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| Dear rtykj, This week, global financial markets face dual pressures from key economic data and corporate developments. US PMI price components and Core PCE data will offer crucial signals on the Federal Reserve’s policy outlook under Warsh’s leadership. Meanwhile, the Bank of Japan’s Summary of Opinions will shed light on its policy direction, while Nvidia’s shareholder meeting could influence global tech valuations. |
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US & Eurozone June S&P Global Manufacturing PMI Flash – Tuesday The PMI data will highlight the contrasting conditions in US and Eurozone manufacturing. In the US, markets will focus on the “prices paid” component, as rising input costs could signal persistent inflationary pressure and support the Fed’s decision to keep rates unchanged. In the Eurozone, attention will turn to how higher energy costs are affecting industrial output and profit margins. |
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Bank of Japan June Meeting Summary of Opinions – Wednesday The Summary of Opinions will provide insight into the BoJ’s policy discussions. With the yen under pressure and import-driven inflation remaining elevated, investors will watch for signals on bond purchase tapering and future rate hikes. A more hawkish stance could strengthen expectations for policy normalisation and support the yen. |
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Nvidia Annual General Meeting & US May Core PCE (YoY) – Thursday Nvidia’s annual general meeting could influence global tech sentiment, with investors watching its outlook on AI investment and capital expenditure trends. Meanwhile, the Core PCE Price Index remains the Fed’s preferred inflation gauge. A stronger-than-expected reading could push Treasury yields and the US dollar higher. With both events occurring on the same day, market volatility may intensify. |
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