Analysts at Deutsche Bank suggest that it’s a fairly quiet start to the week with the only releases of significance coming from Europe with the May Bank of France industrial sentiment print, and April industrial and manufacturing production, and trade data in the UK.
Key Quotes
“Brexit headlines may become a factor with UK’s David Davis set to meet with EU’s Michal Barnier to discuss the state of talks. It’s worth noting that German Finance Minister Olaf Scholz is also set to discuss EU reform in a panel interview.”
“Tuesday: All eyes will be on Singapore on Tuesday with President Trump set to meet North Korea’s Kim Jong Un in an historic summit. In terms of data, the big highlight on Tuesday comes in the afternoon in the US with the May CPI report. The May NFIB small business optimism reading and May monthly budget statement will also be out in the US. Prior to this in Europe we’ll get the June ZEW survey in Germany and April/May employment data in the UK including average weekly earnings. In Japan the May PPI report is also due. Meanwhile, UK Parliament is due to hold a 12-hour session on Brexit legislation with various amendments due.”
“Wednesday: All eyes will be on the Fed on Wednesday when we get the outcome of the FOMC meeting, followed closely by Fed Chair Powell’s statement. Prior to that we get the May PPI report in the US, while in Europe we’ll get May CPI prints out of the UK (along with RPI and PPI) and Spain. April industrial production for the Euro area is also due.”
“Thursday: The focus switches to the ECB on Thursday with their latest monetary policy meeting due in the early afternoon, followed by President Draghi’s press conference. Prior to that we are due to get final May CPI revisions in Germany and France, while in China May retail sales, industrial production and fixed asset investment is due. In the UK May retail sales data is due while in the US the main data release is also the May retail sales report. The May import price index reading is due too in the US along with weekly initial jobless claims and April business inventories data.”
“Friday: The final central bank meeting of the week will see the BoJ conclude their monetary policy meeting in the early morning. Datawise, the final May CPI revisions for the Euro area will be made along with that for Italy. In the US we’ll get June empire manufacturing, May industrial production and the preliminary June University of Michigan consumer sentiment survey. Finally the World Cup starts on Friday. Good luck to those with an interest.”
Share
