Important events for the crypto market on June 12 from the economic calendar

Important events for the crypto market on June 12 from the economic calendar.

Today is the second most important day of the week, we are waiting for the publication of manufacturing inflation in the USA. The forecast for most data is an increase or, at best, a pause. However, considering yesterday's good consumer inflation data, even a pause would be enough for positivity in the markets. If the manufacturing inflation data turns out to be even lower than the forecast, the markets should perceive this as an excellent signal and a sign of the approaching prospects for a rate cut this summer.

Although the chances of this happening on June 18 are zero - there will be another meeting on July 30. So far, the markets are estimating the probability of a rate cut at the end of July by 0.25 percentage points at only 18.6%. Not much, but clearly higher than June's expectations.

Schedule for the day:

❗️- 15:30 Kyiv and Moscow time / 17:30 Astana time - Block of inflation data for the USA (May), manufacturing inflation (leading indicator of consumer inflation for June):

-- Core Producer Price Index (m/m, y/y).

-- Producer Price Index (m/m, y/y).

❗️- 15:30 Kyiv and Moscow time / 17:30 Astana time - Block of US labor market data, important for the Fed:

-- Total number of people receiving unemployment benefits

-- Number of initial claims for unemployment benefits.

❗️- 23:30 Kyiv and Moscow time / 01:30 of the new day in Astana - Federal Reserve Balance. Increased volatility - only if the data significantly differs from the recent averages.

After today's inflation data, only the forecasts from the University of Michigan will remain important for the week.