Economic calendar: PMI day!

7:51 AM June 23, 2022
  • European indices set for a slightly lower opening

  • Flash PMI release for June from Europe and the United States

  • Second day of Powell's testimony in Congress

Futures markets point to a flat or slightly lower opening of today's cash trading session for major European stock market indices. Oil dropped further during the Asian session but bulls managed to recover from the drop and now crude is trading slightly higher on the day.

Economic calendar for day ahead is packed with interesting events and releases. Traders will be offered flash PMI readings from EU, United Kingdom and the United States. In most cases, a slight deterioration is expected. Apart from PMIs, rate decisions from two central banks will also be announced - Norges Bank and Central Bank of the Republic of Turkey. Norges Bank is expected to deliver a 25 basis point rate hike while CBRT is expected to stay on hold. Last but not least, Fed Chair Powell will appear in the House of Representatives today for the second day of semi-annual testimony. Text of the testimony will be the same as yesterday but questions from lawmakers may differ. Nevertheless, second day of hearing usually does not trigger such volatility spikes as the first one.

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8:15 am BST - France, PMI indices for June.

  • Manufacturing. Expected: 53.8. Previous: 54.6

  • Services. Expected: 57.5. Previous: 58.3

8:30 am BST - Germany, PMI indices for June.

  • Manufacturing. Expected: 53.9. Previous: 54.8

  • Services. Expected: 54.5. Previous: 55.0

9:00 am BST - Norges Bank rate decision

9:00 am BST - Euro area, PMI indices for June.

  • Manufacturing. Expected: 53.8. Previous: 54.6

  • Services. Expected: 55.5. Previous: 56.1

9:30 am BST - UK, PMI indices for June.

  • Manufacturing. Expected: 53.8. Previous: 54.6

  • Services. Expected: 53.0. Previous: 53.4

12:00 pm BST - CBRT rate decision

1:30 pm BST - US, jobless claims. Expected: 225k. Previous: 229k

2:45 pm BST - US, PMI indices for June.

  • Manufacturing. Expected: 56.5. Previous: 57.0

  • Services. Expected: 53.5. Previous: 53.4

3:00 pm BST - Fed Chair Powell testifies in the House of Representatives

3:30 pm BST - US, natural gas storage. Expected: 96 bcf. Previous: 92 bcf

4:00 pm BST - DOE report on oil inventories.

  • Oil inventories. Expected: -1.4 mb (API: +5.60 mb)

  • Gasoline inventories. Expected: +0.6 mb (API: +1.22 mb)

  • Distillate inventories. Expected: +0.6 mb (API: -1.65 mb)

Central bankers' speeches

  • 3:30 pm BST - ECB Villeroy and Nagel

  • 7:00 pm BST - ECB Villeroy

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