EUROPEAN SESSION

In the European session, we have only the UK Retail Sales report. The data is expected to show a 0.5% increase in May compared to a -1.3% decline the prior month. The Retail Sales Ex-Fuel M/M measure is seen at 0.4% vs -0.4% in the prior month. This is generally a market-moving release but it rarely changes the big picture due to the volatile nature and most of the time the initial reaction is faded.

AMERICAN SESSION

In the American session, we get the Canadian Retail Sales report which is expected to show a 0.6% increase in April compared to a 0.9% gain in the prior month. The Retail Sales Ex-Autos M/M measure is seen at 0.7% vs 1.4% prior. Everything said about the UK Retail Sales report is true for the Canadian one. I would expect a limited reaction unless we get some big deviations.

As a reminder, today the US is on holiday for Juneteenth so the US stock market and bond market will be closed and will resume trading on Monday. Futures markets typically halt or experience early closures, often closing at 12:00 p.m. ET.

CENTRAL BANK SPEAKERS

• 07:10 GMT/03:10 ET – ECB’s Lane (neutral – voter)
• 08:00 GMT/04:00 ET – ECB’s Escriva (neutral – voter)
• 10:15 GMT/06:15 ET – ECB’s Cipollone (neutral – voter)
• 14:30 GMT/10:30 ET – ECB’s Lane (neutral – voter)

This article was written by Giuseppe Dellamotta at investinglive.com.



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