Compiled by: GaryMa Wu Blockchain
Summary
Wu Blockchain's weekly macroeconomic indicators and analysis: Last week, the US May employment data was weak, the Federal Reserve's Beige Book showed economic slowdown, and the European Central Bank cut interest rates; this week will focus on the US May CPI and the first meeting of the China-US economic and trade consultation mechanism.
Last Week Review
Key Events & Indicators This Week
June 09
June 10
June 11
June 12
June 13
Summary
Wu Blockchain's weekly macroeconomic indicators and analysis: Last week, the US May employment data was weak, the Federal Reserve's Beige Book showed economic slowdown, and the European Central Bank cut interest rates; this week will focus on the US May CPI and the first meeting of the China-US economic and trade consultation mechanism.
Last Week Review
- US seasonally adjusted non-farm employment in May was 139,000, a new low since February, higher than the market expectation of 130,000, with the unemployment rate maintaining at 4.2% for the third consecutive month;
- US ADP employment in May increased by 37,000, the lowest since March 2023, far below the expected 114,000, with the previous value being 62,000.
- The European Central Bank announced its latest interest rate decision, cutting rates by 25 basis points as expected, lowering the deposit facility rate from 2.25% to 2%, marking the eighth rate cut in a year.
- The Federal Reserve's Beige Book showed that economic activity in the US has slightly declined in recent weeks since the last report, indicating that tariffs and high uncertainty are having a chain reaction on the economy.
- US initial jobless claims for the week ending May 31 were 247,000, expected at 235,000, with the previous value revised from 240,000 to 239,000.
- US May ISM Services PMI was 49.9, significantly below the expected 52, with the April value being 51.6.
Key Events & Indicators This Week
June 09
- China's May CPI Year-on-Year (09:30)
- He Lifeng will visit the UK from June 8 to 13 and hold the first meeting of the China-US economic and trade consultation mechanism
June 10
- China's May M2 Money Supply Year-on-Year
June 11
- US May Unadjusted CPI Year-on-Year (20:30)
June 12
- US Initial Jobless Claims for the week ending June 7 (20:30)
- US May PPI Year-on-Year (20:30)
June 13
- Federal Reserve to Publish Quarterly Financial Accounts Report (00:00)
