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HomeLatest NewsWeekly newsKey Events in the Week Ahead: Fed Decision, UK unemployment rate , US...

Key Events in the Week Ahead: Fed Decision, UK unemployment rate , US CPI,PPI, BoJ decision  highlight the releases and events.

Key Events cover All eyes will be on the US CPI report and the FOMC Policy Decision.

Monday – June 10

US

  • 10:00 AM ET                Employment Trends for May
  • 1:00 PM ET U.S. Treasury to sell $58B in 3-year notes.

Earnings

  • FuelCell Energy
  • Yext (YEXT),
  • Calavo Growers (CVGW),
  • Skillsoft (SKIL), Zedge (ZDGE),
  • MIND Technology (MIND)

Other Key Events on watch

  • Apple (AAPL) WWDC June 10-14
  • Goldman Sachs Annual Global Healthcare Conference, 6/10-6/13, in Miami, FL
  • JP Morgan Canada 1×1 Forum, 6/10-6/11, in Toronto, CA
  • Morgan Stanely Financials, Payments & CRE Conference, 6/10-6/12, in New York
  • Oppenheimer 25th Annual Consumer Growth and E-Commerce Conference, 6/10-6/12
  • Oppenheimer 2024 Software Bus Tour, 6/10-6/13, in San Francisco

Tuesday – June 11

UK unemployment rate

The UK unemployment rate is expected to remain steady at 4.3%, with wage growth at 5.7% and 6.0%. The BoE is focusing on inflation data, and the market expects 30 bps of easing by year end.

Key Events on watch

US

  • 6:00 AM ET NFIB Small Business Optimism for May
  • 7:45 AM ET ICSC Weekly Retail Sales
  • 8:55 AM ET                  Johnson/Redbook Weekly Sales
  • 4:30 PM ET API Weekly Inventory Data

Other Key Events on watch

  • Apple (AAPL) WWDC June 10-14
  • Deutsche Bank Global Auto Industry Conference, 6/11-6/12, in New York
  • Goldman Sachs Annual Global Healthcare Conference, 6/10-6/13, in Miami, FL
  • JP Morgan Canada 1×1 Forum, 6/10-6/11, in Toronto, CA
  • Morgan Stanely Financials, Payments & CRE Conference, 6/10-6/12, in New York
  • Oppenheimer 25th Annual Consumer Growth and E-Commerce Conference, 6/10-6/12
  • Oppenheimer 2024 Software Bus Tour, 6/10-6/13, in San Francisco
  • RBC Capital Financial Technology Conference, 6/11 in New York
  • China CPI and PPI data for May

Earnings

  • Oracle
  • ZEEKR Intelligent Technology Holding Limited (ZK),
  • Rubrik (RBRK),
  • Mama’s Creations (MAMA),
  • PetMed Express (PETS),
  • Academy Sports and Outdoors (ASO),
  • Qudian (QD),
  • Lilium N.V. (LILM),
  • Casey’s General Stores (CASY),
  • Enzo Biochem (ENZ),
  • Rafael Holdings (RFL),
  • Motorcar Parts of America (MPAA),
  • Streamline Health Solutions (STRM),
  • Yunji (YJ)

Global

  • UK Labour Market report,
  • US NFIB Small Business Optimism Index.


Wednesday –June 12

US CPI

The US CPI Y/Y is expected to be 3.4% higher than the prior year, while the M/M measure is expected to be 0.2% higher. This release, coming on the same day as the FOMC decision, is expected to have a binary outcome with higher-than-expected figures triggering a hawkish reaction and lower-than-expected readings leading to a more dovish repricing.

Federal Reserve

The Fed is expected to maintain interest rates at 5.25-5.50%, with minimal changes to the statement. The focus will be on the Summary of Economic Projections (SEP) and the Dot Plot, with two rate cuts projected for this year to align with market expectations. Powell’s press conference is expected to maintain a neutral tone, as inflation moves back to target at a slower pace. The US CPI report on the same day of the FOMC decision could change the market’s pricing, impacting the Dot Plot.

