Financial Market Preview for June 8-12

The latest NFP report presented a better than expected results with a gain of 280K jobs back in May.  This news is likely to keep echoing in the first couple of trading days this week but the release of the JOLTS could change the market sentiment if it doesn’t reach market estimates. Here are a list of the main reports and events on this week’s agenda: U.S. retail sales, Japan’s current account, U.S. PPI, China’s new loans, U.S. JOLTS, Great Britain manufacturing production, U.S. consumer sentiment, China’s industrial production, Japan’s GDP for Q1, and German industrial production. So let’s breakdown the economic calendar for the week of June 8th to 12th.  

(All times GMT):

Monday, June 8th

00:50 – Japan’s Current Account: This report will show the changes in the difference between imported and exported goods, services, and income flows. In the previous monthly report, the surplus in the current account reached 2.07 trillion yen;

00:50 – Japan’s GDP for Q1: This will be the final estimate for Japan’s GDP growth rate in the first quarter. The current expectations are it will show a gain of 0.6%. This comes after the economy grew by 0.4% in the fourth quarter;

Tentative – China’s Trade Balance: China’s trade balance surplus has expanded in the past month and is expected to further expand in the next monthly report; this update provides another indication for the economic activity in the world’s second largest economy;

08:00 – German Industrial Production: In the recent report, industrial production declined by 0.5% during April; currently, the market expectations are for a gain of 0.6% in May;

Tuesday, June 9th

02:30 – China’s CPI: According to the recent report, the CPI increased to an annual rate of 1.54%; if the annual rate falls again, it could signal the Chinese economy isn’t gaining; the current expectations are for the CPI to inch down to 1.3%;

15:00 – U.S JOLTS Job Openings: The Bureau of Labor Statistics will release its monthly report on the U.S number of job openings for April, excluding the farming industry; in the previous update regarding March, the number of jobs opening declined to 4.99 million; current market predictions are for the number to increase to 5.03 million;

Wednesday, June 10th

03:50 –Governor Stevens speaks: Reserve Bank of Australia Governor will speak at the Economic Society of Australia, in Melbourne;

09:30 – Great Britain Manufacturing Production: This report will present the annual rate of GB’s manufacturing production for April; in the last report regarding March 2015 the index rose again by 0.4%; this time, the estimates are for 0.1% gain in April;

09:00 –BOE Governor Carney Speaks: Carney is expected to speak at the Annual Mansion House Dinner, in London;

15:30 – U.S Crude Oil Stockpiles Weekly update: The EIA (Energy Information Administration) will release its weekly report on the U.S oil and petroleum stockpiles for the week ending on June 5th;

Thursday, June 11th

02:30 – Australia Employment Update: In the last update regarding April 2015 the rate of unemployment inched up to 6.2%; the number of employed (seasonally adjusted) slipped by 2.9K people. This report may move the Australian dollar (see here the recent report);

05:30 – China’s Industrial Production: According to the latest monthly update, China industrial production grew to an annual rate of 5.9% — slightly below market projections; the growth rate is estimated to further rise — current estimate is for a growth rate of 6%;

Tentative – China New Loans: According to the previous report, the total loans fell to 708 billion Yuan; this report is another indicator for China’s economic progress; the current expectation are for another an increase in the balance;

13:30 –U.S. Retail Sales Report: This monthly report refers to May; in the recent report regarding April, retail sales remained flat (month-over-month); core retail inched up by 0.1%; this report also shows the changes in U.S’s gasoline retail sales, which could provide some insight vis-à-vis the progress in demand for gasoline; current outlook is for a 0.7% gain in core retail sales in May;

13:30 – U.S. Jobless Claims Weekly Report:  This weekly report will pertain to the changes in the initial jobless claims for the week ending on June 6th; in the previous report, jobless claims declined to 276K; the expectations are  for this number to remain virtually unchanged at 277K;

15:30 – EIA U.S. Natural Gas Storage: The EIA weekly report of the U.S. natural gas market will refer to the recent changes in natural gas production, storage, consumption and rates as of June 5th;

16:15 –BOC Governor Poloz Speaks: The Governor will hold a press conference about Financial System Review, in Ottawa;

Friday, June 12th

13:30 – U.S. Producer Price Index: This report presents the inflation rate from the producers’ side; it will refer to May 2015. In the recent report regarding April, this index for finished goods slipped by 0.4% compared with the previous month’s level; the core PPI also declined by 0.2%; current estimates are for the PPI to present a gain of 0.4% in the next report;

14:55 – UoM Consumer Sentiment (preliminary): University of Michigan will publish its preliminary consumer sentiment monthly report; this survey could offer information vis-à-vis the latest developments in U.S consumers’ sentiment; According to the previous report, the sentiment index dropped to 88.6;

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