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Today there is no notable event in the European trading day and all events will occur in the American trading day where we will see the Canadian CPI data and the US Consumer Confidence report.
12:30 GMT/08:30 ET – Canadian CPI for May
Canadian CPI YoY is expected to come in at 2.6% vs. 2.7% previously, while M/M is expected at 0.3% vs. 0.5% previously. The average CPI on an annual basis is expected to be 2.8% versus 2.9% previously, while the average Consumer Price Index (CPI) on an annual basis is expected to be 2.6% versus 2.6% previously.
the final report It showed that core inflation measures fell within the Bank of Canada’s 1-3% target range, giving the central bank the green light to provide support. Top notch pieces. The market expects a 65% chance of another rate cut in July (55.6 basis points by year-end) but that will depend on today’s CPI data.
14:00 GMT/10:00 ET – US Consumer Confidence for June
The US Consumer Confidence Index is expected to come in at 100, compared to 102 previously. the final report Confidence showed improvement after three consecutive months of decline. “The strong labor market continued to reinforce consumers’ overall assessment of the current situation,” the Conference Board’s senior economists stressed.
Moreover, “looking ahead, fewer consumers expected a deterioration in future working conditions, job availability, and income.” The overall confidence measure has remained within the relatively narrow range it has hovered in for more than two years. The current status indicator will be something to keep an eye on given the recent bugs in US unemployment claims Because this is generally a Leading indicator
Regarding the unemployment rate.
Central bank speakers:
- 11:00 GMT/07:00 ET – Fed’s Bowman (Hawker – Voter)
- 16:00 GMT/12:00 ET – Fed Cook (Neutral – Voter)
This article was written by Giuseppe DellaMotta on www.forexlive.com.
