This week is shaping up to be a busy one for global financial markets, with several high-impact economic reports and central bank speeches on deck. Traders should pay close attention, especially to US inflation data, which could heavily influence global risk sentiment.
United Kingdom:
● At 11:00 p.m. GMT — BRC Retail Sales (year-over-year, May)/ Forecast: 2.7%, Previous: 6.8%
United Kingdom:
● At 6:00 a.m. GMT, Jobless Claims Change (May). Forecast: +9.5K, Previous: +5.2K
● At 6:00 a.m. GMT, Unemployment Rate (April). Forecast: 4.6%, Previous: 4.5%
Eurozone:
● At 9:30 a.m. GMT, ECB Chief Economist Philip R. Lane is scheduled to speak.
United States:
● At 12:30 p.m. GMT, Core CPI (month-over-month, May). Forecast: +0.3%, Previous: +0.2%.
● At 12:30 p.m. GMT, the US Consumer Price Index (CPI) for May (year-over-year) will also be published. Forecast: 2.5%, Previous: 2.3%. At the same time, the monthly CPI is expected to remain unchanged at 0.2%, in line with the previous reading.
● At 2:30 p.m. GMT, US Crude Oil Inventories will be released. Previous: -4.304M barrels. An increase in inventories may put downward pressure on oil prices, while a decline could provide bullish momentum for the market.
United Kingdom:
● At 6:00 a.m. GMT, GDP (month-over-month, April). Forecast: -0.1%, Previous: +0.2%
United States:
● At 12:30 p.m. GMT, Initial Jobless Claims. Forecast: 241K, Previous: 247K.
● At the same time, Producer Price Index (PPI, month-over-month, May). Forecast: +0.2%, Previous: -0.5%
Germany:
● At 6:00 a.m. GMT, Consumer Price Index (month-over-month, May). Forecast: +0.1%, Previous: +0.4%
Eurozone:
● At 9:00 a.m. GMT — Industrial Production (month-over-month, April). Forecast: -1.5%, Previous: +2.6%/