Economic Calendar Updates
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Key Takeaways
- Lightweight agenda to narrate the weekly scheduled economic events
- ECB interest rate decision followed by a press conference will be a key event for investors
The week starting Monday, June 7, carries a relatively lightweight set of scheduled economic events. The financial markets in the forthcoming week will be subjected to fewer major reports than last week, which would give investors more time to look back and reassess the current market environment and the prospects for further economic development around the global markets.
On Monday, Japan will kick off the major economic data with the reveal of its GDP figures for the first quarter on a quarterly basis. The release is set to arrive at 07:50 pm EST. Meanwhile, New Zealand will be taking a break from trading in observance of the Queen’s Birthday.
On Tuesday, Germany will publish its monthly ZEW Economic Sentiment for June at 05:00 am EST. Wednesday’s significant economic report will come from Canada at 10:00 am EST when the Bank of Canada is set to announce its interest rate decision. The Canadian central bank is expected to leave rates unchanged.
Anticipation for Thursday
Thursday brings the most important weekly data on both sides of the Atlantic. At 07:45 am EST, the European Central Bank will announce its interest rate decision for June. While investors do not expect a change in the interest rate, the more anticipated event will be the monetary policy meeting between ECB officials. After the Governing Council meeting, ECB President Christine Lagarde will hold a press conference where she will discuss how the ECB views the higher inflation data for May that surprised policymakers. Ms. Lagarde will also comment on whether the central bank will make any changes in its monetary approach to the European economy.
At 08:30 am EST, the US will publish core CPI data for May. Consumer prices in April spiked to 4.2%, surpassing the 2% target set by the Federal Reserve. The CPI figures will be closely monitored by market participants to see whether inflation has come down in May.
And on Friday, the UK will release its manufacturing production data for April. The report is scheduled to arrive at 02:00 am EST.
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