For week starting June 12, 2017
The week ahead will be highlighted by the FOMC meeting on Wednesday at 2:00 PM ET/1800 GMT.
The Federal Reserve is expected to raise rates by 0.25% basis points and target 1.25% to 1.50%. This would be the 4th increase in the unwind for the Fed. The Fed will also give their projections on GDP, employment, inflation and the projection of rates going forward. They may also give more detail on tapering QE.
Other key events:
Tuesday:
UK CPI 4:30 AM ET/0830 GMT. The expectation is for YoY to remain unchanged at 2.7%. The Core is expected to decline to 2.3% from 2.4%. MoM is expected to increase by 0.2%.
US PPI for May, 8:30 AM ET/1230 GMT. The US PPI is expected remain unchanged MoM and dip to 2.3% YoY (from 2.5% last). Ex food and energy the MoM is expected to rise 0.2% vs 0.4% last and remain at 1.9% for the YoY
Wednesday:
UK employment statistics will be released at 4:30 AM ET/0830 GMT. The employment change (3M/3M) is expected to rise by 125K vs 122K last month. The Unemployment rate is expected to remain unchanged at 4.6%. Average hourly earnings are expected to remain unchanged at 2.4%.
US CPI for May, 8:30 AM ET/1230 GMT. US CPI for May is expected to remain unchanged at 0.0% (0.2% last month). Ex Food and energy expected to rise by 0.2%. YoY is expected to decline to 2.0% from 2.2% last month with Ex food and energy remaining unchanged at 1.9%.
US retail sales for May, 8:30 AM ET/1230 GMT. US retail sales for May is expected to increase by 0.1% for the month (vs +0.4% last month). The ex auto is expected to rise by 0.1% (vs 0.3%). The control group is expected to rise by 0.3% vs 0.2% last.
Thursday:
New Zealand GDP Q/Q, 6:45 PM ET (Wednesday)/0945 GMT (Wednesday). The 2Q GDP for New Zealand is expected to increase by 0.7% (vs 0.4% in the 1Q.
Australia employment change, 9:30 PM ET (Wednesday)/0130 GMT. The Australia employment statistics for May are expected to show a change of 10K vs 37.4K last month. The unemployment rates is expected to remain unchanged at 5.7% vs 5.7% last. Last month, full time employment fell -11.6K and part time added 49.0K. The participation rate is expected to remain unchanged at 64.8%.
SNB Monetary policy assessment and press conference, 3:30 AM ET/0730 GMT. No change in the Libor rate of -0.75% is expected.
UK retail sales for May, 4:30 AM ET/0830 GMT. The UK retail sales are expected to fall -1.0% after an oversized increase of 2.3% in April. Ex auto and fuel, it is also expected to fall -1.0% vs 2.0% gain. YoY headline is expected to rise 1.6% and 1.9% ex fuel.
UK BOE interest rate decision. 7:00 AM ET/1100 GMT. The BOE is expected to keep rates unchanged at 0.25%. With the election surprise, add political uncertainty to the Brexit uncertainty. The last vote was 1 for a hike and 7 for unchanged. Will the lone dissenter fall in line?
Friday:
BOJ is expected to keep rates unchanged at -0.10%.