February 24, 2024
London, UK

Key Events in the Week Ahead 15-21 May 2023

Investors Key Events in the week ECB CPI

This week investors focus will be on the US retail sales for April which will be released on Tuesday. The industrial production figures will also be released on Tuesday.

Better than expected CPI figures and higher initial jobless claims increase the likelihood for a cut in interest rates after the summer.

UK wage data foe March will play an important role in the BOE June decision and will bereleased on Tuesday.

Monday, May 15

Event Actual Forecast Previous

01:30 AUD Westpac Consumer Confidence MAY -1.7% 9.4%

06:00 EUR Wholesale Price Index (MoM) APR -0.9% 0.2%

06:00 EUR Wholesale Price Index (YoY) APR -0.7% 2%

06:00 JPY Machine Tool Orders (YoY) APR -15.2%

06:30 CHF Producer and Import Prices (MoM) APR -0.1% 0.2%

06:30 CHF Producer and Import Prices (YoY) APR 1.1% 2.1%

07:00 EUR Eurogroup Meeting Medium 08:30 GBP BoE Monetary Policy Report Hearings

09:00 EUR European Commission releases Economic Growth Forecasts

09:00 EUR Industrial Production s.a. (MoM) MAR -1.8% 1.5%

09:00 EUR Industrial Production w.d.a. (YoY) MAR 1.5% 2%

12:30 CAD Wholesale Sales (MoM) MAR 0% -1.7%

12:30 USD NY Empire State Manufacturing Index MAY -14.1 10.8

20:00 USD Net Long-Term TIC Flows MAR $104.5B $71B

20:00 USD Total Net TIC Flows MAR $59.6B $28B

Monday’s earnings reports: ABST USAS FBIO CGEN DTST CKPT EP DPSI FLNT FULC NU MICR RMTI

