The Day Ahead

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Friday, June 27 – Market Focus

A packed session lies ahead with key inflation, growth, and sentiment data releases from major global economies, alongside speeches from central bank officials that could shape rate expectations.

United States:
Markets will closely watch the May PCE inflation report—the Fed’s preferred gauge of inflation—alongside personal income and spending figures. A cooler-than-expected core PCE could fuel speculation of rate cuts later this year. Also on tap: Kansas City Fed's June services activity, providing a regional pulse on service-sector momentum.

China:
May industrial profits will offer further clarity on the pace of China's manufacturing rebound, with implications for commodity-linked assets and Asian market sentiment.

Japan:
A comprehensive data dump includes June Tokyo CPI—a key inflation proxy—alongside the May jobless rate, job-to-applicant ratio, and retail sales. These will be crucial for BOJ watchers amid ongoing policy normalization debates.

Europe:
France releases a triple dose of data—June CPI, May PPI, and consumer spending—while Italy publishes June consumer and business sentiment figures, plus May PPI and April industrial sales. At the Eurozone level, June economic confidence will help assess regional momentum amid ECB’s dovish pivot.

Canada:
The spotlight is on April GDP, with the economy's performance key to shaping BOC rate expectations. A weak print could cement the case for further easing.

Central Banks:
Speeches by Fed’s Williams, Hammack, and Cook, along with ECB’s Rehn, may provide clues on future policy paths, especially if they comment on recent inflation data or labor market dynamics.

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