Today’s Current Thoughts are summed up in my most recent article Gold Is Knocked Down, but Not Out.
The weekly economic calendar is below. The most important issue this week is the Fed meeting, so expect some volatility as usual.
| Time | Cur. | Event | Forecast | Previous | |
| Monday, June 15 | |||||
| 03:00 | EUR | German Buba President Weidmann Speaks | |||
| 03:15 | CHF | PPI (MoM) | 0.1% | -2.1% | |
| 03:15 | CHF | Retail Sales (YoY) | -2.2% | -2.8% | |
| 03:30 | AUD | RBA Assist Gov Kent Speaks | |||
| 04:00 | EUR | Italian CPI (MoM) | 0.2% | 0.2% | |
| 05:00 | EUR | Trade Balance | 23.4B | ||
| 08:30 | CAD | Manufacturing Sales (MoM) | -0.5% | 2.9% | |
| 08:30 | USD | NY Empire State Manufacturing Index | 6.00 | 3.09 | |
| 09:00 | EUR | ECB President Draghi Speaks | |||
| 09:15 | USD | Industrial Production (MoM) | 0.3% | -0.3% | |
| 16:00 | USD | TIC Net Long-Term Transactions | 17.6B | ||
| 17:55 | AUD | RBA Assist Gov Debelle Speaks | |||
| 21:30 | AUD | Monetary Policy Meeting Minutes | |||
| Tuesday, June 16 | |||||
| 02:00 | EUR | German CPI (MoM) | 0.1% | 0.1% | |
| 04:30 | GBP | CPI (YoY) | 0.1% | -0.1% | |
| 04:30 | GBP | PPI Input (MoM) | 0.4% | 0.4% | |
| 04:30 | GBP | CPI (MoM) | 0.2% | 0.2% | |
| 05:00 | EUR | German ZEW Economic Sentiment | 37.1 | 41.9 | |
| 05:00 | EUR | German ZEW Current Conditions | 63.0 | 65.7 | |
| 08:30 | USD | Building Permits | 1.100M | 1.140M | |
| 08:30 | CAD | Foreign Securities Purchases | 22.47B | ||
| 08:30 | USD | Housing Starts | 1.100M | 1.135M | |
| 08:30 | USD | Building Permits (MoM) | 9.8% | ||
| 08:30 | USD | Housing Starts (MoM) | 20.2% | ||
| 18:45 | NZD | Current Account (QoQ) | -3.19B | ||
| 18:45 | NZD | Current Account (YoY) | -7.82B | ||
| 19:50 | JPY | Exports (YoY) | 3.5% | 8.0% | |
| 19:50 | JPY | Trade Balance | -226B | -53B | |
| Wednesday, June 17 | |||||
| 04:30 | GBP | Average Earnings Index +Bonus | 2.1% | 1.9% | |
| 04:30 | GBP | Claimant Count Change | -12.5K | -12.6K | |
| 04:30 | GBP | Unemployment Rate | 5.5% | 5.5% | |
| 04:30 | GBP | BoE MPC vote cut | |||
| 04:30 | GBP | BoE MPC vote hike | |||
| 04:30 | GBP | BoE MPC vote unchanged | 9 | 9 | |
| 05:00 | EUR | CPI (YoY) | 0.3% | 0.3% | |
| 05:00 | EUR | CPI (MoM) | 0.2% | 0.2% | |
| 05:35 | EUR | German 10-Year Bund Auction | 0.650% | ||
| 08:30 | CAD | Wholesale Sales (MoM) | 0.3% | 0.8% | |
| 10:30 | USD | Crude Oil Inventories | -6.812M | ||
| 14:00 | USD | Fed Interest Rate Decision | 0.25% | 0.25% | |
| 14:00 | USD | FOMC Statement | |||
| 14:00 | USD | FOMC Economic Projections | |||
| 14:30 | USD | Fed Chair Yellen Speaks | |||
| 18:45 | NZD | GDP (QoQ) | 0.8% | ||
| Thursday, June 18 | |||||
| 04:30 | GBP | Retail Sales (MoM) | 0.2% | 1.2% | |
| 04:30 | GBP | Retail Sales (YoY) | 4.8% | 4.7% | |
| 04:30 | GBP | Core Retail Sales (MoM) | -0.3% | 1.2% | |
| 04:30 | GBP | Core Retail Sales (YoY) | 4.6% | 4.7% | |
| 05:00 | EUR | Spanish 10-Year Obligacion Auction | 1.882% | ||
| 05:00 | EUR | Wages in euro zone (YoY) | 1.00% | ||
| 08:30 | USD | Core CPI (MoM) | 0.2% | 0.3% | |
| 08:30 | USD | CPI (MoM) | 0.5% | 0.1% | |
| 08:30 | USD | Current Account | -116.8B | -113.5B | |
| 08:30 | USD | Initial Jobless Claims | 279K | ||
| 08:30 | USD | Core CPI (YoY) | 1.8% | 1.8% | |
| 10:00 | USD | Philadelphia Fed Manufacturing Index | 8.0 | 6.7 | |
| 10:00 | USD | Philly Fed Employment | 6.7 | ||
| Friday, June 19 | |||||
| 02:00 | EUR | German PPI (MoM) | 0.2% | 0.1% | |
| 08:30 | CAD | Core CPI (MoM) | 0.3% | 0.1% | |
| 08:30 | CAD | Core Retail Sales (MoM) | 0.3% | 0.5% | |
| 08:30 | CAD | CPI (MoM) | 0.5% | -0.1% | |
| 08:30 | CAD | Retail Sales (MoM) | 0.5% | 0.7% | |
| 08:30 | CAD | Core CPI (YoY) | 2.1% | 2.3% | |
| 11:40 | USD | FOMC Member Williams Speaks | |||
| 12:00 | USD | FOMC Member Mester Speaks | |||
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About Doug EberhardtDoug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
Disclosure:
Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with capital you can’t afford to lose. This is neither a solicitation nor an offer to Purchase/Sell futures or options. No representation is being made that any account will or is likely to achieve gains or losses similar to those discussed in this outlook. The past track record of any trading system or methodology is not necessarily indicative of future results.
All trades, patterns, charts, systems, etc. discussed in this outlook and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author.