speaks at 14:45 (GMT+3);
    • – US Michigan Consumer Sentiment (m/m) at 17:00 (GMT+3).

    by JustMarkets, 2023.06.12

    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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