On June 7, the following important macroeconomic data release points are scheduled for next week:
Monday at 22:00, US April Wholesale Sales Month-on-Month Rate;
Monday at 23:00, US May New York Fed 1-Year Inflation Expectation;
Wednesday at 20:30, US May CPI Data;
Wednesday at 22:30, US EIA Crude Oil Inventories, Cushing Crude Oil Inventories, and Strategic Petroleum Reserve Inventories for the week ending June 6;
Thursday at 20:30, US Initial Jobless Claims for the week ending June 7, US May PPI;
Friday at 22:00, US June 1-Year Inflation Rate Preliminary Estimate, US June University of Michigan Consumer Confidence Index Preliminary Value.
The US May CPI report to be released next Wednesday will test the market's optimistic sentiment about rate cuts, as it may show a stagnation in the recent downward inflation trend. According to the Cleveland Fed's Nowcast model, the overall CPI is expected to increase by 2.4% year-on-year in May, higher than last month's 2.3%; core CPI is expected to increase by 2.8% year-on-year, unchanged from the previous month. Analysts expect the core goods three-month annualized inflation rate to peak in early autumn (4%-5%), slightly lower and delayed compared to the forecast before the "equivalent tariff" suspension on May 8.
