BlockBeats news: On June 13, next week, market focus will center on interest rate decisions by the Federal Reserve and several other major central banks. Since being sworn in as the new Chair of the Federal Reserve, Waish has remained silent; the press conference following the June rate decision will be a critical test of his monetary policy stance. The market also expects him to send clear signals regarding reforms to communication mechanisms. Below are the key events the market will closely watch next week (all times in Beijing Time):
Monday, 15:15, ECB President Lagarde delivers a speech;
Tuesday TBA, Bank of Japan announces interest rate decision; 14:30, Deputy Governor Shinichi Uchida holds a monetary policy press conference;
Tuesday, 20:15: Weekly change in ADP employment numbers for the week ending May 30 in the United States;
Thursday at 2:00 AM, the Federal Reserve FOMC releases its interest rate decision and Summary of Economic Projections; at 2:30 AM, Fed Chair Powell holds a monetary policy press conference;
Thursday, 20:30: U.S. initial jobless claims for the week ending June 13, U.S. Philadelphia Fed manufacturing index for June.
On the policy front, the market is focused on whether three hawkish signals from the Fed will materialize: First, whether the wording in the previous policy statement indicating a "bias toward future rate cuts" will be removed. If this phrasing is deleted, it would signal that the Fed has officially ended its previous accommodative stance and shifted toward a policy framework centered on combating inflation. Second, changes to the dot plot: the March dot plot indicated one rate cut for the year, but this round’s dot plot is likely to show rate stability, or even a majority of officials anticipating rate hikes. Third, shifts in risk sentiment: if officials’ concerns about inflation have clearly intensified while worries about the labor market have eased, this could pave the way for future rate increases.
On Friday, June 19, the New York Stock Exchange was closed for Juneteenth. Trading for CME Group’s precious metals, energy, foreign exchange, stock index, and U.S. Treasury futures contracts ended early at 01:00 Beijing time on June 20. Trading for ICE’s Brent crude oil futures contracts ended early at 01:30 Beijing time on June 20.