This Week's Top 4 Events

22 June 2020

    Market Events - 4 Key Things to Watch This Week.

     

    1. Coronavirus Infections on the Rise

     

    The US reported more than 30,000 additional coronavirus cases on Friday, the highest number of single-day infections since May 1st. Nevada, Florida, California and Arizona have also reported record-high infections over the course of 24 hours.

     

    The Fed had warned that the lack of containment could lead to more prolonged shut-downs, causing the fairly positive job data trend to reverse. 

     

     2. IMF Economic Forecast to be Worse than Initially Claimed

     

    In its global economic forecast this week, the IMF is expected to say the 2020 global recession will be worse than it estimated in its previous forecast in April.

     

     3. Initial Jobless Claims, Durable Goods, Housing Data

     

    This week, investors are expected to focus on home sales for May, as well as durable goods orders (a slight rebound is expected). The main event on the agenda of the week is still, however, the initial jobless claims report as an indicator of general economic recovery.

     

     4. Eurozone Consumer Confidence & PMI, UK PMI

     

    The consumer confidence report for the Eurozone to be released today is to be kept an eye on, to see how customers are responding to the gradual economies’ reopening. European PMI data for June is also on the agenda, following May’s report demonstrating a slightly more positive picture, but still showing the manufacturing and service sectors in hot water.

     

    The UK PMI release is also expected to remain quite below the growth level.


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