UK May inflation report the key release of the session

Good day, everyone! Hope you're all doing well ahead of European trading later. It's been a quiet start to the morning for the most part, so here is what's on the agenda for the session ahead:

0700 GMT - Spain May final CPI figures

Preliminary readings can be found here. These are final figures so the impact is relatively minor to nil unless there is a major revision - but even so, a minor data point.

0715 GMT - Switzerland May producer and import prices

Prior release can be found here. A rough gauge of inflationary pressures in the Swiss economy. Not a major data point by any means.

0715 GMT - Switzerland Q1 factory output data

Q4 figures can be found here. Not exactly major releases and won't impact the swissie all too much.

0830 GMT - UK May inflation report

Prior figures can be found here. Focus will be on the CPI figures, with the yearly estimate for both the headline and core readings expected to hold steady at 2.4% and 2.1% respectively. A further dip in inflation while may be good for consumers, it will put off the BOE from possibly hiking rates as there is a further slowdown in inflationary pressures.

0900 GMT - Eurozone April industrial production data

Prior release can be found here. Low-tier data, but provides a general sentiment indicator for the Eurozone economy as this is part of Q2 data.

0900 GMT - Eurozone Q1 employment change

Prior release can be found here. An overview of employment trends in the Eurozone economy to start the year, not a major data point by any means.

1100 GMT - US MBA mortgage applications w.e. 8 June

Weekly US housing data, measures the change in number of applications for mortgages backed by the MBA during the week. Not the biggest of data points, but a general indicator of the housing sector sentiment.

That's all for the session. Given that we'll have the FOMC meeting later to come as well, I expect things to be a little tepid apart from the brief action ahead and after the UK inflation report.

I wish you all the best of days ahead, and good luck with your trading!