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May 26, 2019

The Week Ahead

Nyandabeh Ella Vincent



Monday

UK – late May bank holiday
US – Memorial Day holiday

Tuesday

7am – German GfK consumer confidence (June): forecast to fall to 10.3 from 10.4. Markets to watch: EUR crosses
10am – eurozone business confidence (May): expected to rise to 0.49 from 0.42. Markets to watch: EUR crosses

Wednesday

7.45am – French GDP (Q1, final): growth forecast to be 0.3% QoQ. Markets to watch: EUR crosses
8.55am – German unemployment (May): rate to hold at 4.9%, while the number of unemployed falls by 5000. Markets to watch: EUR crosses
3pm – Bank of Canada rate decision: no change in rates expected from current 1.75%. Markets to watch: CAD crosses

Thursday

1.30pm – US GDP growth (Q1, 2nd estimate), initial jobless claims (w/e 25 May): QoQ growth expected to be 3.2% from 2.2%. Markets to watch: US indices, USD crosses
3pm – US pending home sales (April): sales to rise 1.1% MoM. Markets to watch: USD crosses

Friday

Theresa May quits as Prime Minister: Theresa May has finally called it a day. The focus turns promptly to her successor, with that process kicking off the following week.
2am – China NBS mfg PMI, Caixin non-mfg PMI (May): mfg PMI to fall to 49.9 from 50.1, while non-mfg PMI to fall to 51.4 from 54.3. Markets to watch: China indices, CNH crosses
6am – Japan consumer confidence (May): expected to rise to 40.5 from 40.4. Markets to watch: JPY crosses
1pm – German CPI (May, preliminary): prices to rise by 1.5% YoY from 2%, and 0.2% from 1% MoM. Markets to watch: EUR crosses
1.30pm – US personal income and spending (April): spending to rise 0.2% from 0.9% and income to rise 0.2% from 0.1% MoM. Markets to watch: USD crosses
1.30pm – Canada GDP (Q1): growth forecast to be 0.5% from 0.1% QoQ. Markets to watch: CAD crosses
2.45pm – US Chicago PMI (May): index to rise to 53.7 from 52.6. Markets to watch: US indices, USD crosses
3pm – US Michigan consumer sentiment (May, final): index expected to rise to 100 from 97.2. Markets to watch: USD crosses

Source: IG

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