Week Ahead – Top 3 Events This Week

Date: June 6th– June 10th

Last week, the U.S jobs report was seen as “strong”. This meant monetary policy tightening all over the world can continue, which is why stocks were down. Here is what to watch out for this week.

Inflation Day Looms

“Inflation Day” is just around the corner! On Friday, the U.S Will release its Consumer Price Index Report, the primary measure of inflation. If the figure comes in at 8.3% as expected, it will make the case of inflation peaking stronger.

This could provide much-needed relief to suffering risk assets at the moment. This is the main event of the week.

European Central Bank

The Eurozone is hitting record highs for inflation at the moment, and this is escalating the urgency to discuss interest rate hikes. Analysts are expecting hikes to begin in Europe from Q3.

This meeting is on Thursday, so make sure you follow the market reaction carefully. Can EURUSD gain as a result of this？

Oil to Dampen the Mood

Despite OPEC+ announcing a 50% production increase, crude oil prices march on. The price of crude oil is now seriously threatening to exceed $120 per barrel. The focus now shifts to the possibility of U.S. President Joe Biden meeting Saudi Crown Prince Mohammed bin Salman amid human rights concerns.

Everyone at Zenfinex wishes you the best trading week. If you would like to know more about the products we offer, feel free to visit www.zenfinex.com.

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