Lighter menu this Friday on the stock market, except for the monetary policy decision of the Bank of Japan and a leading figure across the Atlantic. In the morning, investors will be able to read the inflation figures in France, presented before the stock market. But these are only final data for the month of May and it will be towards the ECB that eyes will be turned. The chief economist, Philip Lane, and the president, Christine Lagarde, will speak at 11 a.m. and 7:30 p.m. respectively at a conference organized by the Croatian central bank.
Few meetings in sight in the United States, but we will still have to look closely, at 4 p.m., at the household confidence index as calculated by the University of Michigan. It is all the more anticipated as these are the first data for the month of June, so-called preliminary. The Bloomberg consensus expects an increase to 72 points, compared to 69.1 points in May. We will especially monitor its component of one-year expectations for the importance it has in the context of the Fed’s monetary policy. It is expected, according to the Bloomberg consensus, to decelerate to 3.2% over one year, compared to 3.3% in May.
After the BoC, the ECB and the Fed, the BoJ
Early in the morning, after the Bank of Canada, the European Central Bank and the American Federal Reserve, it is the turn of the Bank of Japan to deliver its verdict on its monetary policy. For Oddo BHF, in “ the absence of explicit signals coming from officers, a second increase (after that of March) seems improbable “. Indeed, during its last meeting, the Japanese bank had, for the first time in sixteen years, raised its interest rate to a range of 0% to 0.1%.
It is therefore not a change in rates that is expected this Friday, but rather the announcement of monetary tightening via an asset sale. A movement already initiated by the bank to try to support the country’s currency. The currency, today at 157 yen per dollar and close to its historic low, is symbolically approaching the threshold of 160 yen per dollar.
