- Weaker PMI data from China and industrial production from Japan
- CPI inflation in the spotlight on the European markets
- Several speeches by FED members
In today's macro calendar, there are several particularly important publications, including inflation data in Europe, which central bank members will certainly be closely monitoring. In the first part of the day, investors got familiar with industrial production data from Japan and PMI data from China, which, in short, came worse than expected. Industrial production in Japan fell by 0.4% MoM compared to the expected 1.5% growth forecasted by analysts. Similarly, retail sales on a yearly basis increased by 5.0% YoY - less than the expected 7.0% YoY. In response to the weaker data, the Japanese Nikkei index lost over 1.1%. Concerns about slowing economic activity in China are also justified after the May PMI readings, with the industrial subindex at 48.8 compared to the forecasted 49.4.
Today, investors will learn about key inflation readings in Europe for May. In Poland, a decrease in CPI inflation is forecasted to 13.2%, in Germany to 6.5%, and in France to 7.4% on a yearly basis.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
Detailed macro calendar:
07:30 AM BST, Switzerland - Retail Sales
- Expected: -1.4% YoY, Previous: -1.9% YoY
07:45 AM BST, France - CPI
- Expected: 5.5% YoY, Previous: 5.9% YoY
09:00 AM BST, Poland - CPI
- Expected: 13.2% YoY, Previous: 14.7% YoY
02:00 PM BST, Germany - CPI
- Expected: 6.5% YoY, Previous: 7.2% YoY
09:40 PM BST, USA - Crude Oil Inventories
- Expected: 0.7 mn brk, Previous: -6.8 mn brk
Central bank speeches:
- 09:30 AM BST - Visco, President of the Bank of Italy
- 01:30 PM BST - Lagarde, President of the European Central Bank
- 01:50 PM BST - Bowman, FED member
- 01:50 PM BST - Collins, FED member
- 04:00 PM BST - Jordan, President of the Swiss National Bank
- 06:30 PM BST - Harker, FED member
- 06:30 PM BST - Jefferson, FED member
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
