By David Papier

Last week was business as usual as we witnessed updates from the two of the most influential Central Banks. From the US Federal Reserve, we saw a fairly hawkish tone continuing on the expected rate hike march. The Euro, however, suffered one of its worse declines in six months against the greenback, after the European Central Bank vowed not to raise Eurozone interest rates before the middle of next year.

Aussie_dollars

Moving into the week ahead we kick off with the minutes from the latest Royal Bank of Australia meeting taking place early Tuesday, and The Bank of Japan posting their minutes overnight between Tuesday and Wednesday. Traders will surely be watching the Australian Dollar and Japanese Yen as we move into the middle of the week.

Bank_of_England_building

Thursday will arguably be the busiest day as the Bank of England's interest rate decision will be revealed to the markets. No change is currently expected, however, the devil will be in the detail of the minutes which will be scrutinised for any indications of future rate hikes and the outcome of the vote. Last time we saw 7 of the 9 members of the Bank’s Monetary Policy Comity vote to leave rates unchanged, with only 2 voting for a hike. This should be watched very carefully as any change in the votes could see Sterling move substantially, which could also influence the FTSE 100 index.

Rounding off the week, it’s over to Canada for the Retail sales and Consumer Price Index (inflation) data. These reports will give insight into the strength of the Canadian economy, so the Canadian Dollar might be worth keeping an eye on as we close down the week.


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Economic Calendar

(All times are in BST)



Monday, 18th June

00:50 JPN Trade Balance Exports YoY
00:50 JPN Trade Balance Imports YoY
00:50 JPN Trade Balance

Tuesday, 19th June

13:30 US Housing Starts MoM

Wednesday, 20th June

15:00 US Existing Home Sales Total Sales
17:00 EIA Crude Oil Stocks Net Change
23:45 NZD GDP Expenditure QoQ
23:45 NZD GDP Production QoQ

Thursday, 21st June

07:45 FR Business Sentiment Index
08:30 CHF Target LIBOR Rate
12:00 UK BOE Interest Rate Announcement
13:30 US Unemployment Claims WoW
15:00 EU Consumer Confidence Index

Friday, 22nd June

00:30 JPN CPI National YoY
00:30 JPN CPI National Core YoY
01:30 PMI Flash Estimate PMI Manufacturing
07:45 FR GDP Final QoQ
09:00 EU PMI Flash Estimate Composite
09:00 EU PMI Flash Estimate Services
13:30 CAD CPI Core MoM
13:30 CAD CPI Core YoY
13:30 CAD Retail Sales MoM



Corporate Calendar



Monday, 18th June

No High Impact Results

Tuesday, 19th June

Ashtead Group PlC – Final Result
FedEx Corp –Earnings Announcement

Wednesday, 20th June

Berkeley Group Holdings PLC –Final Result
Micron Technology Inc – Earnings Announcement

Thursday, 21st June

Dixons Carphone –Final Result
Saga –Trading Statement

Ex-dividend 

Amati VCT 2 PLC [AT2] (5.25 p)
Braemar Shipping Services PLC [BMS] (10 p)
Big Yellow Group Plc [BYG] (12.2 p)
Big Yellow Group Plc [BYG] (3.3 p)
Compass Group PLC [CPG] (12.3 p)
Edinburgh Investment Trust Plc (the) [EDIN] (9.2 p)
Experian PLC [EXPN] (0.31 USD)
First Derivatives PLC [FDP] (17 p)
Fuller Smith & Turner PLC [FSTA] (12 p)
Games Workshop Group PLC [GAW] (30 p)
Gooch & Housego PLC [GHH] (4.2 p)
Henderson High Income Trust Plc [HHI] (2.38 p)
ICG Enterprise Trust Plc [ICGT] (6 p)
KCOM Group PLC [KCOM] (4 p)
Land Securities Group Plc [LAND] (14.65 p)
Mercantile Investment Trust PLC [MRC] (1.25 p)
MS International PLC [MSI] (6.5 p)
MITIE Group PLC [MTO] (2.67 p)
NewRiver Retail Ltd [NRR] (5.4 p)
Northern 3 Vct Plc [NTN] (3.5 p)
Northern 2 Vct Plc [NTV] (3.5 p)
Octopus Aim VCT Plc [OOA] (3 p)
PayPoint PLC [PAY] (24.5 p)
PayPoint PLC [PAY] (30.6 p)
Proven Growth & Income Vct Plc [PGOO] (2 p)
Proven Vct Plc [PVN] (2.5 p)
Tate & Lyle PLC [TATE] (20.3 p)
TR Property Investment Trust Plc [TRY] (7.55 p)
Tex Holdings PLC [TXH] (6 p)
United Utilities Group PLC [UU.] (26.49 p)
Vertu Motors PLC [VTU] (0.95 p)
Weiss Korea Opportunity Fund [WKOF]

Friday 22nd May

Blackberry Limited – Earnings Announcement

Sources: Bloomberg/Companies

 

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