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The week ahead: 05/06/23

The week ahead: 05/06/23

This week’s Halifax and RICS data will draw attention to the UK housing market, while we’ll also get German, Chinese, US and Australian trade balance figures, and Australian, Japanese and eurozone GDP updates. A light earnings schedule includes JM Smucker, Cracker Barrel, Brown-Forman, Campbell’s, Mitie, Signet, FuelCell Energy, FirstGroup and Nio.

Monday 5 June

The latest services PMI data for Australia was released late on Sunday night, while the updates for Japan, China, France, Germany, the eurozone, the UK and the US are released throughout Monday. Also watch out for the German trade balance for April and, in the US, the April factory orders and the ISM’s own non-manufacturing PMI.

Our economic calendar covers all the key market-moving events.

Tuesday 6 June

Retail activity is in the spotlight on Tuesday as the BRC’s UK retail sales monitor is released, along with April retail sales data for the eurozone. Other key releases include Japanese household spending, the Australian Q1 current account, German factory orders and construction PMI data for France, Germany, the eurozone and the UK. The RBA announces its latest decision on interest rates, with pressure mounting on the Australian central bank after last week’s higher than expected inflation data. Earnings come from US food and beverage company JM Smucker and restaurant chain Cracker Barrel.

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Wednesday 7 June

We’ll get an update on the state of the UK housing market with the Halifax house price index on Wednesday. Last month’s report showed the average UK house price falling by 0.3% in April, with annual growth slowing to 0.1%. Keep an eye out too for Chinese and US trade balance figures, Australian Q1 GDP and Germany’s industrial production for April. Alcoholic drinks firm Brown-Forman reports to the market, along with canned food company Campbell’s.

Thursday 8 June

Mitie chart: 02/06/23
   Mitie chart: 02/06/23 (click to expand image)

Facilities management group Mitie reports full-year results on Thursday, after last week winning a new three-year contract with Yorkshire Water. Updates are also due from jewellery retailer Signet, budget airline Wizz Air, renewable power firm FuelCell Energy, transport provider FirstGroup, UK housebuilder Crest Nicholson and footwear and clothing retailer Designer Brands. The RICS house price balance will give us another perspective on the UK housing market, while we’ll also see the latest Japanese current account, Australian trade balance and Japanese and eurozone GDP figures.

Take your own view on UK, US and European equities.

Friday 9 June

Chinese carmaker Nio is expected to post first-quarter results on Friday, after last week revealing falling sales, down 12.3% in May year-on-year. We’ll also get Chinese CPI and PPI updates for May, while in the US the latest WASDE report will give us a guide to supply and demand for crops and livestock.

Go long or short on a wide range of popular commodities.

Published: 5 June 2023

You should under no circumstances consider the information and comments provided as an offer or solicitation to invest. This is a macro summary of scheduled news announcements and is not investment advice, independent research or an investment recommendation. The information provided is believed to be accurate at the date the information is produced.

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The week ahead: 05/06/23 was first posted on June 5, 2023 at 6:00 am.
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