Sunday Jun 19 2022 07:04
10 min
It’s another busy few days of economic data in the wake of last week’s barrage of central bank action. Here’s the main events to mark in your trading diary.
Jay Powell
After the Fed raised rates by 75bps last week we can start hearing from policymakers again – the usual Fed speakers will be doing the rounds. Chief among these is Jay Powell, who is due to testify on the Semi-Annual Monetary Policy Report before the Senate Banking Committee. The two-day hearing begins on Wednesday, and we can expect further clarification on where the Fed is at in terms of inflation and the likely path of monetary policy.
RBA
Early in the week we hear twice from Reserve Bank of Australia governor Lowe. On Tuesday there’s also the minutes from the last RBA policy meeting, at which it surprised markets with a 50bps hike. Then Lowe is back in action on Friday.
Home sales
On Tuesday the US existing housing sales figures are released for a read on the state of the property sector. Mortgage demand has collapsed, indicating house sales have slowed as consumers feel the pinch from rising interest rates and high inflation.
Inflation
The focus for sterling and other UK assets will be the latest inflation data on Wednesday. Coming after last week’s Bank of England meeting, it will give more fuel for GBP crosses to move. CPI jumped to 9% in April from 7% in March, indicative of the sharp move higher in prices.
PMIs
Thursday is PMI day with flash manufacturing and services surveys for the Eurozone, UK and US due out. These will help provide a snapshot of global economic conditions and show whether businesses are feeling the effect of high cost-input inflation and whether they think they can continue to pass this on to consumers.
Economic calendar
| Mon Jun 20 | 12:01am | GBP | Rightmove HPI m/m |
| 12:10am | AUD | RBA Gov Lowe Speaks | |
| 7:00am | EUR | German PPI m/m | |
| 9:00am | GBP | MPC Member Haskel Speaks | |
| Tentative | EUR | German Buba Monthly Report | |
| 2:00pm | GBP | MPC Member Mann Speaks | |
| All Day | USD | Bank Holiday | |
| 10:00pm | NZD | Westpac Consumer Sentiment | |
| Tue Jun 21 | 1:00am | AUD | RBA Gov Lowe Speaks |
| 2:30am | AUD | Monetary Policy Meeting Minutes | |
| 7:00am | CHF | Trade Balance | |
| 8:15am | GBP | MPC Member Pill Speaks | |
| 9:00am | EUR | Current Account | |
| 11:00am | GBP | CBI Industrial Order Expectations | |
| 1:15pm | GBP | MPC Member Tenreyro Speaks | |
| 1:30pm | CAD | Core Retail Sales m/m | |
| CAD | Retail Sales m/m | ||
| CAD | NHPI m/m | ||
| 3:00pm | USD | Existing Home Sales | |
| 3:30pm | AUD | CB Leading Index m/m | |
| Tentative | NZD | GDT Price Index | |
| 5:00pm | USD | FOMC Member Mester Speaks | |
| 11:45pm | NZD | Trade Balance | |
| Wed Jun 22 | 12:50am | JPY | Monetary Policy Meeting Minutes |
| 1:30am | AUD | MI Leading Index m/m | |
| 4:00am | NZD | Credit Card Spending y/y | |
| 7:00am | GBP | CPI y/y | |
| GBP | Core CPI y/y | ||
| GBP | PPI Input m/m | ||
| GBP | PPI Output m/m | ||
| GBP | RPI y/y | ||
| 9:30am | GBP | HPI y/y | |
| 9:40am | GBP | MPC Member Cunliffe Speaks | |
| 1:30pm | CAD | CPI m/m | |
| CAD | Common CPI y/y | ||
| CAD | Median CPI y/y | ||
| CAD | Trimmed CPI y/y | ||
| CAD | Core CPI m/m | ||
| 2:00pm | CHF | SNB Quarterly Bulletin | |
| 3:00pm | EUR | Consumer Confidence | |
| USD | Fed Chair Powell Testifies | ||
| 3:40pm | CAD | Gov Council Member Rogers Speaks | |
| Thu Jun 23 | 12:00am | AUD | Flash Manufacturing PMI |
| AUD | Flash Services PMI | ||
| 1:30am | JPY | Flash Manufacturing PMI | |
| 6:00am | JPY | BOJ Core CPI y/y | |
| 7:00am | GBP | Public Sector Net Borrowing | |
| 8:00am | CHF | KOF Economic Barometer | |
| 8:15am | EUR | French Flash Services PMI | |
| EUR | French Flash Manufacturing PMI | ||
| 8:30am | EUR | German Flash Manufacturing PMI | |
| EUR | German Flash Services PMI | ||
| 9:00am | EUR | ECB Economic Bulletin | |
| EUR | Flash Manufacturing PMI | ||
| EUR | Flash Services PMI | ||
| 9:30am | GBP | Flash Manufacturing PMI | |
| GBP | Flash Services PMI | ||
| 11:00am | GBP | CBI Realized Sales | |
| 1:30pm | USD | Unemployment Claims | |
| USD | Current Account | ||
| 2:45pm | USD | Flash Manufacturing PMI | |
| USD | Flash Services PMI | ||
| 3:00pm | USD | Fed Chair Powell Testifies | |
| 3:30pm | NAT GAS | Natural Gas Storage | |
| 4:00pm | OIL | Crude Oil Inventories | |
| Tentative | USD | Bank Stress Test Results | |
| All Day | NZD | Bank Holiday | |
| Fri Jun 24 | 12:01am | GBP | GfK Consumer Confidence |
| 12:30am | JPY | National Core CPI y/y | |
| JPY | Tokyo Core CPI y/y | ||
| 12:50am | JPY | SPPI y/y | |
| 7:00am | GBP | Retail Sales m/m | |
| 9:00am | EUR | German ifo Business Climate | |
| 12:00pm | GBP | BOE Quarterly Bulletin | |
| 12:30pm | AUD | RBA Gov Lowe Speaks | |
| 1:30pm | GBP | MPC Member Pill Speaks | |
| 2:00pm | EUR | Belgian NBB Business Climate | |
| 2:45pm | GBP | MPC Member Haskel Speaks | |
| 3:00pm | USD | Revised UoM Consumer Sentiment | |
| USD | New Home Sales | ||
| USD | Revised UoM Inflation Expectations |
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