While the US Federal Reserve is likely to keep rates unchanged, traders will be eyeing the FOMC’s latest economic projections for clues as to when the Fed might start cutting interest rates. Safestore and Broadcom report earnings.
US economic data
In the “Look ahead” to Tuesday, 12 June, Angeline Ong previews notable economic indicators and market movements. Key statistics include the US CPI figure, FOMC projections, and the Fed’s rate decision, hinting at continued US economic strength and decreased likelihood of a rate cut. Data from Japan (producer prices) and China (inflation and producer prices) will also influence markets. US dollar strength is anticipated, with resistance possibly at the 10,600 level.
UK economic data
Additionally, UK GDP, industrial production, and trade balance figures could impact the GBP/USD exchange (cable). Ong points out that the FTSE 100, benefiting from international earnings in a potentially weakening pound scenario, might see further gains.
Earnings reports
Corporate earnings from Broadcom, Safestore, and particularly Oracle are also highlighted as significant.
