Macroeconomics: The Day Ahead for 8 June

  • Relatively busy run of data may get little traction as focus firmly on Fed and ECB meetings; digesting UK RICS survey, Japan GDP, Current Account & services survey, Australia Trade Balance; awaiting final Eurozone GDP, US weekly jobless claims, Mexico & Chile CPI; BoC and SNB speakers


With some European and Brazil markets closed for the Corpus Christi holiday, and markets now focussed on the upcoming run of G7 central bank meetings (Fed, ECB and BoE), today’s relatively busy run of data may not get that much traction. There are the as expected no change, but hawkishly messaged rate decision from India’s RBI, Japan’s final Q1 GDP, Current Account and Economy Watchers Survey, UK RICS House Price Balance and Australian Trade Balance to digest. Ahead lie Eurozone final Q1 GDP, South Africa’s Current Account, US weekly jobless claims, and Chile and Mexico CPI. With the Fed in purdah, and no ECB speakers, the central bank speakers list is limited to SNB’s Jordan, and perhaps more sensitively Bank of Canada’s Beaudry, following on from the unexpected rate hike yesterday. Govt bond issuance is light, with Ireland selling 10 & 27-yr, and the US continuing its efforts to rebuild its Cash balance at the Fed with a sale of $110 Bln total of 4 & 8-week T-Bills, as it aims to get that balance back to $425 Bln by the end of the month. Some attention also needs to be given to the gridlock in Congress as House Speaker McCarthy failed to muster enough support yesterday for a procedural vote following a revolt by Republican hard-liners that halted House business.

To view the full report and to sign up for daily market commentary please email

Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.

ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.                  

A subsidiary of Archer Daniels Midland Company.

© 2021 ADM Investor Services International Limited.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

Latest News & Market Commentary

Explore the latest edition of The Ghost in the Machine

Explore Now