Analytics, 14 June 2021
What will drive the markets this week?
Global stocks closed higher last week, with the S&P 500 hitting a fresh record in the US despite concerns over inflation. In Europe, reopening optimism continues to push markets higher as investors rotate into cyclical sectors such as commodities, industrials, and banks that tend to benefit from an economic recovery.
This week, investors will expect a relatively quiet corporate calendar and a very busy economic calendar, highlighted by the Federal Reserve’s meeting – Tuesday & Wednesday - on interest rates.
In the economic calendar, investors will parse reports on industrial production, manufacturing, and labor costs from several European countries, at a time when European equity markets are experiencing a strong resurgence.
Monday, June 7:
- Market holiday in Mainland China and Hong Kong for Dragon Boat Festival. Market Holiday in Australia for the Queen’s Birthday.
- Indian Wholesale Price Index Inflation (May).
- Eurozone Industrial Production (April)
- Indian Consumer Price Index (CPI) (May)
- Canadian Manufacturing Sales (April).
Tuesday, June 8:
- U.K. Unemployment Rate (May).
- German CPI (May).
- French CPI (May).
- Eurozone Trade Balance (April).
- Canadian Housing Starts (May).
- U.S. Producer Price Index (PPI) (May).
- U.S. Retail Sales (May).
- U.S. Industrial Production (May).
- Japanese Trade Balance (May)
- Chinese Unemployment Rate (May)
Wednesday, June 9:
- Market Holiday in South Africa for Youth Day.
- U.K. CPI (May).
- U.K. PPI (May).
- Chinese Industrial Production (May).
- U.S. Building Permits (May).
- U.S. Housing Starts (May).
- Canadian CPI (May).
- U.S. Federal Open Markets Committee (FOMC) Statement, Interest Rates Decision and Meeting Minutes.
Thursday, June 10:
- Eurozone CPI (May).
- U.S. Philadelphia Fed Manufacturing Index (June).
- Bank of Japan Monetary Policy and Interest Rate Decision.
Friday, June 10:
- U.K. Retail Sales. (May).
- German PPI (May).