On Wednesday, the markets are awaiting the release of a number of important economic data, led by the interest decision issued by the Bank of Canada during its June meeting. Besides, some important economic data is scheduled to be released in New Zealand, the United States and China, which is set to strongly influence the movements of the markets.
Tomorrow’s most important data
Preliminary reading of the New Zealand business confidence index
Consumer prices in China
Prices of producers in China
Trade balance in Germany
Bank of Canada interest rate decision
Bank of Canada interest statement
US oil stocks
US 10-year bond auction
main events
Bank of Canada decision
Tomorrow, the Monetary Policy Committee of the Bank of Canada is scheduled to hold its meeting during the month of June, and the committee will issue a rate decision at 2:00 pm GMT, and this will be followed by the release of the interest statement. Market expectations indicate that the bank will keep the interest rate at 0.25% unchanged, and maintain its policy during the current meeting. The focus during tomorrow’s trading will be on the interest statement to clarify the economic situation and monetary policy of the bank.
US oil stocks
The Bank of Canada’s decision will be followed by the US Energy Administration’s announcement of oil inventories data in the United States during the last week, and market expectations indicate that the index will record a decline of about 3.3 million barrels during that period, after it fell by 5.1 million barrels, and these expectations reflect an improvement in demand levels. on oil. In this context, the Secretary-General of the Organization of the Petroleum Exporting Countries stated that oil inventories are expected to decline strongly in the coming months, which reflects an improvement in demand rates.
Other economic data
During the early hours of tomorrow morning, all eyes will be on New Zealand and China. The preliminary reading of the business confidence index is scheduled to be released in June, and it will be followed by the release of the consumer price index in China on an annual basis, and according to expectations, the index is likely to rise by 1.6% during May, after the index recorded a rise of 0.9% during the month of April. the past.
