CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
May 31, 2022
April's PMI printed at 55.4. The consensus forecast for May is 54.5.
Possible influence: Volatile US Dollar, Gold and US Stocks
The central bank will meet to discuss interest rates and policy. The current interest rate is 1% after rates were increased by 0.5% at the previous meeting on April 13th.
Possible influence: Volatile Canadian dollar
OPEC+ is scheduled to hold their next meeting on June 2nd. OPEC+ is made up of the original OPEC cartel plus Russia. The group is expected to increase oil production by 430,000 barrels per day per month, according to their long-term schedule.
Possible influence: Volatile Oil and Energy
The Unemployment rate for April was 3.6%. It is expected to drop to 3.6% for May. Non-Farm Payrolls are expected to fall to 301,000 for May, lower than April’s figure of 406,000.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Amazon announced a 20 to 1 stock split earlier in the year that is effective June 6th.
Possible Influence: Amazon shares
The Reserve Bank of Australia will meet to decide about interest rates. The rate is currently 0.10%. It was last changed at their November 2020 meeting when it was lowered 15 basis points.
Possible Influence: Volatile AUD
The ECB will meet to set interest rates and to discuss policy on June 9th. The Eurozone deposit rate is currently at -0.50% and the central bank has not followed other major central banks by raising rates yet.
Possible Influence: Volatile Euro and European stocks
Core CPI (excluding food and energy) was 6.2%, Year-over-Year in April. May’s Core CPI is expected to fall to 6.0%, Year-over-Year. Top-line CPI for April came in at 0.6%, Month-over-Month. The forecast for Top-line CPI for May is 0.5%, Month-over-Month.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Retail Sales rose 0.9%, Month-over-Month, in April. Retail Sales for May are forecast to rise 0.9%, Month-over-Month.
Possible Influence: Volatile US Dollar, Gold and US Stocks
The U.S. Central Bank’s 2-day meeting concludes on June 15th. They will announce their latest interest rate decision and hold a press conference after to discuss their outlook moving forward as well as their plans for adjustments to their balance sheet. The current rate is 1%. They raised it 50 basis points at their last meeting on May 4th.
Possible Influence: Volatile US Dollar, Gold and US Stocks
The Monetary Policy Committee of the Bank of England will meet to decide on interest rates. The current rate is 1%. It was raised 25 basis points at their last meeting on May 5th.
Possible Influence: Volatile British Pound and British stocks
There are only a handful of earnings releases on the calendar in June. They include Weibo, Nio, Adobe, Federal Express, Nike, and Micron.
Possible Influence: Volatile US Stocks and Indices
The G7 Leaders' Summit 2022 is expected to take place in June 2022 in the Bavarian Alps. The seven G7 countries are Canada, France, Germany, Italy, Japan, the UK and the US. Represented jointly by the President of the European Council and the President of the European Commission, the EU participates in all discussions as a guest. The leaders will discuss economic policy and global affairs.
Possible Influence: Volatile US Dollar, Gold and US Stocks
The War in Ukraine continues in June, both on the battlefield and economically. The peace talks are currently at a standstill. At the time of this writing Russia has a firm hold on the Donbass and Luhansk regions of Ukraine in the Eastern part of Ukraine. At the end of May the United States President Joseph Biden signed a bill authorizing another $40 billion in military and economic aid to Ukraine that will start flowing into Ukraine in June. On the sanctions front, the EU just approved its 6th round of sanctions which will reduce the EU’s imports of Russian oil by 90%. Russia has cut off several European countries' Natural Gas supplies including Poland, Finland, and Bulgaria, Denmark and The Netherlands.
Possible Influence: Volatile US Dollar, Natural Gas, Volatile Russian Ruble, Gold, Oil, Palladium, and US Stocks
