Week Ahead week starting 12/6/23: Fed; ECB; Oracle, Adobe, Tesco results
The US Federal Reserve and European Central Bank interest rate decision and economic outlook are in focus as rate hike bets shift amid sticky inflation.
Earnings from Oracle and Adobe might prompt further AI excitement. Plus, Tesco’s results provide further hints on whether consumers continue to tighten their purse strings.
(Video Transcript)
Hello, welcome to IGTV. I am Angeline Ong, and this is your special look ahead to the coming week, starting the 12th of June. We'll be joined in just a second by senior market analyst, Axel Rudolph. First, let's take you through all the market-moving economic data in the coming week.
13/06
We start on Tuesday where Australia has consumer confidence numbers as well as business confidence numbers that are going to be key after that surprise hike recently. In Britain we've got the unemployment rate and the ZEW out of Germany and from the US watch out for the consumer price index, so we could have quite a few risk events there, or an opportunity for volatility actually for our traders on the IG platform, as well as crude oil inventories. Oil prices as you saw this week, rose on an expected fall in supply from the cuts from the Saudi side.
14/06
The set piece, of course FOMC rate decision there and the economic projections will be interesting as well, given that the Fed is now, there's this possibility out there that another rate hike might be on the cards. We've also got GDP numbers and industrial data. This is industrial production out of the UK, and industrial output data from the eurozone as well.
15/06
Later on in the week, it doesn't actually get less busy because we have trade numbers from Japan, the jobless rate out of Australia, Industrial production out of China. China making quite a few moves this week I might add to boost domestic consumption. We also have an interest rate decision out of the ECB and as you may well know, Christine Lagarde has been making a lot of sounds about how inflation still remains quite hot. We've also got retail sales out of the US along with industrial production figures.
16/06
And last, but not least an interest rate decision out of Japan, no change expected there, and consumer sentiment figures out of the US, along with the Baker Hughes Oil recount.
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