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HomeWeekly newsBusiness in the Week Ahead in India: June 03- June 07.

Business in the Week Ahead in India: June 03- June 07.

Business in the Week Ahead in India: include general election results, RBI interest rate decision, passenger vehicle sales, and monsoon progress.

The 7-phase General Elections will be declared on June 4, impacting future policy direction. S&P Global expects economic reforms and fiscal policies to remain consistent, regardless of the election outcome. The Reserve Bank of India and ECB and Bank of Canada will decide on interest rates.

Corporate data includes automobile companies’ wholesale dispatch numbers, passenger vehicle demand, Kronox Lab Sciences’ IPO, final purchasing managers indices, US employment, and monsoon rain progress.

Monday – June 03

Automobile Sales: Automobile manufacturers will release wholesale dispatch numbers for May. Channel checks by analysts indicate a moderation in passenger vehicle retail sales.

Manufacturing PMIs: HSBC will update final India Manufacturing PMI data for May. Preliminary estimates indicated a moderation in manufacturing PMI.

Separately, May manufacturing PMIs for China, Euro Area and US will also be updated.

IPO: The IPO of Kronox Lab Sciences will open for subscription. The company has set a price band of Rs 129-136 per equity-share for the public issue.

Tuesday – June 04

India Election Results: Results of the General Elections conducted over April-June 2024 will be declared on June 4.

US Job Openings: The number of job openings declined sequentially in March 2024. Data for April will be updated.

Wednesday – June 05

Services PMI: HSBC will release the final India Services PMI data. Preliminary estimates indicated an improvement in services sector activity.

Final May services PMI data for other major countries across the globe including China, Euro Area and US will also be updated.

Australia GDP, Bank of Canada Interest Rate Decision: The Bank of Canada is expected to cut interest rates amid easing price pressures. Separately, Australia will release the GDP data for quarter ending March 2024.

ThursdayJune 06

ECB Interest Rate Decision: With inflation easing, the European Central Bank is widely expected to cut interest rates in its June meeting.

US Jobless Claims: The number of people claiming unemployment benefits increased in the week ending May 25. Data for the week ending June 1 will be updated.

FridayJune 06

India Interest Rate Decision: The Reserve Bank of India will decide on the interest rates. The central bank left its benchmark policy repo unchanged at 6.5 percent in April meeting.

US Unemployment Rate: The unemployment rate in the US is expected to remain stable in May after rising slightly in April.

Must read book about investing – check here Business in the Week Ahead in India: India’s inflation/manufacturing data, US inflation and initial jobless claims etc. in Focus.Business Business Business in the Week Ahead in India: India’s inflation and manufacturing data, along with US and Euro area data, will be released, with US inflation and initial jobless claims crucial for Federal Reserve rate cut speculation.

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