- Gross Domestic Product (JPY, GMT 23:50) – Gross Domestic Product should impede in Q1 and reveal headline growth of -4.8% y/y and -1.2% q/q, with external demand, capital expenditure and private consumption rising.
Tuesday – 08 June 2021
- Economic Sentiment (EUR, GMT 09:00) – German December ZEW economic sentiment is seen to have declined at 35 compared to 39 in November.
- Gross Domestic Product (EUR, GMT 10:00) – Gross Domestic Product is seen stable at 12.6% growth in Q3 after the German Q3 GDP growth, released November 24, which was revised up to 8.5% (q/q, sa) in the final reading, from the 8.2% reported initially. It was an impressive bounce back from Q2’s -9.8% plunge, but the performance was not sufficient to compensate for the contraction that was triggered by lockdowns earlier in the year.
Wednesday – 09 June 2021
- Consumer Price Index (CNY, GMT 01:30) – China’s recovery appears to be broadening, as a key manufacturing sentiment measure improved to its best level in three years during November while a non-manufacturing sentiment measure saw its best reading in eight years during November. CPI is expected to accelerate to a 0.8% y/y pace in November following the 0.5% growth last month.
- Interest Rate Decision and Statement (CAD, GMT 15:00) – The reports so far are consistent with the ongoing recovery in Canada’s economy since the spring shutdown. Of course, the gain in November employment was the smallest monthly increase since hiring resumed in May, reflecting well anticipated moderation to a more sustainable pace as the reopening pop faded. However, the jobs and trade reports are consistent with no change in the BoC’s 0.25% rate setting expected at next week’s announcement, alongside a reiteration of the pledge to hold rates at 0.25% into 2023.
Thursday – 10 June 2021
Friday – 11 June 2021
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Andria Pichidi
Market Analyst
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