Trading News to Watch Next Week (10-14 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 10-14 June events in our detailed report.
Monday, 10 June
GBP – GDP m/m – 4:30 am (High Impact)
Tracks the change in the total value of all goods and services produced by the economy.
A previous monthly performance of -0.1% slightly dipped below a 0.0% forecast.
GBP – Manufacturing Production m/m – 4:30 am (High Impact)
Shows the change in the total inflation-adjusted value of output produced by manufacturers. Manufacturing makes up around 80% of total industrial production and tends to dominate the market impact.
A previous monthly performance of 0.9% significantly outperformed the general consensus of 0.1%.
Tuesday, 11 June
GBP – Average Earnings Index 3m/y – 4:30 am (High Impact)
Tracks the change in the price businesses and the government pay for labor, including bonuses. The index is a leading indicator of consumer inflation—when businesses pay more for labor the higher costs are usually passed onto the consumer.
A previous monthly performance of 3.2% fell behind analysts’ expectations of 3.4%.
GBP – Unemployment Rate – 4:30 am (Medium Impact)
Shows the percentage of the total workforce that is unemployed and actively seeking employment during the past 3 months.
A previous monthly performance of 3.8% did slightly worse than forecasted (3.9%).
CNY – New Loans – 11th-14th (Medium Impact)
Denotes the value of new yuan-denominated loans issued to consumers and businesses during the previous month. Borrowing and spending are positively correlated—consumers and businesses tend to seek credit when they are confident in their future financial position and feel comfortable spending money.
A previous monthly performance of 1020B significantly fell behind the 1175B forecast.
USD – Core PPI m/m – 8:30 am (Medium Impact)
Shows the change in the price of finished goods and services sold by producers, excluding food and energy.
A previous monthly performance of 0.1% underperformed vs. forecasts of 0.2%.
CNY – CPI y/y – 9:30 pm (Medium Impact)
Measures the change in the price of goods and services purchased by consumers. The average price of various goods and services are sampled and then compared to the sampling done a year earlier.
A previous monthly performance of 2.5% remained consistent with the forecasts.
Wednesday, 12 June
USD – Core CPI m/m – 8:30 am (High Impact)
Shows the change in the price of goods and services purchased by consumers, excluding food and energy. Food and energy prices account for about a quarter of CPI, but they tend to be very volatile and distort the underlying trend.
A previous monthly performance of 0.1% did not meet expectations of 0.2%.
AUD – Employment Change – 9:30 pm (High Impact)
Highlights the change in the number of employed people during the previous month. This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts.
A previous monthly performance of 28.4K was overwhelmingly positive vs. a forecast of 15.2K.
AUD – Unemployment Rate – 9:30 pm (High Impact)
Shows the percentage of the total workforce that is unemployed and actively seeking employment during the previous month.
A previous monthly performance of 5.2% failed to meet analysts’ forecasts of 5.0%.
Thursday, 13 June
CHF – SNB Monetary Policy Assessment – 3:30 am (High Impact)
Source: DF Markets
This policy assessment is the primary tool that the SNB Governing 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 projects the economic outlook and offers clues on the outcome of future rate decisions.
CHF – Libor Rate – 3:30 am (Medium Impact)
Tracks the London interest rate for 3-month Swiss franc deposits. In this event, the SNB Governing Board members come to a consensus on where to set the target range for the rate. The SNB usually announces a target range for Libor, and the midpoint is considered the target rate, unless specifically stated otherwise.
A previous quarterly vote of -0.75% aligned with analysts’ expectations.
CHF – SNB Press Conference – 4:00 am (High Impact)
To be attended by the SNB Chairman and Governing Board Members. The conference is held when rates are announced in June and December. It’s about an hour long and has 2 parts. First, the prepared statements are read, then the conference is open to press questions.
All – OPEC-JMMC Meetings – Tentative (Medium Impact)
OPEC-JMMC meetings are attended by representatives from the 13 OPEC (The Organization of Petroleum Exporting Countries) members and 11 other oil-rich nations. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
CNY – Industrial Production y/y – 10:00 pm (Medium Impact)
Shows the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities. Chinese data can have a broad impact on the currency markets due to China’s influence on the global economy and investor sentiment.
A previous monthly performance of 5.4% failed to meet analysts’ forecasts of 6.5%.
Friday, 14 June
USD – Core Retail Sales m/m – 8:30 am (High Impact)
Tracks the change in the total value of sales at the retail level, excluding automobiles.
A previous monthly performance of 0.1% underperformed vs. the 0.7% consensus.
USD – Prelim UoM Consumer Sentiment –10:00 am (Medium Impact)
Tracks the level of a composite index based on a survey of about 500 consumers which asks respondents to rate the relative level of current and future economic conditions.
A previous monthly performance of 102.4 crushed 97.8 forecasts.
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