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Focus on the evolution of prices in the United States and Germany, Not to be missed tomorrow

The big event of the week will be the meeting of the Federal Reserve which will last two days and will begin on Tuesday. The question of a new rate hike does not even arise because, at 8.6% over one year in May, the US consumer price index published on Friday turned out to be well above expectations. The markets hope that the producer price index, unveiled this Tuesday at 2:30 p.m., will not hold any unpleasant surprises. For several months, it seems to be reaching a ceiling, a little above 10% year-on-year, and is expected for the month which has just passed at 10.8%. The economists forming the Bloomberg consensus expect an increase of 0.8% over one month in May, against 0.5% in April, and 0.6% in core (excluding food and energy) against 0.4% in April .

Across the Rhine, the Federal Statistics Office should confirm inflation at 8.7% over one year in May, against 7.7% the previous month. On a monthly basis, prices are expected to have risen 1.1%, or 0.4 percentage points more than in April.

Towards an improvement in the business climate?

It remains to be seen how this inexorable price increase will impact the sentiment of German financial analysts and investors in June. The ZEW indicator should remain anchored in negative territory at -26.8 points, however improving compared to May (-34.3). The statistics will be published at 11 a.m. but the enthusiasm is not in order, because German companies are suffering from this inflation which remains at a high level and from the shortages which affect buoyant sectors of its economy (the automobile in particular) .

On the securities front, the pharmaceutical company MedinCell will publish its 2021-2022 annual results in a delicate context since the American Health Authority (FDA) has not approved its treatment for schizophrenia. The manufacturer of barrels and corks, Oeneo, will also deliver its annual accounts while its half-yearly had distinguished itself by an increase in its turnover and its margins.

The casino operator, Groupe Partouche, will reveal its first-half business volume, hoping for a recovery after being heavily affected by the health crisis.




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