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.
The morning after the day before and financial markets continue to mull over the ECB's decision to finally end net new asset purchases and, from July, start to 'normalize' interest rates with a 25bps hike to -025%.
Friday's European data gets underway at 0700 with the release of Norwegian inflation data at 0700BST, followed by final Spanish May CPI and then Italian April industrial production.
Norway CPI is seen rising 5.7% y/y, picking up from 5.4% in April, thus giving further tightening ammunition to the Norges Bank ahead of its June 20 meeting.
Spanish final May HICP is expected to be confirmed at 8.5% y/y, with CPI coming in at 8.7% y/y.
Italian April industrial production, expected at 0900BST, will likely show a contraction of 1.1% m/m and a modest 0.1% contraction y/y.
In the UK, the latest BOE/Ipsos inflation expectations survey will be closely watched, with analysts eyeing any further increase in 12 month expectations from the 3 month ago reading of 4.3%.
In The the US, the main release will be the publication of the May CPI data at 1330BST, with economists expecting an unchanged y/y rate of 8.3% and a modest slowing of the core rate to 5.9%. MNI's in depth look at the US inflation data is available now.
Canadian data released at the same time includes the Labor Force survey and capacity utilization.
Late US data sees the preliminary Michigan consumer sentiment survey at 1500BST and the Treasury Budget statement at 2000BST.
With the BOE and Fed in blackout periods, there are few scheduled policymaker speeches. However, plenty of ad hoc appearances by ECB governing council members can be expected after the policy meeting Thursday.
| Date | GMT/Local | Impact | Flag | Country | Event |
| 10/06/2022 | 0600/0800 | * |  | NO | CPI Norway |
| 10/06/2022 | 0700/0900 | *** |  | ES | HICP (f) |
| 10/06/2022 | 0800/1000 | * |  | IT | Industrial Production |
| 10/06/2022 | 0830/0930 | ** |  | UK | Bank of England/TNS Inflation Attitudes Survey |
| 10/06/2022 | 1230/0830 | *** |  | CA | Labour Force Survey |
| 10/06/2022 | 1230/0830 | *** |  | US | CPI |
| 10/06/2022 | 1345/1545 |  | EU | ECB Lagarde Message for Goethe Uni Law & Finance Institute | |
| 10/06/2022 | 1400/1000 | *** | | US | University of Michigan Sentiment Index (p) |
| 10/06/2022 | 1400/1000 | * | | US | Services Revenues |
| 10/06/2022 | 1600/1200 | *** | | US | USDA Crop Estimates - WASDE |
| 10/06/2022 | 1800/1400 | ** | | US | Treasury Budget |
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.