Monday, 27 May, 2024
Holiday – Bank Holiday
United Kingdom
Holiday – Memorial Day
United States
(GMT -4) Est Time: 04:00
Importance: Medium
German Business Expectations (May)
| Actual | |
| Forecast | 90.5  |
| Previous | 89.9 |
Currency : EUR
Source of Report: Ifo Institute for Economic Research (Release URL)
German Business Expectations uses survey responses to gauge the expectations of businesses in Germany for the next six months. It is forward-looking sub-index of the German Ifo Business Climate Index.
A reading that is stronger than forecast is generally supportive (bullish) for the EUR, while a weaker than forecast reading is generally negative (bearish) for the EUR.
(GMT -4) Est Time: 04:00
Importance: Medium
German Business Assessment (May)
| Actual | |
| Forecast | 89.9 |
| Previous | 89.9 |
Currency : EUR
Source of Report: Ifo Institute for Economic Research (Release URL)
The German Current Assessment uses survey results from businesses across Germany to gauge sentiment regarding current business conditions in Germany. It is a sub-index of the German Ifo Business Climate Index.
A reading that is stronger than forecast is generally supportive (bullish) for the EUR, while a weaker than forecast reading is generally negative (bearish) for the EUR.
(GMT -4) Est Time: 08:00
Importance: Medium
ECB’s Lane Speaks 
Currency : EUR
Source of Report:
European Central Bank (Release URL)
Philip R. Lane, member of the Executive Board of the European Central Bank, is set to speak. His speeches often contain indications on the future possible direction of monetary policy.
(GMT -4) Est Time: 09:30
Importance: Medium
German Buba Mauderer Speaks
Currency : EUR
Source of Report:
Bundesbank (Release URL)
(GMT -4) Est Time: 13:45
Importance: Medium
FOMC Member Williams Speaks
Currency : USD
Source of Report:
Federal Reserve (Release URL)
(GMT -4) Est Time: 21:30
Importance: High
Retail Sales (MoM)
| Actual | |
| Forecast | 0.3 % |
| Previous | -0.4 % |
Currency : AUD
Source of Report: Australian Bureau of Statistics (Release URL)
Retail Sales gauges the change in the aggregate value of sales at the retail level across the country. It is an important indicator of consumer spending accounting for the majority of overall economic activity.
A reading that is stronger than forecast is generally supportive (bullish) for the AUD, while a weaker than forecast reading is generally negative (bearish) for the AUD.
Tuesday, 28 May , 2024
(GMT -4) Est Time: 00:55
Importance: Medium
FOMC Member Bowman Speaks
Currency : USD
Source of Report:
Federal Reserve (Release URL)
Michelle W. Bowman took office as a member of the Board of Governors of the Federal Reserve System on November 26, 2018, to fill an unexpired term ending January 31, 2020. Her public engagements are often used to drop subtle clues regarding future monetary policy.
(GMT -4) Est Time: 00:55
Importance: Medium
FOMC Member Mester
Currency : USD
Source of Report:
Federal Reserve (Release URL)
(GMT -4) Est Time: 00:55
Importance: Medium
SNB Board Member Jordan Speaks
Currency : CHF
Source of Report:
Swiss National Bank (Release URL)
Swiss National Bank (SNB) Vice Chairman (May 2007 – January 2012) Thomas Jordan is to speak. In January 2010 his title changed from Board Member to Vice Chairman. As a member of the SNB’s Governing Board, which sets short term interest rates, he has a major influence over the value of the Swiss franc. Traders watch his speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts. His comments may determine a short-term positive or negative trend.
(GMT -4) Est Time: 00:55
Importance: Medium
ECB’s Schnabel Speaks
Currency : EUR
Source of Report:
European Central Bank (Release URL)
Isabel Schnabel, member of the Executive Board of the European Central Bank, is set to speak. Her speeches often contain indications on the future possible direction of monetary policy.
(GMT -4) Est Time: 08:30
Importance: Medium
RMPI (MoM)
| Actual | |
| Forecast | 3.2 % |
| Previous | 4.7 % |
Currency: CAD
Source Of Report: Statistics Canada (Release URL)
The Raw Materials Price Index (RMPI) measures the change in the price of raw materials purchased by manufacturers. In contrast to the industrial product price index, the RMPI includes goods that are not produced in Canada. If input costs rise, some will be absorbed by the producer and some passed on to the consumer. Conversely, if input costs fall, some of the decline will be enjoyed as wider profit margins by the producer and some will be passed on to the consumer in the form of lower prices. Because PPI impacts consumer prices, it is watched by central bankers as part of fulfilling their mandate of price stability.
A reading that is stronger than forecast is generally supportive (bullish) for the CAD, while a weaker than forecast reading is generally negative (bearish) for the CAD.
