BlockBeats news, on June 7, following the significantly stronger-than-expected non-farm payrolls data released on June 5, market expectations for Fed rate hikes this year surged sharply. Spot gold fell for the fourth consecutive week, with Commerzbank lowering its gold price target to $4,800 per ounce. The U.S. dollar index rose significantly above the 100 level. Non-U.S. currencies generally fluctuated narrowly against the dollar, with the yen under pressure; the USD/JPY pair repeatedly approached the 160 level, reigniting market focus on whether Japanese authorities will intervene.
The June Consumer Price Index (CPI) and Producer Price Index (PPI) reports, to be released next Wednesday and Thursday respectively, are highly anticipated by the market. Forecasts suggest that both headline and core CPI in the U.S. will accelerate further, projected at 4.2% (the highest level since June 2023) and 3% respectively—a result that could trigger significant turbulence in global financial markets.
Meanwhile, SpaceX is set to list on Nasdaq on June 12 under the ticker symbol 'SPCX'. The company has set its offering price at $135 per share and plans to raise $75 billion; SpaceX’s IPO has received approximately $150 billion in investor subscriptions, doubling its fundraising target and setting a global IPO record. Below is a summary of key macroeconomic events and data for the week:
Monday
U.S. May New York Fed One-Year Inflation Expectations
U.S. ADP Employment Change for the week ending May 23
Tuesday
U.S. April Wholesale Sales Monthly Rate
U.S. API crude oil inventory for the week ending June 5
China's May CPI year-over-year rate
Wednesday
U.S. May unadjusted CPI, U.S. May seasonally adjusted core CPI monthly rate
Canada's central bank interest rate decision through June 10
U.S. EIA crude oil inventories, Cushing crude oil inventories, and U.S. EIA Strategic Petroleum Reserve for the week ending June 5
Oracle will announce its fourth-quarter fiscal year 2026 earnings after the market close.
Thursday
Eurozone ECB deposit facility rate and main refinancing rate through June 11
Initial jobless claims for the week ending June 6 in the United States
U.S. May PPI
U.S. EIA Natural Gas Inventory for the week ending June 5
Adobe will release its second-quarter fiscal year 2026 report after hours.
Friday
SpaceX IPO
Initial estimate of U.S. one-year inflation rate expectation for June
U.S. June University of Michigan Consumer Sentiment Index Preliminary