Fed Rate Decision
China’s Inflation Steady, Fed Rate Decision UK GDP Stagnates, US Inflation Awaited
At 02:30, China reported Inflation Rate YoY for May. The figure was 0.3%, steady with the last reading and the market forecast, and a bit below the market expectation of 0.4%. So, a steady inflation rate keeps an even economic environment in China, with no immediate sign of rising inflationary pressure.
In the United Kingdom: At 07:00 AM, the UK released the GDP MoM for April, which came in at 0%, lower than the previous of 0.4%. The result matched the consensus, but it was below the forecast of 0.1%, which implied that the UK economy is slowing down.
Coming up later today, at 01:30 PM, will be the U.S. Inflation Rate YoY release for May, where the consensus and forecast stay at 3.4%. The figure may remain unchanged and throw lights on the inflationary trends in the U.S. economy.
At 07:00 PM, all eyes will be at the Fed Rate Decision. Expected to keep status at 5.5%, consensus, and forecast. Very important in the decision to be able to understand where the Fed is positioned in its monetary policy with the current economic circumstances.