Summary of the most interesting economic events from the trading week of May 30 - June 5, 2022

High inflation requires further action by central banks!

Welcome to our regular recap of the important events we followed last week.

Read on to keep up to date


During the last trading week, we followed the data from the euro area, which were mainly related to inflation, PMI and the labour market.

Inflation in the euro area reaches new highs. This is putting increasing pressure on the ECB to act to raise rates to bring inflation under control.

  • CPI (annual) - current: 8.1 % / previous: 7.4 %
  • CPI (monthly) - current: 0.8 % / previous: 0.6 %


We also saw an interesting fundamental last week in the USA.

Wednesday's manufacturing PMI came in slightly above market expectations. Suppliers see light at the end of the tunnel for resumption of supply of (semiconductor) components. Supply appears to be easing in Q2 and Q3. Prices continue to rise, but at a slower pace. New orders grew at a faster pace.

  • PMI (manufacturing) - current: 56.1 / previous: 55.4


The Japanese yen weakened significantly again last week. BOJ Governor Kuroda is reportedly expected to appear before the Diet this week to present a report on monetary policy.

We probably won't hear anything significantly different than which way the BOJ is going, but it will be good to watch.

The BOJ thinks there is no need to tighten monetary policy at this point.

And what's in store for the current trading week?

On Tuesday, we turn our attention to the interest rate decision in Australia. The market's prediction is that the Reserve Bank of Australia (RBA) will raise the base rate for the second time since November 2010, by a base 25 basis points.

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