Financial markets begin the new week under intense pressure amid the ongoing exchange of fire between Israel and Iran. Investor caution is especially visible in the forex market, where currencies are trading within relatively narrow ranges. U.S. and European index futures are up about 0.2%–0.3%, but this moderate optimism could easily be disrupted by fresh headlines from the Middle East.
While the Israel-Iran conflict will remain a key focus, Monday also brings several important data releases relevant to upcoming interest rate decisions in major economies (including inflation in Switzerland and wage data in the Eurozone).
Economic Calendar for Today
- 07:30 BST – Switzerland – May Inflation Data:
- PPI (m/m): Forecast 0.1%; Previous 0.1%
- PPI (y/y): Previous -0.5%
- 08:00 BST – Germany – Speech by Bundesbank President Nagel
- 10:00 BST – Eurozone – Labour Market Data:
- Eurozone wages (Q1): Previous 4.10% (y/y)
- 10:00 BST – Eurozone – Labour Cost Index (Q1):
- Forecast 3.20% (y/y); Previous 3.70% (y/y)
- 12:00 BST – United States – OPEC Monthly Report
- 13:00 BST – Poland – May Inflation Data:
- Core CPI (y/y): Forecast 3.2%; Previous 3.4%
- 13:15 BST – Canada – May Housing Starts:
- Forecast 248.0K; Previous 278.6K
- 13:30 BST – United States – June Industrial Production:
- NY Empire State Manufacturing Index: Forecast -5.90; Previous -9.20
- 17:00 BST – Germany – Speech by Bundesbank President Nagel
- 18:00 BST – United States – 20-Year Bond Auction:
- Previous yield: 5.104%
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