The week ahead – Economic data and central bank chatter in brief


On the macro

It’s a calmer week ahead on the economic calendarwith 47 stats targeted in the week ending May 13. In the previous week, 62 stats were targeted.

For dollars:

Inflation is back in the spotlight, with consumer and wholesale price inflation figures due out on Wednesday and Thursday.

Another spike in inflation would test support for riskier assets following last week’s Fed forecast.

Early unemployment insurance claims on Thursday will also spark interest ahead of Friday’s consumer sentiment numbers.

While the statistics will influence, updates on the war in Ukraine and discussions from FOMC members will also need to be watched.

In the week ending 6and In May, the Dollar Spot Index rose 0.68% to 103.660.

For their:

ZEW Economic Sentiment figures for Germany and the Eurozone will be the main focus on Tuesday.

On Friday, Eurozone industrial production figures will influence.

Other statistics for the week include Member States’ final inflation figures for May which should have a moderate impact on the euro.

ECB President Lagarde will also be of interest on Wednesday, with markets looking for any forward guidance on monetary policy.

For the week, the USD rose 0.06% to $1.0551.

For the pound:

It’s been a busy week, with key statistics such as first quarter GDP and industrial and manufacturing production figures for March.

Trade data and retail sales figures from BRC are also expected, but should have a moderate impact on the pound.

the Grind slid 1.79% to end the week at $1.2348.

For the Loonie:

It’s a quiet week ahead on the economic calendar. There are no hard stats expected from Canada to give direction to the Loonie.

A lack of statistics will leave the Loonie in the hands of geopolitics, OPEC and crude oil prices.

the Loonie ended the week down 0.21% at C$1.2875 against the US dollar.

From Asia Pacific

For the Australian dollar:

Business and consumer confidence will be the main concern over the coming week.

On Tuesday, NAB Business Confidence numbers are expected to be released ahead of Westpac Consumer Sentiment numbers on Wednesday.

The RBA will be watching the numbers as the need to rein in inflationary pressures amid heightened economic uncertainty could test sentiment.

the Australian dollar rose 0.21% to $0.7076.

For the kiwi dollar:

Electronic board retail sales and company PMI numbers are expected to be released in the coming week.

Although the numbers will influence, data and updates from China will remain key.

the kiwi dollar ended the week down 0.74% at $0.6410.

For the Japanese yen:

It’s a relatively quiet week ahead. Final services sector PMI figures for April and household spending figures are expected to be out early this week. Expect both sets of numbers to generate a lot of interest after the latest dovish signals from the BoJ.

the japanese yen fell 0.66% to ¥130.560 against the US dollar.

Outside of China

On Monday, trade data will spark interest as markets seek to gauge the impact of China’s COVID-19 lockdown measures and war in Ukraine on demand.

The inflation figures, expected on Wednesday, will have an influence.

Markets will also look for updates from Beijing on COVID-19 lockdown measures.

The Chinese yuan ended the week down 0.88% at CNY 6.6667 against the US dollar.

Geopolitics

Updates on the war in Ukraine and chatter from Russia will require continued monitoring.

This article was originally published on FX Empire

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