Macro Calendar - Will EMU Inflation Sway the ECB?

Today's economic calendar presents several key data releases. We begin with Swiss inflation data, though the Eurozone inflation figures will undoubtedly be of greater significance, especially ahead of the ECB meeting on Thursday. It's important to note that these will be preliminary readings for May. Another crucial point on the calendar will be the release of US data, particularly labour market statistics.

Today's Calendar:

07:30 AM BST, Switzerland - Inflation Data for May:

• CPI: forecast -0.1% YoY; previous 0.0% YoY;
• CPI: forecast 0.1% MoM; previous 0.0% MoM;

10:00 AM BST, Euro Zone - Employment Data for April:

• Unemployment Rate: forecast 6.2%; previous 6.2%;

10:00 AM BST, Euro Zone - Inflation Data for May:

• CPI: previous 0.6% MoM;
• CPI: forecast 2.0% YoY; previous 2.2% YoY;
• Core CPI: forecast 2.4% YoY; previous 2.7% YoY;
• Core CPI: previous 1.0% MoM;

03:00 PM BST, United States - Total Vehicle Sales for May:

• forecast 16.00M; previous 17.27M;

03:00 PM BST, United States - Durable Goods for April:

• Factory orders ex transportation: forecast 0.2% MoM; previous -0.4% MoM;
• Factory Orders: forecast -3.1% MoM; previous 3.4% MoM;
• Durables Excluding Defense: forecast -7.5% MoM; previous -7.5% MoM;
• Durables Excluding Transport: previous 0.2% MoM;

03:00 PM BST, United States - JOLTS Job Openings for April:

• forecast 7.110M; previous 7.192M;

05:00 PM BST, Euro Zone - ECB President Lagarde Speaks

09:30 PM BST, United States - EIA Data:

• API Weekly Crude Oil Stock: previous -4.236M;