CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Economic calendar: Powell's testimony in the spotlight

07:45 21 June 2023
  • European indices set for flat opening
  • GBP gains after UK CPI report
  • Powell to appear in Congress for semiannual testimony

European index futures point to a flat opening of the cash session on the Old Continent today. This comes after a downbeat trading on Wall Street yesterday and in Asia earlier today. GBP is on the rise after UK CPI data for May showed headline inflation staying unchanged and core gauge accelerating to 30-year high.

Economic calendar for today includes some interesting events with the first day of Powell's semiannual congressional testimonies being a top one. Powell will attempt to explain why Fed decided to keep rates unchanged while at the same time sending a rather hawkish message regarding meetings in the remainder of 2023. Also, Powell will likely face questions about US banking turmoil that occurred in late-March. Apart from Powell's testimony, investors will also be offered rate decision from Czech National Bank, Canadian retail sales data as well as API report on US oil inventories.

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9:00 am BST - Poland, data pack for May.

  • Employment change. Expected: +0.4% YoY. Previous: +0.4% YoY
  • Wage growth. Expected: +12.7% YoY. Previous: +12.1% YoY
  • Industrial production. Expected: -3.0% YoY. Previous: -6.4% YoY

1:30 pm BST - Canada, retail sales for April.

  • Headline. Expected: +0.2% MoM. Previous: -1.4% MoM
  • Ex-autos. Expected: +0.3% MoM. Previous: -0.3% MoM

1:30 pm BST - Czech National Bank rate decision

3:00 pm BST - Fed Chair Powell testifies before US House Financial Services Committee

9:40 pm BST - API report on US oil inventories. Expected: -0.4 mb. Previous: +1.02 mb

Central bankers' speeches

  • 9:00 am BST - ECB Kazimir
  • 2:45 pm BST - ECB Schnabel
  • 5:25 pm BST - Fed Goolsbee
  • 9:00 pm BST - Fed Mester & Bowman

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 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. XTB 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.

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