21 June 2023
Emily Nicol
,
Chris Scicluna
- Reuters Tankan survey signalled a pickup in Japan’s recovery momentum, with auto manufacturers benefitting from an easing in supply constraints
- Fed Chair Powell expected to deliver a relatively hawkish message before Congress, reiterating that further interest rate hikes are likely this year
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19 June 2023
Emily Nicol
,
Chris Scicluna
- BoE expected to hike Bank Rate by a further 25bps, but in the event of a sizeable upside surprise to May’s CPI report we wouldn’t rule out a larger 50bps increase
- Flash euro area PMIs likely to point a further moderation in economic recovery momentum
- Japanese CPI figures expected to report a slight easing in headline inflation, but a further increase in underlying price pressures
- Fed Chair Powell’s monetary policy testimony to Congress likely to reiterate that the current inflation outlook justifies further policy tightening this cycle
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16 June 2023
Chris Scicluna
,
Emily Nicol
- Detailed inflation data and labour cost and slack figures in focus in the euro area
- BoE household inflation attitudes survey to be closely watched ahead of next week’s policy decision
- Michigan consumer survey expected to suggest that US consumer sentiment remains soft as price expectations remain elevated
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15 June 2023
Chris Scicluna
,
Emily Nicol
- PBoC cuts 1-year loan rate as Chinese recovery momentum ebbs
- Retail sales and IP reports due on a busy day for US data after the Fed’s hawkish pause
- Net trade on track to provide a boost to Japan’s GDP growth
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14 June 2023
Chris Scicluna
,
Emily Nicol
- Fed set to pause tightening cycle, focus on dot-plot and guidance for near-term policy path
- Euro area IP to have risen in April, but will fail to reverse the weakness at the end of Q1
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