Brexit vote to take spotlight

The UK referendum vote on whether or not to remain in the European Union will no doubt be the main highlight of the week. In recent days, the markets were roiled by the increasing probability of a Brexit, based on polls showing the “leave” campaign gaining ground against the “remain” campaign and this had a toll on sterling, which fell to two-month lows against the dollar. On Friday, the pound saw some reprieve after news of the killing of a British MP, Jo Cox, who was a pro -“remain” campaigner.

Aside from the June 23 vote, there are some other important economic data that markets will focus on in the coming week.

Japan trade data

Fed Chair Janet Yellen testimony on the Semiannual Monetary Policy Report before the Senate Banking Committee, in Washington DC.

Investors will closely watch this event as they hope it will add insight into whether the Fed will hike interest rates again in 2016. At its June 14-15 policy meeting the Fed decided to keep rates on hold due to risk of the UK EU referendum.

Eurozone Consumer confidence

UK referendum vote on EU membership

Eurozone PMI
The release of flash PMI results for June will meanwhile provide analysts with the first complete picture of Eurozone growth trends in the second quarter. The May survey pointed to the region’s economy remaining on a subdued growth path, with GDP growth likely to have slowed from the impressive start to the year. Meanwhile, the European Commission updates its Consumer Confidence Index.


German Ifo Business Climate
US Durable Goods Orders

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