Weekly Economic Calendar

May 13 – May 17, 2024 Economic report and policy meetings

May 12

New Zealand:  Services NZ PSI – April   

May 13

Brazil:  Brazilian Central Bank (BCB) Focus Market Readout, Business Confidence - May

Canada:  Building Permits (MoM) – March

Euro-Zone:  Germany: Inflation Rate (YoY) Final – April, Inflation Rate (MoM) – Final

India:  Inflation Rate (YoY) – April

Japan:  Producer Price Index (PPI) (MoM) – April, PPI (YoY) – April   

New Zealand:  Electronic Retail Card Spending (MoM) – April, Electronic Retail Card Spending (YoY) – April      

Switzerland:  Consumer Confidence – April

U.K.:  Employment Change – March, Unemployment Rate – March, Average Earnings including Bonus (3Mo/Yr.) – March, Claimant Count Change – April

May 14

Australia:  Wage Price Index (YoY) – 1^st Qtr.

Brazil:  Brazilian Central Bank (BCB) Copom Meeting Minutes     

Euro-Zone:  ZEW Economic Sentiment Index – May, Germany: ZEW Economic Sentiment Index – May, ZEW Current Conditions – May, France: Inflation Rate (MoM) Final – April, Inflation Rate (YoY) Final – April

Indonesia:  Balance of Trade – April       

South Africa:  Unemployment Rate – 1^st Qtr.

Thailand:  GDP Growth Rate (QoQ) – 1^st Qtr., GDP Growth Rate (YoY) – 1^st Qtr.

U.S.:  Producer Price Index (PPI) (MoM) – April

May 15

Australia:  Employment Change – April, Unemployment Rate – April, Full Time Employment Change – April, Reserve Bank of Australia (RBA) Hunter Speech   

Euro-Zone:  GDP Growth Rate (QoQ) 2^nd Estimate – 1^st Qtr., GDP Growth Rate (YoY) 2^nd Estimate – 1^st Qtr., Industrial Production (YoY) – March

India:  Balance of Trade – April

Japan:  GDP Growth Annualized Preliminary – 1^st Qtr., Foreign Bond Investment – May 11^th, GDP Growth Rate (QoQ) Preliminary – 1^st Qtr.

Netherlands:  GDP Growth Rate (QoQ) Flash – 1^st Qtr., GDP Growth Rate (YoY) Flash – 1^st Qtr., Unemployment Rate – April

Poland:  GDP Growth Rate (QoQ) Preliminary – 1^st Qtr., GDP Growth Rate (YoY) Preliminary – 1^st Qtr.

Russia:  Balance of Trade – March, GDP Growth Rate (YoY) Preliminary – 1^st Qtr.

U.S.:  Core Inflation Rate (YoY) – April, Inflation Rate (YoY) – April, Retail Sales (MoM) – April, Core Inflation Rate (MoM) – April, Consumer Price Index (CPI) – April, CPI s.a. – April, Inflation Rate (MoM) – April, Retail Sales Excluding Autos (MoM) – April, Retail Sales Excluding Gas/Autos (MoM) – April, Business Inventories (MoM) – March, National Association of Home Builders (NAHB) Housing Market Index – May, Net Long-term Treasury International Capital (TIC) Flows – March, MBA Survey Indexes - Mortgage Market Index, Mortgage Applications (May 10), Mortgage Market Change, Mortgage Refinance Index, Refinancing Change, MBA Mortgage Approvals (May 10), Department of Energy (DOE) U.S. Crude Oil Inventories (May 10), DOE Cushing OK Crude Inventory (May 10), DOE U.S. Gasoline Inventories (May 10), DOE U.S. Distillate Inventory (May 10), DOE U.S. Refinery Utilization (May 10), DOE Crude Oil Implied Demand (May 10)

The Bureau of Labor Statistics releases the consumer price index for April.  Consensus estimate is for a 3.4% year-over-year increase, one-tenth of a percentage point less than in March.  The core CPI, which excludes volatile food and energy prices, is seen rising 3.6%, compared with 3.8% previously.  The battle pushing up the yield on the 10-year Treasury not from 3.89% to 4.70% through the end of April.  Federal Reserve Chair Jerome Powell’s early-May FOMC news conference, where he made it clear that the bar for raising interest rates further was very high, led to yields coming back down to 4.50%.  The Census Bureau releases retail sales data for April.  Economists forecast a 0.4% month-over-month increase in retail and food-services sales, 0.7% gain in March.  Excluding autos, retail sales are expected to rise 0.2%, following a 1.1% jump previously.

May 16

China:  House Price Index (YoY) – April, Fixed Asset Investment YTD (YoY) – April Industrial Production (YoY) – April, Retail Sales (YoY) – April, Unemployment Rate – April

Euro-Zone:  Italy: Inflation Rate (YoY) Final – April, Balance of Trade – March, France: Unemployment Rate – 1^st Qtr.

Japan:  Industrial Production (YoY) Final – March

Philippines:  Interest Rate Decision

South Korea:  Unemployment Rate – April

Switzerland:  Industrial Production (YoY) – 1^st Qtr.

U.S.:  Building Permits Preliminary – April, Building Permits (MoM) Preliminary – April, Housing Starts (MoM) – April, Continuing Jobless Claims – May 4, Initial Jobless Claims – May 11, Philadelphia Federal Reserve Manufacturing Index – May, Industrial Production (MoM) – April, Industrial Production (YoY) – April, Federal Reserve’s Bostic Speech

May 17

Canada:  New Housing Price Index (YoY)  April

 China:  Foreign Direct Investment (FDI) YTD (YoY) - April  

Euro-Zone:  Core Inflation Rate (YoY) Final – April, Inflation Rate (MoM) Final – April, Inflation Rate (YoY) Final – April   

Russia:  Inflation Rate (MoM) – April, Inflation Rate (YoY) – April    

U.S.:  Conference Board Leading (Economic) Index (MoM) – April, Baker Hughes U.S. Rig Count – May 17

Bold denotes likely market-moving newsflash which traders consider significant to foreign exchange levels or otherwise important/noteworthy information, i.e., market holiday’s which will affect standard settlement dates.