Monday, 20th May:
- PBOC Interest Rate Decision – 2:15am BST: The People’s Bank of China (PBOC) maintained interest rates unchanged as expected amid a weak yuan and concerns of capital flight. However, they signalled a willingness to provide further stimulus for banks and the economy.
- FOMC Member Waller Speaks – 2:00pm BST: Federal Reserve Governor Christopher Waller will speak, providing insights into the Fed’s views on economic conditions and future policy moves.
Tuesday, 21st May:
- RBA Meeting Minutes – 2:30am BST: The Reserve Bank of Australia (RBA) releases the minutes from its recent meeting. This document is crucial for AUDUSD and ASX 200 traders, as it may clarify the reasons behind the RBA’s decision to hold rates, potentially moving markets.
- ECB President Lagarde Speaks – 9:00am BST: European Central Bank President Christine Lagarde will address the public, with traders looking for clues on the ECB’s future policy direction.
- CAD Inflation Data (CPI) – 1:30pm BST: Canada’s inflation data will be released, critical for the Bank of Canada’s next interest rate decision. With slowing consumer spending and growth, lower-than-expected print could lead to a rate cut in June, influencing the direction of USDCAD.
- BOE Governor Bailey Speaks – 6:00pm BST: Bank of England Governor Andrew Bailey will speak, with markets keen to gauge the likelihood of a UK rate cut in the near future.
Wednesday, 22nd May:
- RBNZ Interest Rate Decision and Press Conference – 3:00am/4:00am BST: The Reserve Bank of New Zealand is expected to keep rates at 5.50%. Despite previous statements not to cut rates until next year, falling consumer inflation expectations, a stalled economy, and rising unemployment may lead to surprising signals about future rate cuts during the press conference.
- GBP Inflation Data (CPI) – 7:00am BST: UK inflation data is pivotal for the Bank of England’s next move. The outcome could determine whether a rate cut happens in June or later in the year, impacting GBPUSD and UK 100 indices. The BoE is leaning towards a rate cut, but wage growth remains a key factor.
Thursday, 23rd May:
- Global Preliminary Manufacturing and Services PMIs– Various Times: These forward-looking indicators will provide a health check on major economies. Key focus will be on US service activity and Eurozone economic recovery, influencing major stock indices and EURUSD.
- Unemployment Claims – 1:30pm BST: US weekly jobless claims data will be released, offering fresh insights into the labour market’s health.
Friday, 24th May:
- JPY Inflation Data (CPI) – 12:30am BST: Japan’s inflation figures are crucial for the Bank of Japan’s interest rate decisions. A weak print could lead to a rally in USDJPY, prompting potential intervention by Japanese authorities.
- GBP Retail Sales Data – 7:00am BST: UK retail sales figures will be released, providing insights into consumer spending and its impact on economic growth and monetary policy.
- FOMC Member Waller Speaks – 2:35pm BST: Another speech by Federal Reserve Governor Christopher Waller, focusing on monetary policy and economic conditions.
- Revised UoM Consumer Sentiment – 3:00pm BST: The University of Michigan’s revised consumer sentiment index will give a final reading on consumer confidence, influencing market sentiment.
These events are crucial for traders and investors, as they provide significant insights into economic conditions and central bank policies, potentially driving market movements across various asset classes.
