The week ahead is full of upcoming news and events scheduled across the major markets, keeping investors on the edge of their seats.
Let’s explore the scheduled events and uncover what awaits investors in the upcoming days.
United States
All eyes are on the release of key economic figures such as the Consumer Price Index (CPI), Core CPI, Producer Price Index (PPI), the Federal Funds rate, and Retail Sales.
Inflation figures including CPI (YoY) and Core CPI (MoM) are scheduled for released on Tuesday 13th June at 16:30 GMT+4.
Market anticipate that CPI (YoY) will drop from a previously recorded 4.9% down to 4.1%. This would be inflation’s lowest level since May 2021, signifying a notable fall of US inflationary pressures.
Core CPI (MoM) which excludes food and energy prices, is anticipated to remain unchanged at 0.4%. This suggests that there is no further rise in prices and may potentially enhance consumers purchasing power.
PPI (MoM), another measure of inflation, will be released on Wednesday at 16:30 GMT+4. The market expects a drop in average prices paid by producers, resulting in lower prices for consumers.
The Federal Funds Rate will take center stage in the week ahead. Markets expect the Fed put its previous rate hikes on hold, marking a significant pause following 10 consecutive increases.
Retail Sales (MoM) is set to be released by the Census Bureau on Thursday at 16:30 GMT+4. The data is forecasted to drop, signaling a downward trend in consumer spending.
Europe
The European Central Bank (ECB) has a big decision on its shoulders as it prepares to announce the Main Refinancing Rate, scheduled for released on Thursday at 16:15, GMT+4. The market expects a further 25 bps hike from the ECB, reflecting an ongoing concern about controlling inflation in the eurozone.
United Kingdom
The Office for National Statistics in the UK is scheduled to announce the release dates for two significant indicators: The Unemployment Rate which is set to be released on June 13, 2023, at 10:00 AM, followed by GDP (MoM) figures on June 14, 2023 at 10:00 AM, respectively.
The market forecasts that the unemployment rate is increasing and that economic activity is slowing down in the U.K.
Japan
The Bank of Japan has maintained a long-standing policy of keeping its interest rates at a constant of -0.10%. The market anticipates that the BoJ will continue this tradition and keep rates unchanged at -0.10%, potentially depreciating the Japanese Yen compared to other currencies.
The upcoming rate decision on Friday raises the question of whether the BoJ will continue its previous stance and maintain its policy of ultra-low rates.
Importance
These releases carry significant influence over the market, as they shape expectations and influence economic outlooks, making them closely watched by investors globally.
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