Week Ahead

Next week the Federal Reserve will be publishing the minutes of its last monetary policy meeting. Other important releases include: US new and existing home sales, durable goods orders and flash Markit PMIs; UK second estimate of Q1 GDP growth, business investment, consumer and producer inflation rates, and retail trade; Eurozone flash Markit PMIs and consumer confidence; Japan trade balance and preliminary Nikkei Manufacturing PMI.

In the US investors await the release of the FOMC minutes on Wednesday, anticipating further clues on the timing of the next interest rate hike. Important economic data include: new and existing home sales; durable goods orders; flash Markit PMIs; Chicago Fed National Activity Index; Richmond Fed Manufacturing Index; Kansas Fed Manufacturing Index; FHFA house price index; and the final reading of Michigan consumer sentiment.

The UK will publish its second estimate of first quarter GDP growth, alongside business investment, consumer and producer inflation rates, retail trade, CBI factory orders, UK Finance mortgage approvals, and public sector net borrowing. Elsewhere in Europe, investors will turn their attention to flash Markit PMIs for the Eurozone, Germany and France. Other key highlights include: Eurozone flash consumer sentiment; Germany Q1 GDP growth final estimate, and business and consumer confidence; and France unemployment rate and industry morale.

In Japan analysts are eyeing the publication of trade balance and the flash reading of Nikkei Manufacturing PMI. Meanwhile in Australia markets will focus on construction work done for the first quarter of the year.

Other important releases include: Mexico final Q1 GDP growth and trade balance; Thailand Q1 GDP growth rate and foreign trade; South Korea interest rate decision; Malaysia inflation; and South Africa interest rate decision and inflation rate.



Joana Ferreira | joana.ferreira@tradingeconomics.com
5/18/2018 2:45:35 PM



 


Friday May 18 2018 Actual Previous Consensus
06:00 AM
DE
PPI MoM APR 0.5% 0.1%
07:00 AM
US
Fed Mester Speech
08:00 AM
PL
Employment Growth YoY APR 3.7% 3.7%
08:45 AM
SK
Unemployment Rate APR 5.4% 5.6%
09:00 AM
EA
Balance of Trade MAR €26.9B €18.9B
12:30 PM
CA
Inflation Rate YoY APR 2.2% 2.3%
12:30 PM
CA
Core Inflation Rate YoY APR 1.5% 1.4%
12:30 PM
CA
Inflation Rate MoM APR 0.3% 0.3%
12:30 PM
CA
Retail Sales MoM MAR 0.6% 0.5% ®
12:30 PM
CL
GDP Growth Rate YoY Q1 4.2% 3.3%
12:30 PM
CL
GDP Growth Rate QoQ Q1 1.2% 0.7% ®
01:15 PM
US
Fed Brainard Speech
01:15 PM
US
Fed Kaplan Speech
Sunday May 20 2018 Actual Previous Consensus
11:50 PM
JP
Exports YoY APR 7.8% 2.1%
11:50 PM
JP
Balance of Trade APR ¥626B ¥797B
Monday May 21 2018 Actual Previous Consensus
02:30 AM
TH
GDP Growth Rate YoY Q1 4.8% 4%
02:30 AM
TH
GDP Growth Rate QoQ Q1 2.0% 0.5%
07:30 AM
NG
GDP Growth Rate YoY Q1 1.9% 2.1% ®
07:30 AM
NG
GDP Growth Rate QoQ Q1 -13.4% 4.7% ®
09:00 AM
SI
Unemployment Rate MAR 8.6% 9.1%
12:30 PM
US
Chicago Fed National Activity Index APR 0.34 0.32 ®
04:15 PM
US
Fed Bostic Speech
06:15 PM
US
Fed Harker Speech
06:30 PM
BR
Business Confidence MAY 55.5 56.7
09:30 PM
US
Fed Kashkari Speech
Tuesday May 22 2018 Actual Previous Consensus
03:30 AM
TH
Balance of Trade APR $-1.28B $1.27B
07:30 AM
SE
Unemployment Rate APR 6.8% 6.5%
08:00 AM
ES
Balance of Trade MAR €-0.83B €-2.17B
08:00 AM
TW
Unemployment Rate APR 3.69% 3.67%
08:15 AM
GB
BoE Gov Carney Speech
08:15 AM
GB
BoE Ramsden Speech
08:15 AM
GB
BoE Saunders Speech
08:15 AM
GB
BoE Vlieghe Speech
09:00 AM
GB
BoE Inflation Report Hearings
10:00 AM
LV
Unemployment Rate Q1 8.2% 8.1%
10:00 AM
LU
Unemployment Rate APR 5.6% 5.7%
10:00 AM
GB
CBI Industrial Trends Orders MAY -3 4
11:00 AM
DE
Bundesbank Monthly Report
12:00 PM
HU
Deposit Interest Rate MAY -0.15% -0.15%
12:00 PM
HU
Interest Rate Decision 0.9% 0.9%
01:00 PM
RU
Unemployment Rate APR 4.9% 5%
01:30 PM
NG
Interest Rate Decision 14% 14%
08:00 PM
AR
Interest Rate Decision 40% 40%
08:30 PM
US
API Crude Oil Stock Change 18/MAY -1.3M 4.854M ®
Wednesday May 23 2018 Actual Previous Consensus
12:30 AM
JP
Nikkei Manufacturing PMI Flash MAY 52.5 53.3
01:30 AM
AU
Construction Work Done QoQ Q1 0.2% -18.3% ®
04:00 AM
MY
Inflation Rate YoY APR 1.4% 1.3%
04:30 AM
NL
Consumer Confidence MAY 23 25
05:30 AM
FR
Unemployment Rate Q1 9.2% 9% ®
06:00 AM
FI
Unemployment Rate