The Week Ahead: Week of 26 June (GMT+3)

Tuesday, 27 June, 17:00 – US CB Consumer Confidence (Jun)

Ahead of the anticipated release of the U.S. CB Consumer Confidence data, the University of Michigan has published the Consumer Sentiment Index for the United States. It shows a monthly increase of 7.9% from 59.2 to 63.9 points in June, indicating that Americans feel upbeat about inflation and the economy. Based on the available data, June’s U.S. CB Consumer Confidence data is expected to be around 104, compared to the previous record of 102.3.

Thursday, 29 June, 15:00 EU German CPI (MoM) (Jun)

The forecast for Germany’s Consumer Price Index (CPI) in May was 0.6%. However, the actual reading turned out to be -0.1%, coming in as positive news for the inflation-plagued region. However, the unexpected decrease raises concerns about the potential impact that rate hikes have had on the economy, with some cautioning a slow down in rate increases.

Thursday, 29 June, 15:30 – US GDP (QoQ) (Q1)

In May, the Gross Domestic Product (GDP) data surpassed expectations with an annualised growth rate of 1.3%, exceeding the forecasted rate of 1.1% and giving more reasons for the Fed to continue with its expected hiking cycle – 25 basis points at each of the next two FOMC meetings. 

Friday, 30 June, 9:00 – UK GDP (QoQ) (Q1)

In the first quarter of 2023, the U.K.’s GDP grew by 0.1%, aligning with the predicted forecast. However, the U.K. economy ranks bottom among G7 countries in growth, trailing behind Germany, France, and the U.S. The country continues to face high inflation rates, necessitating close monitoring of upcoming U.K. data.

Friday, 30 June, 15:30 – US Core PCE Price Index (MoM) (May)

The May data for the overall PCE price index indicates a slight rise of 0.1% compared to the previous month’s 0.3%. Services mainly drove this increase, while goods experienced disinflation. The question remains whether dropping prices will see the Fed ease up on its monetary policy.

Step into the world of trading with confidence today. Open a free PU Prime live CFD trading account now to experience real-time market action, or refine your strategies risk-free with our demo account.

Disclaimer

This content is for educational and informational purposes only and should not be considered investment advice, a personal recommendation, or an offer to buy or sell any financial instruments.

This material has been prepared without considering any individual investment objectives, financial situations. Any references to past performance of a financial instrument, index, or investment product are not indicative of future results.

PU Prime makes no representation as to the accuracy or completeness of this content and accepts no liability for any loss or damage arising from reliance on the information provided. Trading involves risk, and you should carefully consider your investment objectives and risk tolerance before making any trading decisions. Never invest more than you can afford to lose.