The Week Ahead June 22-26

Monday, June 22:

  • Euro-area leaders are scheduled to hold an emergency summit in Brussels to discuss Greece after finance ministers failed to reach an agreement on terms for unlocking aid before the country’s current bailout program expires on June 30.
  • Iran nuclear negotiations. Talks enter their final phase as diplomats from six world powers and Iran meet in Vienna to seek a nuclear agreement by a June 30 deadline.
  • Purchases of previously owned U.S. homes probably rose in May, helped by employment gains and cheap borrowing costs, after unexpectedly declining a month earlier.

Tuesday, June 23:

  • Orders for U.S. durable goods probably fell in May for a second month as demand for commercial aircraft cooled, according to economists in a Bloomberg survey.
  • Sales of U.S. new homes probably declined in May after an April increase, highlighting the uneven recovery in housing, economists forecast the Commerce Department will report.
  • ECONOMY: U.S. FHFA house price index (April), Markit U.S. manufacturing index (June preliminary), Richmond Fed manufacturing (June), euro-area PMIs (June), Italy retail sales (April), South Africa current-account balance (first quarter), South Africa leading indicator (April).

Wednesday, June 24:

  • NATO talks. North Atlantic Treaty Organization defense ministers meet in Brussels for two days to discuss the reinforcement of eastern Europe in response to Russian threats.
  • The U.S. Energy Information Administration releases its U.S. oil inventory report.
  • ECONOMY: U.S. MBA mortgage applications (weekly), U.S. GDP (1Q, third estimate), Mexico bi-weekly CPI, Taiwan industrial production (May), German IFO business confidence (June), Turkey capacity utilization (June), Czech confidence (June), Poland unemployment (May).

Thursday, June 25:

  • Personal spending in May probably climbed in May, bolstered by job and income gains, economists estimate the Commerce Department’s report will show.
  • The U.S. Energy Information Administration releases its natural gas inventory report.
  • ECONOMY: U.S. jobless claims (weekly), U.S. Bloomberg consumer comfort (weekly), Markit U.S. services index (June, preliminary), Kansas City Fed manufacturing (June), Brazil unemployment rate (May), Taiwan money supply (May), Hong Kong trade data (May), Austria industrial production (April), South Africa PPI (May).
  • Misc: Basketball. The Minnesota Timberwolves, Los Angeles Lakers and Philadelphia 76ers have the first three picks in the National Basketball Association draft, followed by the New York Knicks at the Barclays Center in Brooklyn.

Friday, June 26:

  •  An unmanned Falcon 9 rocket from SpaceX is scheduled to launch at 11:09 from Cape Canaveral, Florida, in the company’s seventh resupply mission for the National Aeronautics and Space Administration to the International Space Station.
  • ECONOMY: Michigan consumer sentiment (June final), Argentina GDP (first quarter), Japan consumer price data (May), Japan unemployment (May), France consumer confidence (June), Hungary unemployment rate (May).

Source

-Syfur

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Categories: Capital Markets

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