BlockBeats News, June 7th. Following the much stronger-than-expected non-farm payroll data released on June 5th, the market significantly increased its expectations for a Fed rate hike later this year. Spot gold continued to decline for the fourth consecutive week, with Deutsche Bank lowering its gold target price to $4800 per ounce. The US Dollar Index surged to just above the 100 level. Non-dollar currencies generally maintained narrow fluctuations against the dollar, with the Japanese Yen under pressure. The USD/JPY pair touched near 160 multiple times, prompting the market to once again focus on whether the Japanese authorities will intervene.

Next Wednesday and Thursday will see the release of the June Consumer Price Index (CPI) and Producer Price Index (PPI) reports, which are highly anticipated by the market. Forecasts indicate that both the nominal and core CPI year-on-year growth rates in the US will further accelerate, expected to reach 4.2% (the highest level since June 2023) and 3%, respectively. This result is likely to trigger a significant impact on the global financial markets.

Meanwhile, SpaceX is set to debut on the Nasdaq on June 12th under the ticker symbol "SPCX." The company's IPO price is set at $135 per share, aiming to raise $75 billion. SpaceX received about $150 billion in investor subscription funds for this IPO, double the fundraising target, setting a new global IPO record. Here is an overview of key macro events and data for the week:

Monday

US May New York Fed's 1-year ahead inflation expectations

US ADP Employment Change for the week ending May 23rd

Tuesday

US April Wholesale Inventories m/m

US API Crude Oil Stock Change for the week ending June 5th

China May CPI y/y

Wednesday

US May Non-seasonally adjusted CPI, US May Seasonally adjusted Core CPI m/m

Bank of Canada Interest Rate Decision up to June 10th

US EIA Crude Oil Stocks Change, Cushing Crude Oil Stocks Change, US EIA Strategic Petroleum Reserves as of June 5th

Oracle to report Q4 FY2026 earnings after the market close

Thursday

Eurozone ECB Deposit Facility Rate, Main Refinancing Rate as of June 11th

US Initial Jobless Claims for the week ending June 6th

US May PPI

US EIA Natural Gas Storage for the week ending June 5th

Adobe to release Q2 FY2026 earnings after the market close

Friday

SpaceX IPO

U.S. June Core Inflation Rate Expectation

U.S. June University of Michigan Consumer Sentiment Index Preliminary