Economic Calendar Updates
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Key Takeaways
- Lightweight agenda on the calendar this week
- ECB’s Lagarde and Fed’s Powell to comment on current economic developments
The week starting Monday, June 20, carries a relatively light set of scheduled economic updates from the world’s economies. Traders and investors could use the loosened agenda to take stock of the key event last week, the FOMC meeting that concluded the Fed will raise the interest rate in 2023.
To kick off the events in the upcoming trading week, European Central Bank president Christine Lagarde will speak on Monday at 10:15 am EST. Ms. Lagarde is expected to share insights on the economic recovery in the eurozone supported by the increasing vaccination rate and the ongoing reopening of Europe.
Jerome Powell Steps In the Spotlight Again
Tuesday brings a testimony by Federal Reserve Chairman Jerome Powell at 02:00 pm EST. Mr. Powell is expected to testify on the economic outlook and the recent monetary policy change that aims to lift the interest rate one year earlier than planned.
On Wednesday, Germany will announce its manufacturing PMI report for June at 03:30 am EST. The UK follows with its composite PMI and manufacturing PMI preliminary data at 04:30 am EST. Canada comes next with core retail sales for April, on a monthly basis. The report is scheduled to arrive at 08:30 am EST.
Thursday kicks off with the German Ifo business climate index set to land at 04:00 am EST. The Bank of England follows with the June interest rate decision at 07:00 am EST. The UK central bank is expected to leave the interest rate unchanged at 0.10%. At the same hour, the Bank of England meeting minutes will be released.
The US arrives next with core durable goods orders for May at 08:30 am EST. At the same time, the US Bureau of Economic Analysis will release the US GDP number expected to land at 6.4% for the first quarter. Also at 08:30 am EST, the US Labor Department will publish the latest initial jobless claims.
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