Despite the relatively light calendars for Monday and Tuesday, the week gets much more interesting onwards. On Wednesday, the highlight is likely to be the BoC meeting. Expectations are for the Bank to keep rates unchanged, so attention is likely to turn on the accompanying statement. In the US, the spotlight will fall on the US employment data, as well as the core PCE index, the Fed’s favorite inflation gauge. Eurozone’s preliminary inflation data is likely to take center stage as well.
On Monday, the calendar is almost empty, with major events or indicators scheduled.
On Tuesday, the only indicators worth mentioning are Japan’s unemployment rate for April and the US Conference Board Consumer confidence index for May. Expectations are for Japan’s unemployment rate to have held steady to 2.5%, while the US CB index is anticipated to have declined fractionally, to 128.2 from 128.7 in April.
On Wednesday, the calendar gets heavier, and the main event is likely to be the BoC rate decision. Expectations are for the Bank to keep interest rates unchanged at 1.25%. Thus, given that this will be...
The last time they met, officials kept interest rates unchanged, while they acknowledge the progress on key issues they watch closely, particularly inflation and wage growth. That said, they...
Read the full financial markets weekly outlook on JFD Research.