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Events to Look Out for Next Week


  • Interest Rate Decision, Monetary Policy Statement and Press Conference (JPY, GMT 03:00) The BoJ is expected to remain sidelined. There has been some speculation of a shift in YCC, but comments from Governor Ueda suggest he wants to maintain the easy stance to allow the economy’s gains to fully take hold. BoJ sees little need to tweak yield curve control, according to a Bloomberg source story. Bloomberg cited people “familiar with the matter” as saying that given the improvement in the functioning of the bond market and the smooth shape of the yield curve, there is little need to adjust the yield curve control program. Officials recognise that inflation is running stronger than they expected, which means the BoJ could upgrade its inflation forecast in the quarterly economic outlook report in July, although the officials aren’t confidence enough yet to say that the 2% price target is assured, indicating the need for continues monetary stimulus. The sources stress through that the final policy decision will be made after assessing economic data and developments in financial markets up until the last moment, according to Bloomberg. The BoJ’s two-day meeting concludes on June 16 and a Bloomberg survey showed that all respondents expect Governor Ueda to keep policy on hold.
  • Consumer Price Index (EUR, GMT 09:00) – The Eurozone inflation data for May showed the headline rate falling -0.9 percentage points to 6.1% y/y. This was the fifth consecutive decline and the lowest reading since February of 2022. Much of the improvement reflects the correction in energy prices. The ECB’s latest survey showed that expectations for the next 12 months fell to 4.1% from 5.0% in March.
  • Michigan Sentiment (USD, GMT 14:00) – The preliminary Michigan sentiment report is expected to reveal a headline dip to a 7-month low of 59.0 from 59.2 in May, versus a 13-month high of 67.0 in February.

Click here to access our Economic Calendar

Andria Pichidi

Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

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Having completed her five-year-long studies in the UK, Andria Pichidi has been awarded a BSc in Mathematics and Physics from the University of Bath and a MSc degree in Mathematics, while she holds a postgraduate diploma (PGdip) in Actuarial Science from the University of Leicester.

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