CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

June 2024 EVENTS - 03/06/2024

Micro Analysis

03 June, 2024

For General Information only. Not Intended to Provide Trading or Investment Advice. Your Capital is at Risk.

  • OPEC+ Meeting (June 2nd)

OPEC+ members (including Russia) will hold an online meeting to decide whether to prolong the current deal. In March the cartel extended current production cuts until the end of June.

Possible Influence: Volatile Crude oil

  • US ISM Manufacturing PMI for May (June 3rd at 15:00 GMT+1)

ISM Manufacturing PMI previous print was 49.2. The number was lower than the expected 50.0.

Possible influence: Volatile US Dollar, Gold and US Stocks

  • Bank of Canada Meeting (June 5th at 14:45 GMT+1)

The Bank of Canada will meet to set interest rates. They are currently 5%. The forecast is that the bank may decide to cut rates by 0.25% this month or in July.

Possible Influence: Volatile Canadian Dollar and Canadian Stocks

  • European Central Bank Meeting (June 6th at 13:15 GMT+1)

The European Central Bank will meet to discuss interest rates. Rates are currently at 4.5% but a rate cut of 0.25% is expected to be announced at this month’s meeting.

Possible Influence: Volatile Euro and European Stocks

  • U.S. Unemployment Rate and Non-Farm Payrolls (NFP) (May) (June 7th at 13:30 GMT+1)

The previous month had unemployment at 3.9%. Nonfarm Payrolls for the previous month printed 175,000.

Possible Influence: Volatile US Dollar, Gold and US Stocks

  • NVIDIA Stock Split June 10th (Premarket)

Possible Influence: Volatile NVIDIA stock and US stocks

  • US Inflation data (May) (June 12th at 13:30 GMT+1)

Core CPI (excluding food and energy) was 3.6%, Year-over-Year in April. Top-line CPI for April came in at 3.4%, in line with the expected 3.4%.

Possible Influence: Volatile US Dollar, Gold and US Stocks

  • Federal Reserve meeting and press conference (June 12th at 19:00 GMT+1 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 5.5%. Analysts expect the rate to remain unchanged at this meeting.

Possible Influence: Volatile US Dollar, Stocks, and Commodities

  • The 50th G7 Summit (June 13th - June 15th)

The G7 Summit will be held in Italy and will be attended by leaders of G7 nations: US, Germany, Japan, France, Italy, UK and Canada. The theme is Climate, Energy and Environment, but leaders will also discuss the global economy, the conflicts in Israel and Ukraine.

Possible Influence: Volatile US Dollar, Gold and Crude Oil

  • Bank of Japan Meeting (June 14th at 03:00 GMT+1)

The Bank of Japan will meet to set its interest rates. In March the bank increased rates by 0.10%, the first increase since 2016. Most analysts believe a rate cut this month is unlikely.

Possible Influence: Volatile Japanese Yen

  • Retail Sales in the US for (May) (June 18th at 13:30 GMT+1)

Retail Sales was at 0.0%, Month-over-Month, in April, which was lower than expected by the market.

Possible Influence: Volatile US Dollar, Gold and US Stocks

  • Reserve Bank of Australia Interest Rate decision (June 18th at 05:30 GMT+1)

The RBA will meet to decide on interest rates. The current rate is 4.35%.

Possible Influence: Volatile Australian Dollar

  • Bank of England Meeting (June 20th at 12:00 GMT+1)

The Monetary Policy Committee of the Bank of England will meet to decide on interest rates. The current rate is 5.25%. The rate was unchanged at the May 9th meeting and will remain unchanged this month.

Possible Influence: Volatile British Pound and British stocks

  • US Presidential debate between Presidents Biden and Trump (June 27th)

The first presidential debate live on CNN will take place on June 27th where the candidates will discuss geopolitical and economic issues. The second debate will take place in September with a third slated for October. With opinion polls showing a potentially close result, the debates are considered to be very important. The US presidential election takes place in November.

Possible Influence: Volatile US dollar, Gold, US stocks

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