Upcoming Economic Events | 14th June, 2022

In this blog 📝, you will find the most recommended economic events happening this week that we believe you should keep your eye on 👁️, as each one has an implication to the markets. Let's have a look at what we have coming up…

The Producer Price Index Report

• Date & Time: Tuesday 14th June, 3.30 pm EST
• Influenced Assets: USD & global markets
• Previous Figures: 0.5%
• Prediction: 0.8%

Why Our Traders Care: This report measures the change in price of goods and services and is a leading indicator of consumer inflation! The more producers charge for their goods & services, the more costs are usually passed on to the consumer. We have a forecast of another increase, following suit of the last 2 months, indicating that as prices are going up, consumers/investors will have to focus on saving more thus not being able to put down and invest in riskier assets in the crypto or equities market.

Retail Sales M/M

• Date & Time: Wednesday 15th June, 3.30 pm EST
• Influenced Assets: USD and Global Markets
• Previous Figures: 0.6%
• Prediction: 0.7%

Why Our Traders Care: This report is a gauge of consumer spending which accounts for the majority of overall economic activity. Once the actual figure is released and is greater than what is forecasted, that is good for the currency (in this case the US dollar). However, not so bullish for crypto investors or HODL'ers to be more specific. Traders can benefit from the result of this report.

The President of the European Central Bank, Lagarde Speaks

• Date & Time: Wednesday 15th June, 7.20 pm EST
• Influenced Assets: EUR
• Previous Figures: N/A
• Prediction: N/A

Why Our Traders Care: As Christine Lagarde is President of the European Central Bank which controls short-term interest rates in Europe, she has more influence over the value of the Euro than any other person. Traders scrutinise her public engagements as they are often used to drop subtle clues regarding future monetary policy, which can be traded on her remarks. Forex traders especially can benefit here.

FOMC Statement and Economic Projections

• Date & Time: Wednesday 15th June, 9-9.30 pm EST
• Influenced Assets: USD and Global Markets
• Previous Figures: N/A
• Prediction: N/A

Why Our Traders Care: This is the most awaited event this week that all traders, investors and institutions are waiting for! This meeting which lasts 2 days and is then summarised, is how the FOMC communicates about monetary policy and economic outlook. A series of recent inflation reports are likely to lead the Federal Reserve to consider a 0.75 percentage point rate hike this week. This means ultimately more saving and less spending (less investing in riskier assets!)

Federal Reserve Chair Jerome Powell Speaks

• Date & Time: Friday 17th June, 3.45 pm EST
• Influenced Assets: USD and Global Markets
• Previous Figures: N/A
• Prediction: N/A

Why Our Traders Care: Just as the speech from the President of the ECB on the previous Wednesday, Powell is head of the central bank which also controls short-term interest rates in the states, and he has more influence over the nation's currency value than any other person. Traders here will also scrutinise his public engagements as they are often used to drop subtle clues regarding future monetary policy, which can be traded on his remarks. Forex traders especially can benefit here, but of course, as the US dollar is affected, so is Bitcoin due to their negative correlation.

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