The Week Ahead: 6th – 10th June 2022

Overview for the Week Ahead

The yen was on the back foot on Monday and the dollar held firm against most peers ahead of a busy policy-focused week in which inflation is in the spotlight with a major European Central Bank meeting and U.S. consumer price data scheduled.

Top of the agenda for many traders this week is Thursday’s meeting by the European Central Bank, which is expected to prepare the ground for an interest rate hike at its July meeting.

There is some market speculation the ECB could start with a large 50 basis point rise, after euro zone inflation accelerated to yet another record high in May.

The Reserve Bank of Australia meets on Tuesday, and most analysts polled by Reuters expect a 25-basis point rate hike, though some anticipate a 40-basis point increase.

This week’s other major event is U.S. consumer price data due on Friday.

A high inflation reading would add to expectations of aggressive tightening by the U.S. Federal Reserve and likely put an end to last month’s speculation it will take a break from raising interest rates at its September meeting.

Bitcoin continued to wobble around $30,000 as it has for the past three weeks and was 4% firmer at $31,300.

Plan your trades carefully and have a great trading week!

This Week’s High Impact Events

The times below are GMT +3.

Monday 6th June

  • No High Impact Events Today

Tuesday 7th June

  • 07.30 – Australia – Cash Rate & RBA Rate Statement

Potential instruments to Trade: AUD Crosses. 

  • 17.00 – Canada – Ivey PMI

Potential instruments to Trade: CAD Crosses. 

Wednesday 8th June

  • No High Impact Events Today

Thursday 9th June

  • 14.45 – Europe – Main Refinancing Rate & Monetary Policy Statement

Potential instruments to Trade: EUR Crosses. 

  • 15.30 – Europe – ECB Press Conference

Potential instruments to Trade: EUR Crosses. 

  • 15.30 – US – Unemployment Claims

Potential instruments to Trade: USD Crosses. 

  • 18.00 – Canada – BOC Gov. Macklem Speaks

Potential instruments to Trade: CAD Crosses. 

Friday 10th June

  • 15.30 – Canada – Employment Change & Unemployment Rate

Potential instruments to Trade: CAD Crosses. 

  • 15.30 – US – CPI m/m & Core CPI m/m

Potential instruments to Trade: USD Crosses. 

  • 17.00 – US – Prelim UoM Consumer Sentiment

Potential instruments to Trade: USD Crosses. 

For more information – https://errante.eu/economic-calendar/

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

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To find out more about Errante, visit https://errante.eu.

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