PGI22 June 2026

This week isn't about central banks.

It's about whether inflation is reaccelerating while growth remains resilient.

(Forecasts vs previous data below — actuals will drive the move.)

Monday

Inflation Returns To Focus

Canada Inflation
CPI m/m1.0% vs 0.7%
Median CPI y/y2.1% vs 2.1%
Trimmed CPI y/y2.0% vs 2.0%
Common CPI y/y2.7% vs 2.5%
Europe Central Bank
ECB President Lagarde Speaks

Markets begin the week focused on Canadian inflation and what it means for future Bank of Canada policy.

Tuesday

Global Growth Check

Europe PMIs
French Manufacturing PMI50.2 vs 49.7
French Services PMI45.9 vs 44.3
German Manufacturing PMI50.3 vs 50.1
German Services PMI49.0 vs 48.1
UK PMIs
Manufacturing PMI53.5 vs 53.9
Services PMI50.1 vs 49.3
Canada Central Bank
BOC Governor Macklem Speaks
US PMIs
Manufacturing PMI54.6 vs 55.1
Services PMI51.1 vs 50.7

Growth momentum comes into focus as traders assess the health of major economies heading into month-end.

Wednesday

Australian Inflation Takes Centre Stage

Australia Inflation
CPI m/m-0.4% vs 0.4%
CPI y/y4.3% vs 4.2%
Trimmed Mean CPI m/m0.3% vs 0.3%

Inflation remains the key variable for the RBA as markets assess whether price pressures are easing fast enough.

Thursday

Inflation Meets Growth

Australia Labour Market
Employment Change31.2K vs -18.6K
Unemployment Rate4.4% vs 4.5%
US Inflation
Core PCE Price Index m/m0.3% vs 0.2%
US Growth
Final GDP q/q1.6% vs 1.6%
Final GDP Price Index q/q3.5% vs 3.5%
US Labour Market
Unemployment Claims225K vs 226K

This is the key day of the week.

Inflation and growth collide.

Friday

Consumer Sentiment Closes The Week

Japan Inflation
Tokyo Core CPI y/y1.6% vs 1.3%
US Consumer
Revised UoM Consumer Sentiment50.0 vs 48.9
Revised UoM Inflation Expectations4.6%

Markets finish the week assessing inflation expectations and consumer confidence.

Central Bank Backdrop, Rates Remain Restrictive

AUD4.35%
USD3.75%
GBP3.75%
EUR2.40%
CAD2.25%
NZD2.25%
JPY1.00%
CHF0.00%

Divergence continues to drive FX flows.

The Bigger Picture

Everything builds into inflation vs growth vs policy.

Actual data vs expectationsthe move.
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