United States Pending Home Sales (YoY): 4.8% (May) vs 3.2%

United States Pending Home Sales (MoM) above forecasts (0.8%) in May: Actual (3.8%)

United States Business Inventories meets expectations (0.5%) in April

European Central Bank (ECB) policymaker Olaf Sleijpen said in a speech at an event organized by the European Economics & Financial Center (EEFC) in London on Wednesday that while a repeat of 2022's inflation spike appears less likely, the risk cannot be fully ruled out.

Tradingkey - On Wednesday, Eastern Time, data released by the U.S. Census Bureau showed that U.S. retail sales in May increased by 0.9% month-on-month, significantly higher than the market expectation

ABN AMRO economists discuss how a new chapter for the Federal Reserve could influence the US Dollar over coming months.

Canada New Housing Price Index (YoY): -2.4% (May) vs previous -2.3%

Retail Sales in the United States increased to $763.7 billion in May, the US Census Bureau reported on Wednesday. This print followed the 0.5% expansion recorded in the previous month and came in above market expectation (+0.5%). On a yearly basis, Retail Sales were up 6.9% in this period.

United States Retail Sales (YoY) rose from previous 4.9% to 6.9% in May

United States Retail Sales Control Group rose from previous 0.5% to 0.7% in May

United States Retail Sales ex Autos (MoM) came in at 0.8%, above forecasts (0.5%) in May

Canada New Housing Price Index (MoM) came in at -0.3% below forecasts (-0.1%) in May

United States Retail Sales (MoM) above forecasts (0.5%) in May: Actual (0.9%)

Societe Generale’s Sam Cartwright notes that UK Headline CPI stayed at 2.8% year-on-year in May, undershooting both Bloomberg consensus and the BoE’s April MPR projection, while core inflation edged up to 2.6%.

South Africa Retail Sales (YoY) declined to 1.3% in April from previous 2.6%

United States MBA Mortgage Applications down to -3.8% in June 12 from previous 10.8%

Kit Juckes at Societe Generale highlights that recent G10 central bank actions have not sparked major FX moves, with EUR/USD still range-bound. He notes deeper Eurozone GDP forecast cuts versus other regions.

OCBC’s Christopher Wong notes the RBA kept rates at 4.35% while retaining a tightening bias, signalling readiness to hike if needed. However, slowing growth and rising unemployment point to a prolonged pause.

RaboResearch Global Economics & Markets discusses recent UK CPI and labour data and their implications for the Pound, EUR/GBP and GBP/USD. The bank notes softer UK inflation, signs of spare capacity in the labour market and tighter financial conditions.

OCBC’s Christopher Wong highlights that the BoJ’s widely expected 25 bp hike to 1.0% and confirmation of tapering ending in 2027 delivered limited support for the Japanese Yen.

The United States (US) Federal Reserve (Fed) announces its interest rate decision on Wednesday, another pivotal meeting for markets to gauge the stance of policymakers and new Chair Kevin Warsh as energy prices retreat after the United States and Iran reached a framework deal to reopen the Strait of

United Kingdom DCLG House Price Index (YoY) registered at 3.8% above expectations (2.8%) in April

South Africa Consumer Price Index (MoM) dipped from previous 1.1% to 0.7% in May

South Africa Consumer Price Index (YoY) came in at 4.5%, below expectations (4.7%) in May

European Central Bank (ECB) policymaker, Gediminas Šimkus, crossed the wires during the early European session on Wednesday, saying there's still enough upside risk for inflation to justify additional policy tightening.

NZD/USD depreciates after registering modest gains in the previous day, trading around 0.5820 during the early European hours on Wednesday. The pair loses ground as the New Zealand Dollar (NZD) struggles on market caution ahead of the Federal Reserve (Fed) policy decision due later in the day.

Sweden Riksbank Interest Rate Decision in line with expectations (1.75%)

Austria HICP (YoY): 0.7% (May) vs previous 3.4%

Austria HICP (YoY) rose from previous 3.4% to 3.7% in May

Austria HICP (MoM) meets forecasts (0.1%) in May