It’s an eventful week ahead for the global markets. Let’s explore the major news that awaits the US, Canada, Switzerland, the UK, and Europe.
The U.S
The Fed Chairman Powell is scheduled to testify twice this week, with the first session taking place on Wednesday, June 21, at 6:00 PM, GMT+4 and the second session on Thursday, June 22, at 6:00 PM, GMT+4. These testimonies will provide insights into the Fed’s upcoming interest rate decision in July.
Unemployment Claims in the U.S. is set to be released by the Department of Labor on Thursday, June 22 at 4:30 PM GMT+4. The market forecasts a decline, signaling a positive economic indicator.
The National Association of Realtors has scheduled the release of Existing Home Sales in the U.S. on Thursday, June 22 at 6:00 PM, GMT+4. Market expectations suggest it will to fall, indicating a slowdown in the economy.
Both Flash Manufacturing PMI and Flash Services PMI in the U.S. are scheduled to be released by S&P Global on Friday, June 23 at 5:45 PM, GMT+4. The Flash Manufacturing PMI is anticipated to witness an increase, indicating a rise in production levels and resulting in growth in the manufacturing sector. Meanwhile, Flash Services PMI is expected to decline indicating a reduction in services activity.
Canada
Canada Retail Sales m/m are expected on Wednesday at 4:30 PM, GMT+4. The market anticipates an increase in consumer spending which may potentially lead to increased production and job creation.
Switzerland
The Swiss National Bank is scheduled to release its Policy rate on Thursday at 11:30 AM, GMT+4. The market expects an increase of 25 basis points.
The UK
The UK’s Consumer Price Index (CPI) y/y is scheduled to be released by the Office for National Statistics on Wednesday at 10:00 AM, GMT+4 (Dubai Time). The market expects a decrease indicating a decline in the prices of goods and services.
The Bank of England is scheduled to release its Official Bank Rate on Thursday at 3:00 PM, GMT+4 (Dubai Time). The market anticipates a 25-basis point increase, indicating sticky inflation.
Europe
Both Flash Manufacturing PMI and Flash Services PMI in Europe are scheduled to be released by S&P Global on Friday, June 23 at 5:45 PM, GMT+4 (Dubai Time). Flash Manufacturing PMI is forecasted to rise, indicating an increase in production levels and growth in the manufacturing sector. However, Flash Services PMI is anticipated to decline, indicating a drop-in service activity.
Importance
These releases have a big impact on the market as they shape and influence economic outlooks, making them closely watched by investors globally.
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