June 2023 EVENTS
- US ISM Manufacturing PMI (May) (June 1st at 15:00 GMT+1)
April's ISM Manufacturing PMI printed at 47.1. The consensus forecast for May is 48.
Possible influence: Volatile US Dollar, Gold and US Stocks
- U.S. Unemployment Rate and Non-Farm Payrolls (NFP) (May) (June 2nd at 13:30 GMT+1)
The Unemployment rate for April was 3.4%. It is expected to rise to 3.5% for May. Non-Farm Payrolls are expected to fall to 180,000 for May, lower than April’s figure of 253,000.
Possible Influence: Volatile US Dollar, Gold and US Stocks
- OPEC and Non OPEC Joint Ministerial Meeting (June 3-4)
OPEC and Non OPEC Ministers will meet to discuss the state of the oil market and whether to continue the current OPEC deal.
Possible Influence: Volatile Brent and Crude Oil (WTI) prices
- Reserve Bank of Australia Interest Rate decision (June 6th at 03:30 GMT+1)
The RBA will meet to decide on interest rates. The current rate is 3.85%.
Possible Influence: Volatile Australian Dollar
- Bank of Canada Meeting (June 7th at 15:00 GMT+1)
The Bank of Canada will meet to set interest rates. They are currently 4.5%. The forecast is that the rate will remain unchanged at 4.5%.
Possible Influence: Volatile Canadian Dollar and Canadian Stocks
- Inflation data in US (May) (June 13th at 13:30 GMT+1)
Core CPI (excluding food and energy) was 5.5%, Year-over-Year in April. May’s Core CPI is expected to fall to 5.4%, Year-over-Year. Top-line CPI for April came in at 4.9%, Year-over-Year and the forecast is a drop to 4.7%, Year-over-Year, in May.
Possible Influence: Volatile US Dollar, Gold and US Stocks
- FED meeting and press conference (June 14th at 19:00 GMT and 19:30 GMT+1)
The US Federal Open Market Committee of the U.S Federal Reserve will conclude its 2-day meeting to decide on interest rates. The current rate is 5.25% after the bank hiked rates by 25 basis points in May. Most analysts are now expecting a 25 basis point increase to 5.50% this month.
Possible Influence: Volatile US Dollar, Stocks, and Commodities
- European Central Bank Meeting (June 15th at 13:15 GMT+1)
The European Central Bank will meet to discuss interest rates. They are currently at 3.75% and are forecasted to be increased to 4%.
Possible Influence: Volatile Euro and European Stocks
- Retail Sales in US (May) (June 15th at 13:30 GMT+1)
Retail Sales rose 0.4 %, Month-over-Month, in April. Retail Sales for May are expected to rise 0.5%, Month-over-Month.
Possible Influence: Volatile US Dollar, Gold and US Stocks
- Bank of Japan Meeting (June 15th-16th at 03:00 GMT+1)
The Bank of Japan will meet to set its interest rates. The current rate is -0.10% and is expected to remain the same level.
Possible Influence: Volatile Japanese Yen
- Bank of England Meeting (June 22nd at 12:00 GMT+1)
The Monetary Policy Committee of the Bank of England will meet to decide on interest rates. Following last month’s 25 basis point hike the current rate is 4.50%. It is expected to raise interest rates again this month.
Possible Influence: Volatile British Pound and British Stocks
- United States GDP, Final Reading (1st Quarter) (June 29th at 13:30 GMT+1)
The final reading of 1st Quarter GDP in the United States is expected to come in at 1.3%. The 4th Quarter’s final GDP reading was 2.6%.
Possible Influence: Volatile US Dollar, Gold and US Stocks
- Company Earnings Season (June)
The last of the 1st Quarter earnings are reported in June along with a couple of early reporters for the following quarter. Companies reporting include Chargepoint, Zscaler, NIO, Oracle, Adobe, FedEx, Nike, Walgreens Boots Alliance, and Micron Technology.
Possible Influence: Volatile US Stocks
- Ongoing Tension between the United States, Russia, Europe, and Ukraine (June)
The War in Ukraine continues with no sign of peace in sight. Ukraine is expected to begin its long awaited counter-offensive in June.
Possible Influence: Volatile US Dollar, Natural Gas, Wheat, Volatile Russian Ruble, Gold, Oil, Palladium, and US Stocks
- United States Debt Ceiling Negotiations (June)
The United States is expected to run out of money to fund all of its operations and debts around June 5, 2023 without an increase in the debt ceiling. President Biden and House Speaker McCarthy struck a deal the last week of May that still requires COngressional approval in both the House and Senate. The votes are expected to take place in the first few days of June.
Possible Influence: Volatile US Stocks, Currencies, Gold