When it comes to navigating the complex world of foreign exchange and international payments, knowledge is your best ally. That's why we've compiled a guide to the key dates and financial events in June 2024 to be aware of when making cross-border payments.
Whether you're a seasoned trader or just dipping your toes into the financial waters, understanding these economic indicators can make a significant impact, and allow you to make informed financial decisions.
Read on to stay informed and discover how we can empower your international financial transactions, or visit our Economic Calendar for June.
It’s the first week of them month, so focus on the US job numbers to give further clues on when the Fed will look to cut interest rates. Last month's readings came in lower than expected triggering a month long sell off in USD throughout May. Anything to suggest the job market is weakening will be welcome news for the Fed and will likely bring forward when the Fed are expected to cut.
The other major event will be the ECB meeting. Markets are expecting a 0.25% rate cut by the ECB and this is largely priced in. In light of Mays inflation numbers coming in higher and Q1 wage growth coming in higher, we could sell see a hawkish cut by the Bank which should bode well for the EUR.
Week 2 and its time for UK job numbers.
Despite the BoE last month indicating there could be a rate cut this summer, the combination of wage pressures and higher than expected inflation has pushed back when the BoE will be expected to cut – another strong set of numbers and GBP should continue to trade well.
US CPI on the Wednesday will be another big number for USD and what this means for rate cuts this year.
Big week for GBP with the release of CPI numbers on the Wednesday and BoE meeting on Thursday. No rate cut expected by the Bank following last months disappointing inflation numbers and in light of the upcoming General Election.
Nonetheless, the vote amongst the BoE members and accompanying statement will be key.
And finally, the last week where the final Q1 reading of GDP will be released stateside as well as the Fed preferred measure of inflation, the core PCE.
Now that you're aware of the key economic events taking place in2024, let's talk about how Equals Money can elevate your international payments experience. Our service is designed to make your life easier and transactions smoother.
In conclusion, staying informed about key economic calendar indicators, events, and dates is vital for making informed financial decisions. Whether you're monitoring GBP, EUR, or USD, these dates can significantly impact your currency exchange rates.
For the dates, events, and economic indicators that matter most to businesses, investors, and economic enthusiasts. Our Economic Calendar offers comprehensive insights into the meaningful indicators influencing market movements and FX rates across the UK, US, and EU. Visit our Economic Calendar for June.
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