Calendar for the week

On Monday, May 21, only the first half of the day will be full of statistics. In addition, activity in the market will be understated because of the weekend in Germany, Switzerland and Canada. Also, OPEC meeting is expected on this day.

• At 01:45 – data on retail sales in New Zealand.
• At 02:50 – data on the trade balance of Japan.

On Tuesday, May 22, the day is not full of data.

• At 13:00 – the index of industrial orders (CBI) in the UK.
• At 15:30 – the volume of wholesale sales in Canada (m/m).
• At 17:30 – weekly stocks of crude oil in the US according to the American Petroleum Institute (API).

On Wednesday, May 23, the day is full with data due to the publication of statistics on business activity, but in addition it is worth highlighting data on Germany’s GDP, inflation in the UK and US housing sales.

• At 04:30 – complete construction work in Australia (q/q) and Australian consumer sentiment index from Westpac.
• At 09:00 – the GDP of Germany.
• At 10:30 – the index of business activity in the manufacturing sector (PMI) of Germany and the index of business activity in the German services sector.
• At 11:00 – the speech of the head of the Reserve Bank of Australia Louie.
• Also, at 11:00 – the index of business activity in the manufacturing sector (PMI) of the euro area and the index of business activity in the services sector in the euro area.
• At 11:30 – the consumer price index (CPI) in the UK and the price index for housing in the UK from Halifax.
• At 16:45 – the index of business activity in the manufacturing sector (PMI) of the United States and the index of business activity (PMI) in the US services sector.
• At 17:00 – the sale of new housing in the US.
• At 17:30 – reserves of crude oil in the US.
• At 21:00 – the publication of the FOMC protocols.

On Thursday, May 24, the day is also full of data on Europe and the US.

• At 01:45 – a trade balance of New Zealand.
• At 11:30 – the volume of retail sales in the UK.
• At 12:00 – the Bank of England’s report on inflation.
• At 14:30 – the minutes of the ECB meeting on monetary policy.
• At 15:30 – a number of initial applications for unemployment benefits in the US.
• At 17:00 – sales in the secondary housing market in the United States.

On Friday, May 25, the market will be focused on preliminary data on UK GDP and the speech of US Federal Reserve Chairman Powell.

• At 02:30 – the basic consumer price index (CPI) will be released in Tokyo (Japan) (y/y).
• At 11:00 – the index of the business climate IFO Germany.
• At 11:30 – the GDP of Great Britain.
• At 15:30 – the base orders for durable goods in the US (m/m).
• At 4:00 pm – the speech of the US Federal Reserve Chairman Mr. Powell.
• At 20:00 – a number of drilling rigs in the US from Baker Hughes.

Hanzenko Anton