Key Events on watch

US

  • 7:00 AM ET MBA Mortgage Applications Data
  • 8:30 AM ET                  Consumer Price Index (CPI) M/M headline for May
  • 8:30 AM ET                  Consumer Price Index (CPI) M/M headline for May
  • 8:30 AM ET CPI Core (Ex: Food & Energy) M/M for May
  • 8:30 AM ET CPI Core (Ex: Food & energy) Y/Y for May
  • 10:30 AM ET                Weekly DOE Inventory Data
  • 11:00 AM ET                Cleveland Fed CPI for May
  • 12:00 PM ET USDA WASDE June Crop Report
  • 2:00 PM ET FOMC Policy Meeting results (no rate change expected)
  • 2:00 PM ET                   Federal Budget for May

Other Key Events on watch

  • Apple (AAPL) WWDC June 10-14
  • Deutsche Bank Global Auto Industry Conference, 6/11-6/12, in New York
  • Deutsche Bank 28th Annual European Leveraged Finance Conference, 6/12, in London
  • Goldman Sachs Annual Global Healthcare Conference, 6/10-6/13, in Miami, FL
  • Jefferies FinTech Conference, 6/12-6/13, in New York
  • Mizuho Technology Conference 2024, 6/12 in New York
  • Morgan Stanely Financials, Payments & CRE Conference, 6/10-6/12, in New York
  • Oppenheimer 25th Annual Consumer Growth and E-Commerce Conference, 6/10-6/12
  • Oppenheimer 2024 Software Bus Tour, 6/10-6/13, in San Francisco

Earnings

  • Broadcom
  • Dave & Buster’s Entertainment (PLAY),
  • Oxford Industries (OXM),
  • Torrid Holdings (CURV),
  • Zhihu (ZH),
  • Vera Bradley (VRA),
  • Affimed N.V. (AFMD),
  • Coda Octopus Group (CODA)

Global

  •  Japan PPI,
  • China CPI,
  • UK GDP,
  • US CPI,
  • FOMC Policy Decision.

Thursday – June 13

Australian Labour Market

The Australian Labour Market report predicts 39K jobs added in May, a lower unemployment rate of 4.0%, and a potential repricing of interest rate expectations, focusing on inflation figures.

US PPI

The US PPI Y/Y is expected to be 2.2% higher than the prior estimate, while the Core PPI is expected to be 2.3% higher. However, market sentiment is expected to be set the day before.

US Jobless Claims

The US Jobless Claims release is crucial for monitoring labor market conditions, with Initial Claims hovering around cycle lows and Continuing Claims remaining stable at 1800K. This week’s Initial Claims are expected at 227K, with no consensus on Continuing Claims.

Key Events on watch

USA

  • 8:30 AM ET                  Weekly Jobless Claims
  • 8:30 AM ET                  Continuing Claims
  • 8:30 AM ET                  Producer Price Index (PPI) M/M headline for May
  • 8:30 AM ET                  Producer Price Index (PPI) M/M headline for May
  • 8:30 AM ET PPI Core (Ex: Food & Energy) M/M for May
  • 8:30 AM ET PPI Core (Ex: Food & energy) Y/Y for May
  • 10:30 AM ET                Weekly EIA Natural Gas Inventory Data
  • 12:00 PM ET                Fed’s Williams Interviews Treasury Secretary Yellen
  • 1:00 PM ET U.S. Treasury to sell $25B in 30-year notes.

Other Key events

  • Apple (AAPL) WWDC June 10-14
  • European Hematology Association (EHA) 2024 Congress, 6/13-6/16, in Spain
  • Goldman Sachs Annual Global Healthcare Conference, 6/10-6/13, in Miami, FL
  • Jefferies FinTech Conference, 6/12-6/13, in New York
  • Oppenheimer 2024 Software Bus Tour, 6/10-6/13, in San Francisco
  • RBC Capital Global Mining & Materials Conference, 6/13-6/14, in New York

Earnings

  • Adobe

Global

  • Australia Labour Market report,
  • Swiss PPI,
  • Eurozone Industrial Production,
  • US PPI,
  • US Jobless Claims.

Friday –June 14

BoJ

The BoJ is expected to maintain interest rates at 0.00-0.10% and reduce government bond buying, potentially causing Yen strength. This could lead to a resumption of depreciation against other major currencies if the trend persists.

Key Events on watch

USA

  • 8:30 AM ET                  Import Prices M/M for May
  • 8:30 AM ET                  Export Prices M/M for May
  • 10:00 AM ET                University of Michigan Sentiment, June-prelim
  • 10:00 AM ET                University of Michigan 1 and 5-yr inflation expectations, June-prelim
  • 1:00 PM ET                   Baker Hughes Weekly rig count data
  • 2:00 PM ET                   Fed’s Goolsbee Speaks in Fireside Chat

Other Key events

  • Apple (AAPL) WWDC June 10-14
  • European Hematology Association (EHA) 2024 Congress, 6/13-6/16, in Spain
  • RBC Capital Global Mining & Materials Conference, 6/13-6/14, in New York

Earnings

  • None

Global

  • New Zealand Manufacturing PMI,
  • BoJ Policy Decision,
  • US University of Michigan Consumer Sentiment.

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