- Index contracts in Europe are trading lower
- EURUSD strengthens in anticipation of CPI from Germany, following Gfk Germany sentiment higher than forecasts
- Investors await the Fed's Beige Book, which could shed more light on the assessment of the business situation and sentiment among households and US businesses
Today's macro calendar, like yesterday's, is relatively light. At 7:00 AM GMT we will learn retail sales data from Spain, and at 8:00 AM GMT flash CPI inflation from Poland, for May where the reading is already expected to be 0.4 percentage points higher than the previous one. The next readings will already have more weight; we are talking about CPI / HICP inflation from Germany, which will be known at 12:00 AM GMT, and here to the market expects higher data.
Investors' attention will then shift to the regional Richmond Fed at 2 PM GMT and the Fed's Beige Book (a survey of economists, fund managers and businesses regarding their assessment of the market situation and prospects for the U.S. economy), which will be published at 6 PM GMT. In turn, John Williams of the New York Fed will speak at 5:45 PM GMT and the market will listen closely to see if he will be as hawkish as Neel Kashkari was yesterday. After the US session, the change in oil, gasoline and distillate inventories according to the API survey will be published.
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Create account Try a demo Download mobile app Download mobile appDetailed schedule for the day:
7:45 AM GMT, Household confidence index from France: 91 forecast vs. 90 expected previously
7:00 AM GMT, Retail sales from Spain
8:00 AM GMT, CPI inflation from Poland: 2.8% forecast vs. 2.4% previously (0.4% m/m vs. 1.1% m/m previously)
12:00 AM GMT, CPI inflation from Germany: 2.4% forecast vs 2.2% previous (0.5% vs 0.2% previous)
2 PM GMT, Richmond Fed from the US: -7 forecast vs -2 previously
6 PM GMT, Fed Beige Book
10:40 PM GMT, U.S. oil inventories by API (2.4 billion barrels exp. vs. 2.48 billion previously)
