Trading News to Watch Next Week (03-07 June 2019)

Source: DF Markets

Our video features some, but not all, of the leading market events for next week. Explore the full list of 03-07 June events in our detailed report.

Monday, 03 June

 

GBP – Inflation Report Hearings – Tentative (High Impact)

During these hearings the BOE Governor and several MPC members testify on inflation and the economic outlook before Parliament’s Treasury Committee. The hearings are a few hours in length and can create market volatility for the duration. Especially noted are the direct comments made about the currency markets.

GBP – Manufacturing PMI – 4:30 am (Medium Impact)

Tracks the level of a diffusion index based on a survey of about 600 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

Above 50.0 indicates industry expansion, while below that indicates contraction. A previous monthly result of 53.1 slightly fell behind a 53.2 forecast.

USD – ISM Manufacturing PMI – 10:00 am (High Impact)

Tracks the level of a diffusion index based on a survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

A previous monthly result of 52.8 failed to meet the 55.0 consensus.

AUD – Retail Sales m/m – 9:30 pm (High Impact)

Shows the change in the total value of sales at the retail level. This metric is the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

A previous monthly result of 0.3% slightly outperformed a 0.2% forecast.

AUD – Current Account – 9:30 pm (Medium Impact)

Measures the difference in value between imported and exported goods, services, income flows, and unilateral transfers during the previous quarter.

A previous quarterly result of -7.2B crushed a -9.3B forecast.

Tuesday, 04 June

 

EUR – Core CPI Flash Estimate y/y – 5:00 am (Medium Impact)

Tracks the change in the price of goods and services purchased by consumers, excluding food, energy, alcohol, and tobacco.

A previous monthly result of 1.2% exceeded analysts’ expectations of 1.0%

AUD – Cash Rate – 12:30 am (High Impact)

Reports the interest rate charged on overnight loans between financial intermediaries. The rate decision is usually priced into the market, so it tends to be overshadowed by the RBA Rate Statement, which is focused on the future.

A previous monthly result of 1.50% beat a 1.25% forecast.

AUD – RBA Rate Statement – 12:30 am (High Impact)

Australian flag on Aussie dollar background

Source: DF Markets

This event is among the primary tools the RBA Reserve Bank Board uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions.

AUD – GDP q/q – 9:30 pm (High Impact)

Tracks the change in the inflation-adjusted value of all goods and services produced by the economy.

A previous quarterly result of 0.2% fell behind a 0.5% forecast.

Wednesday, 05 June

 

GBP – Services PMI – 4:30 am (Medium Impact)

Shows the level of a diffusion index based on survey of purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

Above 50.0 indicates industry expansion, while below that indicates contraction. A previous monthly result of 50.4 resonated with the general consensus.

USD – ADP Non-Farm Employment Change – 8:15 am (Medium Impact)

Shows the estimated change in the number of employed people during the previous month, excluding the farming industry and government. Automatic Data Processing, Inc. analyses payroll data from more than 23 million workers to derive employment growth estimations.

A previous monthly result of 275K crushed expectations of 181K.

AUD – Trade Balance – 9:30 pm (Medium Impact)

Shows the difference in value between imported and exported goods and services during the reported month.

A positive number indicates that more goods and services were exported than imported. A previous monthly result of 4.95B crushed expectations of 4.49B.

Thursday, 06 June

 

EUR – Monetary Policy Statement – 7:45 am (High Impact)

It’s the primary tool the ECB uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions.

CAD – Trade Balance – 8:30 am (High Impact)

Shows the difference in value between imported and exported goods during the reported month.

A positive number indicates that more goods were exported than imported. A previous monthly result of -3.2B severely fell behind analysts’ forecasts of -2.4B.

EUR – ECB Press Conference – 8:30 am (High Impact)

Euro sign on city skyscraper background

Source: DF Markets

It’s the primary method the ECB uses to communicate with investors regarding monetary policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, such as the overall economic outlook and inflation. The press conference is about an hour long and has 2 parts—first a prepared statement is read, then the conference is open to press questions.

Friday, 07 June

 

CAD – Employment Change – 8:30 am (High Impact)

Tracks the change in the number of employed people during the previous month. This is vital economic data released shortly after the month ends.

A previous monthly result of 106.5K crushed expectations of 11.7K.

CAD – Unemployment Rate – 8:30 am (High Impact)

Shows the percentage of the total workforce that is unemployed and actively seeking employment during the previous month.

A previous monthly unemployment rate of 5.7% slightly outperformed expectations of 5.8%.

USD – Average Hourly Earnings m/m – 8:30 am (High Impact)

Shows the change in the price businesses pay for labor, excluding the farming industry.

A previous monthly result of 0.2% slightly fell below the expected 0.3%.

USD – Non-Farm Employment Change – 8:30 am (High Impact)

Shows the change in the number of employed people during the previous month, excluding the farming industry. This is vital economic data released shortly after the month ends.

A previous monthly result of 263K crushed analysts’ predictions of 181K.

USD – Unemployment Rate – 8:30 am (High Impact)

Tracks the percentage of the total workforce that is unemployed and actively seeking employment during the previous month.

A previous monthly unemployment rate of 3.6% outperformed expectations of 3.8%.

 

Visit our economic calendar to study past and future events in more detail.

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