Macro Week Ahead: Markets Watch for a U.S.-Iran Breakthrough; Fed Chair Walsh Set for First FOMC Remarks

ME News reported that as of June 13 (UTC+8), comments from Trump, Iran's foreign minister and Pakistan's prime minister point to the U.S. and Iran being closer than at any time in recent memory to a potential peace agreement. Markets will be watching closely over the weekend for signs that a U.S.-Iran deal could be signed. Attention then turns to next week's heavy slate of major central-bank decisions, led by the Federal Reserve. Since taking office, Fed Chair Walsh has kept a low profile. The press conference after the June rate decision is expected to be the first major test of his policy leanings, with investors also looking for clearer guidance on possible changes to the Fed's communication framework. Key events to watch next week (times in Beijing): - Monday 20:30: U.S. June New York Fed Manufacturing Index - Monday 21:15: U.S. May Industrial Production (m/m) - Tuesday 20:15: U.S. ADP Employment Change (week ending May 30) - Wednesday 22:30: U.S. EIA Crude Oil Inventories (week ending June 12) - Thursday 02:00: FOMC rate decision and Summary of Economic Projections - Thursday 02:30: Fed Chair Walsh monetary policy press conference - Thursday 20:30: U.S. Initial Jobless Claims (week ending June 13); U.S. June Philadelphia Fed Manufacturing Index - Thursday 22:00: U.S. May Conference Board Leading Economic Index (m/m) Trading schedule notes: - Thursday, June 18: Ahead of the Dragon Boat Festival, China's Shanghai Gold Exchange, Shanghai Futures Exchange, Zhengzhou Commodity Exchange and Dalian Commodity Exchange will suspend night trading. - Friday, June 19: For Juneteenth, the New York Stock Exchange will close for the day. CME Group's precious metals, energy, FX, equity index and U.S. Treasury futures will end trading early at 01:00 Beijing time on June 20. ICE Brent crude futures will end trading early at 01:30 Beijing time on June 20. (Source: PANews)