Week Ahead: Markets to Focus on Canada’s GDP and CPI and Australia’s CPI

June 26, 2023

This week, market participants prepare for important economic events such as the release of Canada’s Gross Domestic Product (GDP) and Consumer Price Index (CPI), in addition to Australia’s CPI.

Traders are anticipated to keep a close watch on these critical updates to tailor their strategies and acquire valuable knowledge about the financial markets.

Remember to stay updated with a summary of noteworthy developments.

Canada Consumer Price Index (27 June)

Canada’s CPI rose 0.7% in April 2023 compared to March 2023 figures. 

Analysts anticipate a 0.5% increase for May data, set to be released on 27 June.

Australia Consumer Price Index (28 June)

Australia’s CPI saw a 6.8% increase in the year leading up to April 2023, a rise from the 6.3% gain observed in the year ending in March 2023 – the lowest in 10 months. 

Analysts predict a slower growth of 6.4% for the data covering the year to May 2023, set for release on 28 June.

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German Prelim Consumer Price Index (29 June)

CPI in Germany experienced a 0.10% decrease in May 2023 compared to the previous month, marking the first decline in five months. 

CPI data for June will be published on 29 June, with analysts predicting a 0.3% increase.

Canada Gross Domestic Product (30 June)

Canadian economy displayed no growth in March 2023, as service-producing industries stagnated and goods-producing industries saw a minor 0.1% decline. 

Analysts anticipate a 0.2% growth for April 2023 data, scheduled for release on June 30.

US Core PCE Price Index (30 June)

US Core PCE prices, excluding food and energy, experienced a 0.4% month-over-month increase in April 2023. 

The data for May 2023 is set to be released on 30 June, with analysts expecting 0.3% growth.