Upcoming economic events 6 June 2025

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
01:30		2 points	Building Approvals (MoM) (Apr)	-5.7%	-8.8%
08:30		2 points	ECB President Lagarde Speaks	———-	———-
09:00		2 points	GDP (QoQ) (Q1)	0.3%	0.2%
09:00		2 points	GDP (YoY)	1.2%	1.2%
12:30		2 points	Average Hourly Earnings (YoY) (YoY) (May)	3.7%	3.8%
12:30		3 points	Average Hourly Earnings (MoM) (May)	0.3%	0.2%
12:30		3 points	Nonfarm Payrolls (May)	127K	177K
12:30		2 points	Participation Rate (May)	———-	62.6%
12:30		2 points	Private Nonfarm Payrolls (May)	110K	167K
12:30		2 points	U6 Unemployment Rate (May)	———-	7.8%
12:30		3 points	Unemployment Rate (May)	4.2%	4.2%
17:00		2 points	U.S. Baker Hughes Oil Rig Count	———-	461
17:00		2 points	U.S. Baker Hughes Total Rig Count	———-	563
19:00		2 points	Consumer Credit (Apr)	11.30B	10.17B
19:30		2 points	CFTC Crude Oil speculative net positions	———-	186.4K
19:30		2 points	CFTC Gold speculative net positions	———-	174.2K
19:30		2 points	CFTC Nasdaq 100 speculative net positions	———-	17.0K
19:30		2 points	CFTC S&P 500 speculative net positions	———-	-53.0K
19:30		2 points	CFTC AUD speculative net positions	———-	-61.2K
19:30		2 points	CFTC JPY speculative net positions	———-	164.0K
19:30		2 points	CFTC EUR speculative net positions	———-	79.5K

Summary of Upcoming Economic Events on June 6, 2025

Australia

1. Building Approvals (MoM) (Apr) – 01:30 UTC

• Forecast: -5.7% | Previous: -8.8%
• Market Impact:
  • Continued weakness in construction may indicate housing market contraction, pressuring AUD and local equities.
  • A smaller-than-expected drop could provide some support to AUD.

Eurozone

2. ECB President Lagarde Speaks – 08:30 UTC

• Market Impact:
  • Comments will be analyzed for post-rate cut outlook and stance on inflation trajectory.
  • Hawkish tone could support EUR and bond yields.

3. GDP (QoQ & YoY) (Q1) – 09:00 UTC

• Forecast (QoQ): 0.3% | Previous: 0.2%
• Forecast (YoY): 1.2% | Previous: 1.2%
• Market Impact:
  • Steady growth supports mild optimism for Eurozone recovery.
  • Weak figures could confirm stagnation, dampening EUR and ECB credibility.

United States

4. Nonfarm Payrolls (May) – 12:30 UTC

• Forecast: 127K | Previous: 177K
• Market Impact:
  • A decline would suggest labor market softening, reinforcing rate cut bets and potentially pressuring USD.
  • A strong number could delay Fed easing and lift yields and the dollar.

5. Average Hourly Earnings (MoM & YoY) (May) – 12:30 UTC

• Forecast (MoM): +0.3% | Previous: +0.2%
• Forecast (YoY): 3.7% | Previous: 3.8%
• Market Impact:
  • Wage data is key for inflation outlook. Persistent strength could concern markets, triggering rate-hike speculation.

6. Private Nonfarm Payrolls (May) – 12:30 UTC

• Forecast: 110K | Previous: 167K
• Market Impact:
  • Confirms trends from headline payrolls. Weakness may support dovish Fed positioning.

7. Unemployment Rate & U6 Rate (May) – 12:30 UTC

• Forecast (UR): 4.2% | Previous: 4.2%
• Market Impact:
  • Steady or rising unemployment rate may reflect labor slack, furthering Fed dovish bias.

8. Participation Rate (May) – Previous: 62.6%

• Market Impact:
  • A drop may support wage pressure; a rise signals more labor availability, easing inflation concerns.

9. U.S. Baker Hughes Rig Counts – 17:00 UTC

• Previous Crude: 461 | Total: 563
• Market Impact:
  • Changes impact supply outlook for crude oil and energy equities.

10. Consumer Credit (Apr) – 19:00 UTC

• Forecast: 11.30B | Previous: 10.17B
• Market Impact:
  • Rising consumer credit supports spending strength, but excessive growth raises debt sustainability concerns.

11. CFTC Net Positioning (Various Assets) – 19:30 UTC

• Crude Oil, Gold, Nasdaq 100, S&P 500, AUD, JPY, EUR
• Market Impact:
  • Shifts in net speculative positions offer insight into market sentiment and future positioning.

Market Impact Analysis

• The U.S. jobs report (NFP, earnings, unemployment) is the main driver, with high potential for volatility in FX, yields, and equities.
• Eurozone GDP and Lagarde’s remarks provide follow-up insight post-ECB rate decision, impacting EUR direction and rate outlook.
• CFTC positioning helps shape weekend sentiment and short-term momentum trades.

Overall Impact Score: 9/10

Key Focus:
Markets will center on the U.S. labor report, which will either reinforce or challenge the narrative for rate cuts in 2025. With Eurozone growth data and ECB tone also on the agenda, expect high volatility in USD, EUR, yields, and commodities, especially with oil and gold positioning updated late in the session.