Monday 7th June
Featured Event: China releases external balance data in April
With the yuan hitting a maximum of three years against the dollar and the Western economy recovering the pace of orders from China, the Asian giant publishes international trade statistics in April, with markets paying attention to China’s external surplus, this in a week that saw the country also release inflation data for May.
Other events in focus:
- Calculation of OPA results from Sodim to Semapa
- The National Institute of Statistics publishes the new index for the cost of housing construction in April
- BdP Bank publishes data on interest rates on loans and deposits
- Hearings by Gabriela Figueiredo Dias, President of CMVM, and Carlos Tavares, former President of CMVM, at the Parliamentary Inquiry into Novo Banco Losses
- Germany: industrial orders in April
Tuesday 8 June
Featured Event: Eurostat confirms first-quarter GDP data for the Eurozone and the European Union
After the first months of the year were marked by long and highly restrictive economic activity across the European Economic Area, the expected recovery at the start of 2021 has fizzled out. This week Eurostat releases figures detailing the scale of the pandemic’s impact on European growth in the first three months of the year, with a lower expected annually at about 1.8%.
Other events in focus:
- Hearings by Fernando Ulrich, Chairman of the Board of Directors of BPI, and Byron Haynes, Chairman of the General and Oversight Council of Novo Banco at the Parliamentary Committee to Inquiry into Novo Banco Losses
- ZEW releases economic sentiment indicators for Germany and the Eurozone in June
- Germany: Industrial Production in April
- Brazil: Retail Sales in April
- Japan: GDP in the first quarter
- USA: External balance in April
- Canada: External Balance in April
Wednesday 9th June
Featured Event: INE releases international trade data for April
With the recovery in economic activity brought about by the lack of restrictions in Portugal, it is important to understand how international trade behaved in April, particularly exports, one of the drivers of the national recovery in recent years. Despite the improvement in the scenario in most of the major Portuguese economic partners, services are likely to remain affected by the decline in tourism, although the year-on-year comparison is already benefiting from the base effect.
Other events in focus:
- BdP Bank publishes securities issue data
- The National Institute of Statistics publishes construction data in April
- Hearing from Miguel Maia, Chairman of the Executive Committee of Millennium BCP, and Rafael Mora, former partner of Nuno Vasconcellos, on the Parliamentary Inquiry into Novo Banco Losses
- China: Inflation in May
- Germany: External balance in April
- Spain: Issuance of 10-year bonds
- Brazil: Inflation in May
- Canada: The Bank of Canada announces its interest rate decision
- Inditex delivers quarterly results
Thursday 10 June
special eventThe European Central Bank’s Governing Council meeting
Eurozone inflation hit 2% in May, exceeding the European Central Bank’s target of an increase close to 2% but less than 2%, which intensified the attention of analysts and investors on the matter. Expectations are that Christine Lagarde will maintain her policy and rhetoric, confirming that the European Central Bank sees rising inflation as temporary. However, the press conference should refer to the internal discussion in the Council on this topic. New economic forecasts for . will also be under review staff central bank.
Other events in focus:
- Portugal Day, a national holiday. The bags remain open
- France: job creation in the first quarter
- USA: Inflation in May
- US: Weekly jobless claims for the week ending June 5
- Japan: Industrial Production in April
Friday 11 June
Featured Event: Hearing from Vitor Constancio, former Governor of the Bank of Portugal, and Ricardo Mourinho Felix, former Assistant Minister of Foreign Affairs and Finance, on the parliamentary inquiry into losses at Novo Banco
In the week when several major hearings of the Parliamentary Commission of Inquiry into Losses are scheduled in Novo Banco, the top name was Vitor Constancio. Thus, the former Governor of the Bank of Portugal and former Deputy Governor of the European Central Bank returns to Parliament after two hearings in the Caixa Inquiry Committee Geral Depositos, after he also requested not to testify in the BES and Banif cases.
Other events in focus:
- The National Institute of Statistics releases data on services in April
- UK: Industrial Production in April
- United Kingdom: External balance in April
- France: inflation in May
- Spain: inflation in May
