Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Tuesday is again a relatively quiet data day, with a few second/third tier data points on the schedule.
Eurozone Current Account (0900 BST)
The ECB’s current account deficit is projected to slow moderately in April from the EUR-16bln recorded in March.
UK CBI Industrial Trends (1100 BST)
Selling prices are set to remain elevated around the 75-point mark, whilst total orders are seen slipping six points to 20 in the June survey. This would bring orders back to the February mark, as investment plans are being recalibrated to account for higher interest rates and cost pressures intensify.
US Philadelphia Fed Nonmanufacturing Survey (1330 BST)
The June Non-manufacturing Philly Fed survey will be watched for hints of declining activity levels following the May survey which saw a 5-point fall to 22.8 as general activity indexes declined for the second consecutive month, weakening outlooks whilst the prices paid index soared at a record high.
Canada Retail Sales (1330 BST)
Retail sales for the April period will have likely grown 0.8% m/m, according to preliminary estimates. This follows flatlining sales at 0% month-on-month growth seen in March, largely due to a significant slump in auto sales (retail sales ex. Auto saw a healthy 2.4% growth in March). Soaring gas prices worsened by the Ukraine war have been a key upwards driver, however, the worsened semiconductor shortage has been hitting auto sales hard, with vehicles and parts sales estimated down 6.4% m/m.
US Existing Home Sales (1500 BST)
Existing home sales are set to slow another 210 million to 5.40 million in May in the fourth month of decline, following April’s low, at June 2020 levels. With mortgage rates jumping to 30-year highs, the US housing market is cooling fast. With the Fed hiking 75bp last week, the housing market is set to weaken further.
Tuesday’s key policymaker appearances include the BOE’s Huw Pill, and Silvana Tenreyro in the morning, followed by Cleveland Fed's Loretta Mester and Richmond Fed's Tom Barkin in the afternoon.
| Date | GMT/Local | Impact | Flag | Country | Event |
| 21/06/2022 | 0130/1130 |  | AU | RBA Minutes June Meeting | |
| 21/06/2022 | 0715/0815 |  | UK | BOE Pill at Institute of Accountants Economic Summit | |
| 21/06/2022 | 0800/1000 | ** |  | EU | EZ Current Account |
| 21/06/2022 | 1000/1100 | ** | | UK | CBI Industrial Trends |
| 21/06/2022 | 1215/1315 | | UK | BOE Tenreyro Seminar at Goethe University | |
| 21/06/2022 | 1230/0830 | ** |  | CA | Retail Trade |
| 21/06/2022 | 1230/0830 | ** |  | US | Philadelphia Fed Nonmanufacturing Index |
| 21/06/2022 | 1400/1000 | *** | | US | NAR existing home sales |
| 21/06/2022 | 1530/1130 | * | | US | US Treasury Auction Result for 26 Week Bill |
| 21/06/2022 | 1530/1130 | * | | US | US Treasury Auction Result for 13 Week Bill |
| 21/06/2022 | 1600/1200 | | US | Cleveland Fed's Loretta Mester | |
| 21/06/2022 | 1930/1530 | | US | Richmond Fed's Tom Barkin |
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.