Wednesday preview: US Fed decision, CPI on traders' minds

11th Jun 2024 13:19

(Sharecast News) - Will the US Federal Reserve cut interest rates three times by the end of 2024? Or only twice and perhaps even less?

While no change rates is by any means anticipated for Wednesday's meeting, at 1800 BST the Federal Reserve will also release its latest macroeconomic projections.

Those may yield clues as to the answer to the above question as will Fed chair Jerome Powell's post-meeting press conference.

Worth noting, the US economy and, in particular, its job market has outperformed expectations over the last 18 months or so, possibly not least helped by the positive supply shock from very high levels of immigration.

Against that backdrop, at 1230 BST the Department of Labor is expected to announce the smallest year-to-date month-on-month gain in consumer prices of just 0.1%.

All else equal, that would keep the annual rate of increase unchanged versus the month before at 3.5%.

Ahead of those CPI figures, before the start of trading in London the Office for National Statistics will release its estimate of UK gross domestic product growth for April.

And overnight China's National Bureau of Statistics will publish consumer and producer price numbers for May.

Wednesday 12 June

INTERIMS

Driver Group, RWS Holdings, Safestore Holdings

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Price Index (GER) (07:00)

Consumer Price Index (US) (13:30)

Crude Oil Inventories (US) (15:30)

MBA Mortgage Applications (US) (12:00)

FINALS

Castings, Molten Ventures

ANNUAL REPORT

Brighton Pier Group (The)

AGMS

Advanced Medical Solutions Group, Alina Holdings, Anemoi International Ltd NPV (DI), BioPharma Credit , Brighton Pier Group (The), Destiny Pharma , Digital 9 Infrastructure NPV, EPE Special Opportunities Limited (DI), Foresight Solar Fund Limited, IP Group, NB Private Equity Partners Ltd., Star Energy Group, Thalassa Holdings Ltd. (DI)

TRADING ANNOUNCEMENTS

Frontier Developments

UK ECONOMIC ANNOUNCEMENTS

Balance of Trade (07:00)

Gross Domestic Product (07:00)

Index of Services (07:00)

Industrial Production (07:00)

Manufacturing Production (07:00)

FINAL DIVIDEND PAYMENT DATE

Compagnie de St-Gobain SA, Hiscox Limited (DI), Property Franchise Group