Tuesday, May 16 – Retail Sales

Event Actual Forecast Previous

01:30 AUD RBA Meeting Minutes

02:00 CNY Retail Sales (YoY) APR 20.1% 10.6%

02:00 CNY Industrial Production (YoY) APR 10.1% 3.9%

02:00 CNY Fixed Asset Investment (YTD) (YoY) APR 5.2% 5.1%

06:00 GBP Claimant Count Change APR -10.8 28.2

06:00 GBP Claimant Count Rate APR 3.9%

06:00 GBP Average Earnings Excluding Bonus (3Mo/Yr) MAR 6.8% 6.6%

06:00 GBP ILO Unemployment Rate (3M) MAR 3.8% 3.8%

06:00 GBP Average Earnings Including Bonus (3Mo/Yr) MAR 5.1% 5.9%

07:00 EUR EcoFin Meeting

09:00 EUR ZEW Survey – Current Situation MAY -35.3 -32.5

09:00 EUR ZEW Survey – Economic Sentiment MAY -5 4.1

09:00 EUR Trade Balance n.s.a. MAR €-8.9B €4.6B

09:00 EUR Trade Balance s.a. MAR €-5.7B €-0.1B

09:00 EUR Gross Domestic Product s.a. (YoY) Q1 1.3% 1.3%

09:00 EUR Gross Domestic Product s.a. (QoQ) Q1 0.1% 0.1%

09:00 EUR ZEW Survey – Economic Sentiment MAY 8.2 6.4

09:00 EUR Employment Change (QoQ) Q1 0.3% 0.3%

09:00 EUR Employment Change (YoY) Q1 0.4% 1.5%

12:30 CAD Manufacturing Sales (MoM) MAR -0.1% -3.6%

12:30 CAD Consumer Price Index (MoM) APR 0.9% 0.5%

12:30 CAD BoC Consumer Price Index Core (YoY) APR 3.9% 4.3%

12:30 CAD BoC Consumer Price Index Core (MoM) APR 0.7% 0.6%

12:30 CAD Consumer Price Index (YoY) APR 3.7% 4.3%

12:30 CAD Consumer Price Index – Core (MoM) APR 0.3%

12:30 USD Retail Sales ex Autos (MoM) APR 0.5% -0.4% -0.8%

12:30 USD Retail Sales (MoM) APR 0.7% -0.6% -1%

12:30 USD Retail Sales Control Group APR 0% -0.3%

12:55 USD Redbook Index (YoY) MAY 12 1.3%

13:15 USD Industrial Production (MoM) APR 0% 0.4%

13:15 USD Capacity Utilization APR 79.7% 79.8%

14:00 USD Business Inventories MAR 0.1% 0.2%

15:00 NZD GDT Price Index 0% 2.5%

23:50 JPY Gross Domestic Product Deflator (YoY) Q1 1.2% 1.2%

23:50 JPY Gross Domestic Product Annualized Q1 0.7% 0.1%

23:50 JPY Gross Domestic Product (QoQ) Q1 0.1% 0%

Tuesday’s earnings reports: ONON DGLY BVS BIDU HD NXGN PTN KEYS PSFE SSYS SE

Wednesday, May 17

Event Actual Forecast Previous I

00:30 AUD Westpac Leading Index (MoM) APR -0.01%

01:30 AUD Wage Price Index (QoQ) Q1 0.9% 0.8%

01:30 AUD Wage Price Index (YoY) Q1 3.6% 3.3%

04:30 JPY Industrial Production (YoY) MAR -0.7% -0.7%

04:30 JPY Industrial Production (MoM) MAR 0.8% 0.8%

04:30 JPY Capacity Utilization MAR 1.5% 3.9%

05:30 EUR ILO Unemployment Q1 7.3% 7.2%

07:00 CNY FDI – Foreign Direct Investment (YTD) (YoY) APR 4.9%

09:00 EUR Harmonized Index of Consumer Prices (YoY) APR 7% 7%

09:00 EUR Core Harmonized Index of Consumer Prices (MoM) APR 1% 1%

09:00 EUR Core Harmonized Index of Consumer Prices (YoY) APR 5.6% 5.6%

09:00 EUR Harmonized Index of Consumer Prices (MoM) APR 0.7% 0.7%

09:50 GBP BoE’s Governor Bailey speech

12:30 CAD Canadian Portfolio Investment in Foreign Securities MAR $-1.61B

12:30 CAD Foreign Portfolio Investment in Canadian Securities MAR $4.62B

22:45 NZD Producer Price Index – Output (QoQ) Q1 1.3% 0.9%

22:45 NZD Producer Price Index – Input (QoQ) Q1 1.5% 0.5%

23:50 JPY Exports (YoY) APR 5.1% 4.3%

23:50 JPY Imports (YoY) APR -1.4% 7.3%

23:50 JPY Merchandise Trade Balance Total APR ¥-1,423B ¥-754.5B

23:50 JPY Adjusted Merchandise Trade Balance APR ¥-1,208B ¥-1,209.9B

23:50 JPY Foreign Bond Investment MAY 12 ¥-635.2B

23:50 JPY Foreign Investment in Japan Stocks MAY 12 ¥373.1B

Wednsday’s earnings reports: ATGN ARCO JACK CLRO DECK TJX CAN TGT DT TTWO SNPS INVZ WIX OTMO

Thursday, May 18

Event Actual Forecast Previous

01:30 AUD Employment Change s.a. APR 25 53

01:30 AUD Unemployment Rate s.a. APR 3.5% 3.5%

01:30 AUD Participation Rate APR 66.7% 66.7%

01:30 AUD Part-Time Employment APR 19.2

01:30 AUD Full-Time Employment APR 72.2

02:00 NZD Budget Release

12:30 CAD Employment Insurance Beneficiaries Change (MoM) MAR 3%

12:30 USD Initial Jobless Claims 4-week average MAY 12 245.25

12:30 USD Initial Jobless Claims MAY 12 264 Medium 12:30 USD Continuing Jobless Claims MAY 5 1.813

12:30 USD Philadelphia Fed Manufacturing Survey MAY -20 -31.3

14:00 CAD Financial System Review

22:45 NZD Trade Balance NZD (MoM) APR $-1,273M

22:45 NZD Trade Balance NZD (YoY) APR $-16.4B

22:45 NZD Exports APR $6.51B

22:45 NZD Imports APR $7.78B Medium 23:01 GBP GfK Consumer Confidence MAY -33 -30

23:30 JPY National CPI ex Food, Energy (YoY) APR 3.4% 3.8%

23:30 JPY National CPI ex-Fresh Food (YoY) APR 2.7% 3.1%

23:30 JPY National Consumer Price Index (YoY) APR 2.5% 3.2%

Thursday’s earnings reports: BABA WMA AMAT BBWI BRC CLIR DOLE EXP GLOB GAMB ROST WMT

Friday, May 19

Event Actual Forecast Previous

03:00 NZD Credit Card Spending (YoY) APR 12.5% 20.3%

04:30 JPY Tertiary Industry Index (MoM) MAR -0.1% 0.7%

06:00 EUR Producer Price Index (YoY) APR 1.5% 7.5%

06:00 EUR Producer Price Index (MoM) APR -4.5% -2.6%

08:00 EUR Economic Bulletin Medium

12:30 CAD Retail Sales ex Autos (MoM) MAR -0.7%

12:30 CAD Retail Sales (MoM) MAR -0.2%

20:30 AUD CFTC AUD NC Net Positions $-49.2K

20:30 JPY CFTC JPY NC Net Positions ¥-61K

20:30 GBP CFTC GBP NC Net Positions £4.5K

20:30 USD CFTC Gold NC Net Positions $195.8K

20:30 USD CFTC Oil NC Net Positions 216.6

20:30 USD CFTC S&P 500 NC Net Positions $-376K

20:30 EUR CFTC EUR NC Net Positions €179.4K

Friday’s earnings reports: RBC DE FL CINT

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