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The week ahead: 20/06/22

After the Bank of England last week raised the UK base rate to 1.25%, all eyes will turn to Wednesday’s UK inflation data. Other notable figures include US existing and new home sales, US current account and UK retail sales, while a light earnings schedule includes Nordex, Accenture, FedEx and CarMax.

Monday 20 June

As Juneteenth was last year designated a US federal holiday, US markets will for the first time be closed on Monday in recognition. Despite being a quiet day for data, we’ll see the latest German PPI figures in the morning: last time out producer prices were shown to have risen 33.5% year-on-year.

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Tuesday 21 June

On Tuesday the CBI issues its latest industrial trends survey of manufacturing order books in the UK, while in the US we’ll get existing home sales data for May. Earnings are scheduled from US home construction company Lennar and wind turbine manufacturer Nordex, which last week secured an order to supply turbines for three wind farms in Colombia.

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Wednesday 22 June

The extent of the cost-of-living crisis will be further determined on Wednesday as the UK CPI data for May is published at 7am. Annual price inflation stood at 9% in April, its highest level in over 40 years. We’ll also see eurozone consumer confidence, and earnings from US housebuilder KB Home, motorhome manufacturer Winnebago Industries and software and IT consulting firm Micro Focus.

Thursday 23 June

FedEx chart: 17/06/22
   FedEx chart: 17/06/22 (click to expand image)

US courier FedEx reports to the market on Thursday, after last week raising its dividend and adding two directors to its board as part of its deal with hedge fund DE Shaw. Figures are also due from professional services provider Accenture, cybersecurity software firm BlackBerry and ‘internet of things’ provider CalAmp. Look out for flash manufacturing and services PMI data for Japan, France, Germany, the eurozone, the UK and the US, plus the CBI’s distributive trades survey for the UK, and the US Q1 current account.

Go long or short of UK, US and European equities.

Friday 24 June

Early on Friday the Japanese national CPI for May is released, followed later in the morning by UK retail sales and the German Ifo business climate index. In the US we’ll get the University of Michigan consumer sentiment report and the latest new home sales, plus earnings from used vehicle retailer CarMax.

Published: 20 June 2022

You should under no circumstances consider the information and comments provided as an offer or solicitation to invest. This is a macro summary of scheduled news announcements and is not investment advice, independent research or an investment recommendation. The information provided is believed to be accurate at the date the information is produced.

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