Week commencing 20th May : BST
Overview
This week minutes from the FOMC and RBA, plus UK CPI and Euro flash PMIs dominate the week. Also worth watching will be European parliament elections, and US durable goods orders.
Note:
The following figures reflect the expectations of the market as of Sunday. You should obtain up-to-date expectations for each event as it draws nearer.
I strongly recommend using the Talking-Forex service to stay abreast of all market expectations and data outcomes.
Monday
12.50am – Japan GDP (Q1, preliminary): expected to be 0% QoQ from 0.5%. Markets to watch: Nikkei 225, JPY crosses
1.30pm – US Chicago Fed index (April): expected to hold at -0.1. Markets to watch: US indices, USD crosses
Tuesday
2.30am – RBA minutes: these will detail the discussion at the last meeting. Markets to watch: AUD crosses
3pm – eurozone consumer confidence (May, flash): expected to fall to -8.6. Markets to watch: EUR crosses
3pm – US new home sales (April): sales to rise 1.5% from -4.9% a month earlier. Markets to watch: US indices, USD crosses
Wednesday
12.50am – Japan trade balance (April): exports expected to fall 2.7%. Markets to watch: JPY crosses
9.30am – UK CPI (April): overall CPI to rise 2% YoY and 0.3% MoM, while core CPI forecast to rise 1.9% YoY and 0.2% MoM. Markets to watch: GBP crosses
3.30pm – US EIA crude inventories (w/e 17 May): stockpiles rose by 5.4 million barrels a week earlier. Markets to watch: Brent, WTI
7pm – US FOMC minutes: the Fed left rates unchanged at the last meeting, and these will outline the discussion behind the decision. Markets to watch: US indices, USD crosses
Thursday
Voting begins in EU elections
1.30am – Japan Nikkei mfg PMI (May, flash): expected to rise to 52 from 50.2. Markets to watch: Nikkei 225, JPY crosses
7am – German GDP (Q1, final): expected to be 0.4% QoQ and 0.7% YoY. Markets to watch: EUR crosses
8.15am – 9am – French, German, eurozone mfg & services PMI (May, flash): German mfg PMI to rise to 46 from 44.4. Markets to watch: eurozone indices, EUR crosses
9am – German IFO index (May): business climate index to rise to 99.5 from 99.2. Markets to watch: EUR crosses
1.30pm – US initial jobless claims (w/e 18 May): previous week’s reading 212K. Markets to watch: US indices, USD crosses
2.45pm – US mfg & services PMI (May, flash): mfg to fall to 51.6 and services to fall to 52.5. Markets to watch: US indices, USD crosses
3pm – US new home sales (April): sales to fall 3.2% MoM. Markets to watch: US indices, USD crosses
Friday
12.30am – Japan CPI (April): expected to rise 0.3% YoY from 0.5%, core CPI to rise 0.7% YoY from 0.8%. Markets to watch: JPY crosses
9.30am – UK retail sales (April): sales forecast to rise 4.1% YoY and fall 0.6% MoM. Markets to watch: GBP crosses
1.30pm – US durable goods orders (April): orders to fall 1.8% MoM overall, and fall 0.3% MoM excluding transportation orders. Markets to watch: US indices, USD crosses
Source: Chris Beauchamp, Market Analyst
