A week full of important events is coming. Investors will be most interested in the Fed interest rate meeting, expecting a 0.5% rate hike. Also, this week there will be meetings of the Bank of England and the Central Banks of Switzerland and Japan. The Bank of England is expected to raise rates for the fifth time in a row amid a growing cost of living crisis. Traders' attention should also be focused on speeches by heads of central banks who often tell which sentiments prevail inside. Special attention should also be paid to the inflation data in Europe, which will be published at the end of the week.
Monday, June 13
On Monday, investors should be attentive to the economic data from Great Britain. This week, the Bank of England will hold a meeting on monetary policy. Poor GDP and Industrial production data may encourage central bankers to be more aggressive. It's a bank holiday in Australia.
Main events of the day:
- – UK GDP (q/q) at 09:00 (GMT+3);
- - UK Industrial Production (m/m) at 09:00 (GMT+3);
- - US FOMC Member Brainard Speaks at 21:00 (GMT+3).
Tuesday, June 14
On Tuesday, traders will mainly focus on the EU reports from the ZEW Economic Institute. The ZEW Indicator is now at its lowest value, and economists believe it will fall even lower. Traders should also be focused on the labor market data in Great Britain and on the level of inflation between producers in the United States.
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);
- – Eurozone 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 Producer Price Index (m/m) at 15:30 (GMT+3).
Wednesday, June 15
On Wednesday, all investors' attention will be focused on the Fed's monetary policy meeting. Market watchers will be closely watching Powell's press conference after the policy meeting, the Fed's updated economic forecasts, and its "dot plot" showing the expected interest rate outlook. The Fed will almost certainly raise interest rates another 50 basis points. Investors should also keep a close eye on Eurozone ECB President Lagarde's Speech and the US Crude Oil Reserves, which significantly impact oil prices.
Main events of the day:
- – 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);
- – Eurozone French Consumer Price Index (m/m) at 09:45 (GMT+3);
- – Eurozone Industrial Production (m/m) at 12:00 (GMT+3);
- – US Retail Sales (m/m) at 15:30 (GMT+3);
- – US Empire State Manufacturing Index (m/m) at 15:30 (GMT+3);
- – US Crude Oil Reserves (w/w) at 17:30 (GMT+3);
- – Eurozone ECB President Lagarde Speaks at 19:20 (GMT+3);
- – US Fed Interest Rate Decision at 21:00 (GMT+3);
- – US FOMC Monetary Policy Statement at 21:00 (GMT+3);
- – US FOMC Economic Projection at 21:00 (GMT+3);
- – US FOMC Press Conference at 21:30 (GMT+3).
Thursday, June 16
On Thursday, there will be two Central Bank meetings - the Bank of England and Switzerland National Bank. The Bank of England is expected to raise rates by 25 basis points for the fifth consecutive time. At the same time, no changes are expected from the Swiss Bank. But with Swiss inflation hitting the highest in 14 years in May and the prospect of the European Central Bank hiking rates in July, a shift towards rate hikes may finally come about.
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);
- – Switzerland SNB Interest Rate Decision at 10:30 (GMT+3);
- – Switzerland SNB Monetary Policy Statement at 10:30 (GMT+3);
- – Eurozone Italian Consumer Price Index (m/m) at 11:00 (GMT+3);
- – Switzerland SNB Press Conference at 11:30 (GMT+3);
- – UK BoE Interest Rate Decision at 14:00 (GMT+3);
- – UK BoE Monetary Policy Statement at 14:00 (GMT+3);
- – US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
- – US Building Permits (m/m) at 15:30 (GMT+3);
- – US Philadelphia Fed Manufacturing Index (m/m) at 15:30 (GMT+3);
- – US Natural Gas Storage (w/w) at 17:30 (GMT+3).
Friday, June 17
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. Still, the pressure to change course is growing as rising yield differentials push the yen to multi-year lows, adding to inflationary pressures. It is also important for investors to analyze the CPI data in the Eurozone. Rising inflation in Europe may encourage ECB policymakers to raise rates more aggressively.
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);
- – Eurozone Consumer Price Index (m/m) at 10:30 (GMT+3);
- – US Fed Chair Powell Speaks at 15:45 (GMT+3);
- – US Industrial Production (m/m) at 16:15 (GMT+3).
by , 2022.06.13
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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