(GMT -4) Est Time: 10:00
Importance: High
CB Consumer Confidence (May)
| Actual | |
| Forecast | 96.1 |
| Previous | 97.0 |
Currency: USD
Source Of Report: Conference Board (Release URL)
Conference Board (CB) Consumer Confidence measures the level of confidence consumers have in the economy. When consumers are optimistic, they tend to spend more which increases consumption and overall economic growth.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
(GMT -4) Est Time: 21:30
Importance: High
Construction Work Done (QoQ)
| Actual | |
| Forecast | 0.6 % |
| Previous | 0.7 % |
Currency: AUD
Source Of Report: Australian Bureau of Statistics (Release URL)
Construction Work Done reports the change in the total value of completed construction projects throughout Australia versus the prior quarter. It provides an advance indication of trends in building and engineering construction activity. The data is an estimate based on a survey of approximately eighty percent of the value of both building and engineering work performer over the course of the prior quarter.
A reading that is stronger than forecast is generally supportive (bullish) for the AUD, while a weaker than forecast reading is generally negative (bearish) for the AUD.
(GMT -4) Est Time: 21:30
Importance: Medium
BoJ Board Member Adachi Speaks
Currency : JPY
Source of Report:
Bank of Japan (Release URL)
Seiji Adachi serves as Member of the Policy Board of the Bank of Japan (BoJ). His public engagements are often used to drop subtle clues regarding future monetary policy.
Wednesday, 29 May, 2024
(GMT -4) Est Time: 08:00
Importance: High
German CPI (MoM) (May)
| Actual | |
| Forecast | 0.2% |
| Previous | 0.5% |
Currency: EUR
Source Of Report: Federal Statistical Office Germany (Release URL)
The Consumer Price Index (CPI) measures the change in the prices of goods and services from the perspective of the consumer. As Germany has the largest output of any country in the euro-zone, the European Central bank pays very close attention to this figure in its role of maintaining price stability.
A reading that is stronger than forecast is generally supportive (bullish) for the EUR, while a weaker than forecast reading is generally negative (bearish) for the EUR
(GMT -4) Est Time: 08:00
Importance: Medium
Unemployment Rate
| Actual | |
| Forecast | |
| Previous | 7.9% |
Currency: BRL
Source Of Report: IBGE – Instituto Brasileiro de Geografia e Estatística (Release URL)
The Unemployment Rate measures the percentage of the total work force that is not working, yet actively seeking employment.
A reading that is higher than forecast is generally negative (bearish) for the BRL, while a lower than forecast reading is generally supportive (bullish) for the BRL.
(GMT -4) Est Time: 21:30
Importance: Medium
FOMC Member Bostic Speaks
Currency : USD
Source of Report:
Federal Reserve (Release URL)
Federal Reserve Bank of Atlanta President Raphael Bostic. His public engagements are often used to drop subtle clues regarding future monetary policy.
(GMT -4) Est Time: 22:00
Importance: Medium
SNB Board Member Jordan Speaks
Currency : CHF
Source of Report:
Swiss National Bank (Release URL)
Swiss National Bank (SNB) Vice Chairman (May 2007 – January 2012) Thomas Jordan is to speak. In January 2010 his title changed from Board Member to Vice Chairman. As a member of the SNB’s Governing Board, which sets short term interest rates, he has a major influence over the value of the Swiss franc. Traders watch his speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts.
His comments may determine a short-term positive or negative trend.
(GMT -4) Est Time: 21:30
Importance: Medium
Building Approvals (MoM)
| Actual | |
| Forecast | 1.8% |
| Previous | 1.9% |
Currency: AUD
Source Of Report: Australian Bureau of Statistics (Release URL)
Building Approvals (also known as Building Permits) reports the change in the number of new building approvals issued by the government. Building approvals are an important indicator of new housing starts.
A reading that is stronger than forecast is generally supportive (bullish) for the AUD, while a weaker than forecast reading is generally negative (bearish) for the AUD
(GMT -4) Est Time: 21:30
Importance: Medium
Private New Capital Expenditure (QoQ)
| Actual | |
| Forecast | 0.6% |
| Previous | 0.8% |
Currency: USD
Source Of Report:
Australian Bureau of Statistics (Release URL)
Private New Capital Expenditure reports the change in the total inflation-adjusted value of new capital expenditures made by private businesses in Australia versus the prior quarter. Plant and machinery expenditure is important for productivity gains and GDP growth.
A reading that is stronger than forecast is generally supportive (bullish) for the AUD, while a weaker than forecast reading is generally negative (bearish) for the AUD.
Thursday, 30 May, 2024
Holiday
Corpus Christi Day
(GMT -4) Est Time: 08:30
Importance: Medium
KOF Leading Indicators
| Actual | |
| Forecast | 102.2 |
| Previous | 101.8 |
Currency: CHF
Source Of Report: KOF Economic Research Agency (Release URL)
The KOF Leading Indicators Index is designed to predict the direction of the economy over the following six months. The index is a composite reading of 12 economic indicators related to banking confidence, production, new orders, consumer confidence and housing.
A reading that is stronger than forecast is generally supportive (bullish) for the CHF, while a weaker than forecast reading is generally negative (bearish) for the CHF.
