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MNI GLOBAL MORNING BRIEFING: Consumer Sentiment Seen Slowing

Tuesday throws up a day of largely second tier data, although consumer sentiment data on both sides of the Atlantic will be closely watched.

The calendar gets underway at 0700BST, with the release of the Swedish retail sales data and the German GFK consumer confidence data. The GfK survey is expected to edge lower again in June, as sentiment dips across the continent as rising prices weigh on the consumer. The headline index is expected to slip to -26.5 from -26 in May.

French consumer sentiment (due at 0745BST) is also expected to dip, as analysts point to a slowdown to 84 from 86 previously.

US data also focused on consumer

US dataincludes the advanced goods trade, the Redbook Retail sales survey, Case-Schiller home prices and the FHFA monthly house price index.

The main release is due at 1500BST, when the June Consumer Confidence survey is published.

Analysts are looking for a sharp slowdoen to 100 from 106.4, as soaring inflation and, in particular, record high gas/petrol prices are starting to impact consumers ability to spend.

Also due at 1500BST is the Richmond Fed manufacturing survey.

The are plenty of policymakers speaking Tuesday, not least as the ECB's Sintra forum gets underway. Amongst the speakers are ECB President Christine Lagarde, Executive Board members Philip Lane, Frank Elderson and Philip Lane. Richmond Fed President Tom Barkin and San Francisco Fed head Mary Daly are also due to speak.


DateGMT/LocalImpactFlagCountryEvent
28/06/20220600/0800*DE GFK Consumer Climate
28/06/20220600/0800**SE Retail Sales
28/06/20220645/0845**FR Consumer Sentiment
28/06/20220800/1000EUECB Lagarde Intro at ECB Forum
28/06/20220830/1030EUECB Lane on Globalisation & Labour Markets at ECB Forum
28/06/20220900/1000*UK Index Linked Gilt Outright Auction Result
28/06/20220930/1130EUECB Elderson on Energy Prices & Sources at ECB Forum
28/06/20221100/1300EUECB Panetta on Digital Currencies at ECB Forum
28/06/20221100/1200UKBOE Cunliffe Panels ECB Forum
28/06/20221200/0800US Richmond Fed President Tom Barkin
28/06/20221230/0830**US Advance Trade, Advance Business Inventories
28/06/20221255/0855**US Redbook Retail Sales Index
28/06/20221300/0900**US S&P Case-Shiller Home Price Index
28/06/20221300/0900**US FHFA Home Price Index
28/06/20221400/1000***US Conference Board Consumer Confidence
28/06/20221400/1000**US Richmond Fed Survey
28/06/20221630/1230US San Francisco Fed's Mary Daly
28/06/20221700/1300**US US Treasury Auction Result for 7 Year Note
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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