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June 3, 2024 Week Ahead: Rate Decisions, Jobs Data, Earnings & More

Plus500 | Monday 03 June 2024

The financial markets are poised for an eventful week with data releases from global economies, including the US, the Eurozone, and Canada. 

From central bank meetings to labour data and earnings reports, here’s what you need to know about the upcoming events for the week of June 3, 2024:

An image of economic data

Central Banks’ Meetings for the Week 

The European Central Bank (ECB) and the Bank of Canada (BOC); two major central banks, are set to release their interest rate decision this week.


The BOC is set to release its rate decision on Wednesday, June 5. Markets expect this central bank to cut rates by 25-basis points, and interestingly, the decision comes against the backdrop of recent GDP numbers (released on Friday, May 31) showing that Canada’s economy is growing at a sluggish pace.


The ECB will release its decision on Thursday, June 6. Despite widespread expectations of rate cuts, inflation in the Euro Area remains stubbornly high in the services sector. However, the bloc’s economy is recovering rapidly, leading to a blurry overall economic trajectory for the Eurozone.

Only time will reveal the path this major central bank will take.

Jobs Data: How Is the US Economy Faring?

The US jobs report for May is set to be released on Friday, June 7. The data is projected to cool down somewhat while remaining relatively steady, avoiding a significant slowdown.

Friday’s report is expected to show an additional 185,000 payroll jobs with unemployment stable at 3.9%.

According to Wells Fargo economists, "the pace of job growth over the next few months will look more like the April pace," which saw an additional 175,000 jobs and a slight increase in unemployment to 3.9%. This data is crucial as it precedes the upcoming FOMC meeting on June 11-12. (Source: Yahoo Finance)

Earnings Season Continues

Earnings releases continue in full swing this week with reports from retailer, tech, and automotive sectors. Here are some of the most anticipated releases:

Tuesday, June 4: 

Wednesday, June 5:

Thursday, June 6:

What will the data reveal about the state of the economy and how might the releases affect the markets?

More Reports to Keep in Mind

Other reports to keep tabs on this week include factory orders data on Tuesday, the US trade deficit on Wednesday, and Friday’s US consumer credit and wholesale inventories.

Moreover, this week, Purchasing Managers Index (PMI) will be released from global economies like the US, the UK, and the Eurozone, providing valuable insights into the state of the manufacturing sector.


In conclusion, the week of June 3, 2024, promises to be eventful for financial markets, with critical data releases and central bank decisions that could influence economic outlooks and market dynamics. 

As central banks like the ECB and BOC make pivotal interest rate decisions, and the US releases its jobs report, investors will be closely monitoring these developments. 

Additionally, earnings reports from key sectors and other economic indicators will provide further insights into the health of the global economy.

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