Market focus
On Tuesday, 11.06.2019, the economic calendar will be saturated due to the voluminous employment report in the UK.
At the start of the day, market attention will be focused on publishing business confidence in Australia. Growth in market activity should be expected closer to the European trading session and the publication of employment data in the UK. Expectations regarding the labor market in the UK in April remain mixed. Thus, a reduction in the level of wages is expected, which will have a negative impact on inflation. At the same time, the number of applications for unemployment benefits is also expected to decrease. Last year, this figure shows a steady increase.
In the American session, market attention will shift to producer prices (PPI) in the United States, which is also expected to provide ambiguous data. This indicator remains a significant inflation indicator.
Hanzenko Anton