European markets seen opening flat
ECB to announce rate decision at 12:45 pm BST
US CPI inflation data expected to show another increase
European futures markets point to either flat or slightly higher opening of the cash session for most blue chips indices. Ranges on the FX market are narrow as the market awaits two big events today - ECB meeting and US CPI inflation data.
European Central Bank is expected to leave rates unchanged. There was some speculation that bond purchases may be lower but comments from ECB members seemed to reject that idea. Market also expects little to no changes to economic forecasts. Press conference of ECB President Lagarde at 1:30 pm BST may offer some further details. US CPI data release looks to be more interesting. Expectations point to another steep increase but what would the market do if data shows even higher figures? Last time we saw a big beat but post-release weakness on the stock markets was short-lived.
12:45 pm BST - European Central Bank rate decision
1:30 pm BST - US, CPI inflation for May.
Headline. Expected: 4.7% YoY. Previous: 4.2% YoY
Core. Expected: 3.4% YoY. Previous: 3.0% YoY
1:30 pm BST - US, jobless claims. Expected: 370k. Previous: 385k
This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.