Two central banks meet next week and are expected to cut interest rates.
- The Bank of Canada will announce its interest rate decision at 9:45 a.m. on Wednesday. They are expected to reduce the interest rate to 4.75% from 5.0%. The last policy change was in July 2023 when they raised interest rates from 4.75% to 5.0%.
- The European Central Bank is expected to cut its key funding rate to 4.25% from 4.5% at 8:15 AM EST. The last time the ECB changed interest rates was in September 2023
Other key events and releases next week include:
-
Monday 3 June:
- 9:45 AM ET: Final USD manufacturing PMI: 50.9 forecast, previous: 50.9
- 10 AM EST: USD ISM Manufacturing PMI: Expect 49.8, Previous: 49.2
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Tuesday 4 June:
- 2:30 AM ET: Monthly CHF CPI: 0.4% forecast, previous: 0.3%
- 10 a.m. ET: USD JOLTS: Forecast 8.40 million, Previous: 8.49 million
- 9:30 PM ET: AUD QoQ GDP: 0.2% forecast, previous: 0.2%
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Wednesday 5 June:
- 8:15 AM ET USD, ADP Non-Farm Payrolls Change: 175K Expectations, Previous: 192K
- 10 AM ET US Dollar Services PMI: Forecast: 51.0, Previous: 49.4
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Thursday 6 June:
- 8:30 AM ET: USD Jobless Claims: 215K Expected, Previous: 219K
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Friday, June 7:
- 8:30 AM ET: CAD Employment Change: 90.4K previously
- 8:30 AM ET: Unemployment rate in CAD: 6.1% previously
- 8:30 AM ET: Average hourly earnings in USD per month: 0.3%, Previous: 0.2%
- 8:30 AM ET: Non-Farm Employment Forecast in USD: 185K, Previous: 175K
- 8:30 AM ET: Unemployment rate in USD: 3.9%, previous: 3.9%
This article was written by Greg Michalowski at www.forexlive.com.