At 12:00 GMT, German Harmonised Index of Consumer Prices (YoY) (May) is expected to come in at 1.8% against a prior reading of 1.4%. Harmonised Index of Consumer Prices (MoM) (May) is expected to be 0.3% from a previous -0.1%. This data is expected to beat the previous reading on a yearly basis with a beat in the monthly reading expected to bring the data back above zero. EUR crosses can be moved by this data.
At 13:30 GMT US Gross Domestic Product Annualized (Q1) is expected to be 2.3% from 2.3% previously. This data is holding just above 2% although it has slipped in the last two quarters from 3.3%. Gross Domestic Product Price Index (Q1) is expected to be 2% from 2% previously. This dat has dropped back to 2% after rising above that level for the past two quarters. Personal Consumption Expenditures Prices (QoQ) (Q1) is expected to come in at 2.7% from 2.7% previously. Core Personal Consumption Expenditures Prices (QoQ) (Q1) is expected to be 2.5% from 2.5% previously. Personal consumption data has been rising steadily as Americans spend more on durable goods, consumer products and services. USD crosses may be heavily traded as a result of this data.
At 21:00 GMT, Bank of Canada Interest Rate Decision and Rate Statement will be released. The Rate Decision is expected to remain at 1.25% after the Bank hike rates in January. The Rate Statement will provide some key insights into the thinking behind today’s decision and future policy. CAD crosses can see spikes in volatility as a result.