(GMT -4) Est Time: 08:30
Importance: High
GDP (QoQ)
| Actual | |
| Forecast | 1.3% |
| Previous | 3.4% |
Currency: USD
Source Of Report: Bureau of Economic Analysis (Release URL)
Gross Domestic Product (GDP) measures the annualised change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
(GMT -4) Est Time: 08:30
Importance: High
Initial Jobless Claims
| Actual | |
| Forecast | 218K |
| Previous | 215K |
Currency: USD
Source Of Report: Department of Labor (Release URL)
Initial Jobless Claims measures the number of people who filed for unemployment insurance for the first time during the past week. This is the most timely U.S. economic data, but the market impact varies from week to week.
A reading that is higher than forecast is generally negative (bearish) for the USD, while a lower than forecast reading is generally supportive (bullish) for the USD.
(GMT -4) Est Time: 11:30
Importance: High
Crude Oil Inventory
| Actual | |
| Forecast | -2.000M |
| Previous | 1.825M |
Currency: USD
Source Of Report: Energy Information Administration (Release URL)
The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.
If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.
If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.
(GMT -4) Est Time: 21:30
Importance: High
Manufacturing PMI
| Actual | |
| Forecast | 50.4M |
| Previous | 50.4M |
Currency: CNY
Source Of Report: China Logistics Information Center (Release URL)
China Manufacturing Purchasing Managers Index (PMI) provides an early indication each month of economic activities in the Chinese manufacturing sector. It is compiled by China Federation of Logistics & Purchasing (CFLP) and China Logistics Information Centre (CLIC), based on data collected by the National Bureau of Statistics (NBS).Li & Fung Research Centre is responsible for drafting and disseminating the English PMI report. Every month questionnaires are sent to over 700 manufacturing enterprises all over China. The data presented here is compiled from the enterprises responses about their purchasing activities and supply situations. The PMI should be compared to other economic data sources when used in decision-making.
A reading that is stronger than forecast is generally supportive (bullish) for the CNY , while a weaker than forecast reading is generally negative (bearish) for the CNY.
Friday, 31 May, 2024
(GMT -4) Est Time: 05:00
Importance: High
CPI (YoY)
| Actual | |
| Forecast | 2.5% |
| Previous | 2.4% |
Currency: EUR
Source Of Report: Eurostat (Release URL)
The Consumer Price Index (CPI) measures the change in the prices of goods and services contained in a basket of consumer items. The Central bank pays very close attention to this figure in its role of maintaining price stability.
A reading that is stronger than forecast is generally supportive (bullish) for the EUR, while a weaker than forecast reading is generally negative (bearish) for the EUR.
(GMT -4) Est Time: 08:30
Importance: High
Core PCE Price Index (MoM)
| Actual | |
| Forecast | 0.2% |
| Previous | 0.3% |
Currency: USD
Source Of Report: Bureau of Economic Analysis (Release URL)
The Core Personal Consumption Expenditure (PCE) Price Index measures the changes in the price of goods and services purchased by consumers for the purpose of consumption, excluding food and energy. Unlike the fixed-weight CPI, PCE is chain-weighted and thus adjusts to changing consumer behaviour. Core PCE is the Fed’s preferred inflation measure and thus receives greater attention.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
(GMT -4) Est Time: 08:30
Importance: High
Core PCE Price Index (YoY) (Apr)
| Actual | |
| Forecast | |
| Previous | 2.8% |
Currency: USD
Source Of Report: Bureau of Economic Analysis (Release URL)
The Core PCE price Index is the less volatile measure of the PCE price index which excludes the more volatile and seasonal food and energy prices. The impact on the currency may go both ways, a rise in inflation may lead to a rise in interest rates and a rise in local currency, on the other hand, during recession, a rise in inflation may lead to a deepened recession and therefore a fall in local currency.
(GMT -4) Est Time: 09:45
Importance: High
Chicago PMI
| Actual | |
| Forecast | 40.8 |
| Previous | 37.9 |
Currency: USD
Source Of Report: ISM-Chicago, Inc (Release URL)
The Chicago Purchasing Managers’ Index (PMI) is a diffusion index incorporating survey results provided by manufacturing firms around the Chicago area. A reading above fifty suggests the manufacturing sector is expanding, while a reading below fifty suggests the manufacturing sector is in contraction. The Chicago PMI can be of some assistance in forecasting the ISM manufacturing PMI.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
(GMT -4) Est Time: 15:30
Importance: High
CFTC S&P 500 Speculative net positions
| Actual | |
| Forecast | |
| Previous | -22.8k |
Currency: USD
Source Of Report: CFTC Commitment of Traders (Release URL)
The Commodity Futures Trading Commission’s (CFTC) weekly Commitments of Traders (COT) report provides a breakdown of the net positions for “”non-commercial”” (speculative) traders in U.S. futures markets.
All data corresponds to positions held by participants primarily based in Chicago and New York futures markets.
The Commitments of Traders report is considered an indicator for analysing market sentiment and many speculative traders use the data to help them decide whether or not to take a long or short position.
Commitments of Traders (COT) data is released each Friday at 3:30pm ET, pending a holiday in the U.S., to reflect the commitments of traders on the prior Tuesday.
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The post Economic Week Ahead: May 27 – 31 , 2024 appeared first on Ox Securities.
