Economic Calendar | June 5 – June 9

Monday, June 5 

On Monday, the final data on the index of business activity in the service sector of almost all countries are published, but they are not of any interest, since they should only confirm the preliminary estimates already taken into account by the market.

But the producer price index (PPI) in the eurozone will be of much greater interest, as it will indicate further inflationary dynamics. Producer prices in the eurozone fell by 3.2% in monthly terms in April, and increased by 1% in annual terms. Analysts on average expected prices to rise by 1.4% year-on-year and decrease by 3.1% compared to March.

Tuesday, June 6 

Tuesday will start with the Reserve Bank of Australia's interest rate decision. The regulator is expected to keep the rate at 3.85%.

Then you should pay attention to the statistics on retail sales in the eurozone. And considering that they should decrease by 0.1% in a month, this will indicate a further decline in consumer activity, which is the main engine of economic growth in the region. So the single European currency will be under pressure on Tuesday. 

Wednesday, June 7

On Wednesday, Australia will present data on GDP in the first quarter: they should show a slowdown in economic growth from 2.7% to 2.4%. And this will naturally lead to a weakening of the Australian dollar. 

Then there will be a meeting of the Board of the Bank of Canada, following which the level of interest rates should once again remain unchanged (4.5%). It is expected that the regulator will make statements about the possibility of easing monetary policy, and in the near future. That will not affect the Canadian dollar in the best way and it will begin to lose its positions.

Thursday, June 8

Japan's GDP data published on Thursday is likely to be ignored, since we are talking about final data that will only confirm preliminary estimates. The situation is similar in the eurozone's GDP. 

So the only thing worth paying attention to is applications for unemployment benefits in the United States. It is expected that the number of both primary and repeated requests should increase somewhat. Which will cause a certain local correction, and the dollar will noticeably lose its position.

Friday, June 9

The only thing that will be of interest on Friday is the data on the labor market in Canada. Analysts predict that unemployment will rise from 5.0% to 5.1%, which will put pressure on the Canadian dollar.