Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

What are the main events for today?

June 25, 2024 at 07:30AM
Today there’s no notable event in the European session and all the action will take place in the American session as we get to see the Canadian CPI data and the US Consumer Confidence report.

12:30 GMT/08:30 ET – Canada May CPI

The Canadian CPI Y/Y is expected at 2.6%
vs. 2.7% prior, while the M/M measure is seen at 0.3% vs. 0.5% prior. The
Trimmed Mean CPI Y/Y is expected at 2.8% vs. 2.9% prior, while the Median CPI
Y/Y is seen at 2.6% vs. 2.6% prior.

The last
report showed the underlying inflation
measures falling back inside the BoC’s 1-3% target band which gave the central
bank the green light to deliver the first
rate cut. The market sees a 65% chance of
another rate cut in July (55.6 bps by the end of the year) but that will depend on the CPI data today.

14:00 GMT/10:00 ET – US June Consumer Confidence

The US Consumer Confidence is expected at
100 vs. 102 prior. The last
report showed confidence improving after
three consecutive months of decline. The Chief Economists at The Conference
Board highlighted that “the strong labour market continued to bolster
consumers’ overall assessment of the present situation”.

Moreover, “looking ahead, fewer consumers
expected deterioration in future business conditions, job availability, and
income”. The overall confidence gauge remained within the relatively narrow
range it has been hovering in for more than two years. The Present
Situation Index will be something to watch given the recent misses in the US
Jobless Claims as that’s generally a leading indicator
for the unemployment rate.

Central bank speakers:

11:00 GMT/07:00 ET – Fed’s Bowman (hawk – voter)

16:00 GMT/12:00 ET – Fed’s Cook (neutral – voter)

This article was written by Giuseppe Dellamotta at www.forexlive.com.

What are the main events for today?