- Macro calendar is quite light today
- Speeches by central bankers in the spotlight
- Futures indices indicate a lower session opening
Today's macro calendar does not abound in any significant publications. In the first part of the day, CPI data from China has already been released, which fell below expectations. Consumer inflation dropped to 0.0% YoY, while producer inflation dropped to -5.4% YoY. Today, the markets will be more focused on the speeches by central bankers. We have several members of the Fed scheduled to speak, as well as the head of the BoE, Mr. Bailey.
However, the most important day for macroeconomic publications this week will be Wednesday, the day of the CPI inflation report in the US. The data will finally confirm whether investors can expect a 0.25% rate hike at the next Fed meeting. The only case for holding back on rate hikes could be record-low CPI Headline readings below 3.0% (forecasted 3.1%), as well as a significant drop in core CPI (forecasted 5.0%).
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Create account Try a demo Download mobile app Download mobile appDetailed macro calendar for the day:
8:30 AM, Sweden - Riksbank Minutes publication
1:30 PM, Canada - Building Permits for May:
- Expected: +7.5% MoM, Previous: -18.8% MoM
Bankers' speeches:
- 3:00 PM BST - Fed member, Barr
- 4:00 PM BST - Fed member, Daly
- 4:00 PM BST - Fed member, Mester
- 4:00 PM BST - BoE Governor, Bailey
- 5:00 PM BST - Fed member, Bostic
- 5:00 PM BST - Bundesbank President, Nagel
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