WEEK AHEAD: Hawkish Fed fallout, Powell testimony & BOE Meeting

Read the key events to monitor for the week which starts on June 21, 2021.  

The Federal Reserve’s signal that interest rate hikes could come sooner than expected is expected to dominate market sentiment in the coming week and likely the months ahead as market participants digest the hawkish shift in policy guidance.

As a result, an appearance by Fed Chair Jerome Powell before Congress on Tuesday will be in focus, as will comments by several other Fed officials during the week. Friday’s data on personal income and spending will be closely watched as it contains the core PCE price index, which is rumored to be the Fed’s favorite measure of inflation.

Stock markets traded lower last week, with value stocks in particular taking a hit and this pattern looks set to continue, in the short term at least. In the UK, the Bank of England meets on Thursday with markets on the lookout for new rate hike clues.

 

CALENDAR

MONDAYEarnings: N/A
Macro
Asia: China rate decision
Europe: N/A

Monetary Policy
ECB President Christine Lagarde speaks
St. Louis Fed President James Bullard speech,
New York Fed President John Williams speech

TUESDAYEarnings: Korn Ferry
Macro
US: Existing Home Sales
UK: N/A
Europe: N/A
Monetary Policy
Fed Chair Powell testifies to Congress

WEDNESDAYEarnings: IHS Markit, Winnebago, KB Home, Steelcase
Macro
US: Manufacturing & Services PMI (June), New Homes sales, crude oil inventories
UK: Manufacturing & Services PMI (June)
Europe: Manufacturing & Services PMI (June)
Monetary Policy
Atlanta Fed President Raphael Bostic, Boston Fed President Eric Rosengren

THURSDAYEarnings: Accenture, Darden, Rite Aid, Nike, FedEx, Blackberry
Macro
US: Durable goods orders, GDP, initial jobless claims
Europe: Germany IFO
Monetary Policy
BOE rate decision, minutes,

FRIDAYEarnings: CarMax, Paychex
Macro
U.K:  N/A
EU: N/A
US: Consumer sentiment, Personal spending, Core PCE index
Monetary Policy
Cleveland Fed’s Mester speech
Boston Fed’s Rosengren speech


Sources: Investing.com, CNBC

bg_newsletter
LiveWire

3 hours ago

#Stocks pare gains after US #GDP #PCE  #trading

4 hours ago

German #inflation signs of peak? #cpi #stock #trending

7 hours ago

Where is the bottom? #S&P500 $spy #stocks #trading