On June 7, the important macro data release nodes for next week are as follows:
Monday 22:00, US April Wholesale Sales MoM;
Monday 23:00, US May New York Fed 1-Year Inflation Expectations;
Wednesday 20:30, US May CPI data;
Wednesday 22:30, US EIA crude oil inventory, Cushing crude oil inventory, strategic petroleum reserve inventory as of the week ending June 6.
Thursday 20:30, Initial jobless claims in the US for the week ending June 7, and US May PPI;
Friday 22:00, U.S. June one-year inflation rate expectation preliminary value, U.S. June University of Michigan Consumer Confidence Index preliminary value.
Next Wednesday's U.S. CPI report for May will test the market's optimism about a rate cut, as it could show a halt in the near-term downward trend in inflation. According to the Cleveland Fed's Nowcast model forecast, headline CPI is expected to rise 2.4% year-over-year in May, up from 2.3% in the previous month; Core CPI is expected to rise 2.8% year-on-year, unchanged from the previous month. Analysts expect three-month annualized core goods inflation to peak (4%-5%) early this fall, slightly lower and delayed than predicted before the "reciprocal tariffs" were suspended on 8 May.
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The US May CPI is approaching, inflation trends may stagnate, and a comprehensive overview of macro data next week.
On June 7, the important macro data release nodes for next week are as follows:
Monday 22:00, US April Wholesale Sales MoM; Monday 23:00, US May New York Fed 1-Year Inflation Expectations; Wednesday 20:30, US May CPI data; Wednesday 22:30, US EIA crude oil inventory, Cushing crude oil inventory, strategic petroleum reserve inventory as of the week ending June 6. Thursday 20:30, Initial jobless claims in the US for the week ending June 7, and US May PPI; Friday 22:00, U.S. June one-year inflation rate expectation preliminary value, U.S. June University of Michigan Consumer Confidence Index preliminary value.
Next Wednesday's U.S. CPI report for May will test the market's optimism about a rate cut, as it could show a halt in the near-term downward trend in inflation. According to the Cleveland Fed's Nowcast model forecast, headline CPI is expected to rise 2.4% year-over-year in May, up from 2.3% in the previous month; Core CPI is expected to rise 2.8% year-on-year, unchanged from the previous month. Analysts expect three-month annualized core goods inflation to peak (4%-5%) early this fall, slightly lower and delayed than predicted before the "reciprocal tariffs" were suspended on 8 May.