Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (June 11, 2024)
UK Jobs Data (2.00pm) – The latest reading of the UK jobs report will provide clues for the central bank of England to continue discussions on their monetary policy. If the published data declines, it is likely that the same decision will be taken as the European central bank last week.
WEDNESDAY (June 12, 2024)
UK GDP data (2.00 PM) - Also of interest to the central bank of England is the UK economic growth report. The monthly growth forecast for April is zero, down from the previous month which recorded growth of 0.4%.
US Inflation Data (8.30 PM) – After last week's NFP, the Federal Reserve's focus will be on this week's consumer inflation data, which is the main indicator for determining monetary policy decisions. The market forecast is that the inflation figure will remain the same as before for May.
THURSDAY (June 13, 2024)
FOMC Meeting (2.00 AM) - Moments that investors are waiting for, the results of the FOMC meeting will be the driving force behind market movements. Interest rates are still expected to be kept at 5.50% with the follow-up speech by Chairman Jerome Powell playing a big role.
Australian Jobs Data (9.30am) – A total of 30,000 total job gains in Australia are expected in May, slightly lower than the previous month's figure. While the unemployment rate is predicted to decrease from 4.1% to 4.0%.
US Producer Inflation Data (8.30 PM) – The US producer price index (PPI) data will be watched for the market to assess changes in the price of goods and services from producer to consumer level. The forecast for May's reading is slightly lower than the previous month.
FRIDAY (June 14, 2024)
BOJ Policy Meeting (Asia Session) – Japan's central bank is expected to keep interest rates at 0.10% for the second time after raising them from negative levels at the March meeting. Any new indication of monetary policy will be noted through a follow-up speech by the governor.
US Consumer Sentiment Data (10.00 PM) – The University of Michigan will report a consumer sentiment survey that measures the level of financial confidence that can signal spending and economic activity in the US.
