Here are several economic data which may decide the momentum of the market.
EUR: German ifo Business Climate at 1:30 PM
Measures: Level of a composite index based on surveyed manufacturers, builders, wholesalers, services, and retailers
Released monthly, around 3 weeks into the current month
Next Release Date: June 22, 2022
This survey is highly respected due to its large sample size and historical correlation with German and wider Eurozone economic conditions. It tends to create a hefty market impact upon release. Source changed series from the base year of 2000 to the base year of 2005, as of May 2011, and changed series to include services, as of Apr 2018
It’s a leading indicator of economic health – businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment;
Forecast- [91.5]
Previous- [91.8]
Actual- ?
Impact- The forecast figure seems to be neutral for base metals and the dollar while positive for bullions. The actual figure to release at 1:30 PM.
GBP: BOE Gov Bailey Speaks at 9:45 PM
Measures: Due to participating in a panel discussion titled “Monetary policy, policy interaction and inflation in a post-pandemic world with severe geopolitical tensions” at the Oesterreichische National Bank Annual Economic Conference, in Vienna;
BOE Governor Mar 2020 – Mar 2028. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues;
As head of the central bank, which controls short-term interest rates, he has more influence over the nation’s currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy