Economic calendar | May 22 – 26

Monday, May 22

As is often the case, Monday is again accompanied by a completely empty economic calendar. But even if some data were published, they would most likely be ignored by the market, since the focus at the beginning of the week will be the results of the G7 summit, which ended last weekend. The G7 countries have imposed new sanctions against Russia, which could lead to another chaos in the energy market. And this will inevitably affect all markets without exception, including the currency market. So investors will win back the results of the summit.

Tuesday, May 23

On Tuesday, almost all countries, except for the eurozone, publish preliminary estimates of business activity indices, which will lead to a weakening of the dollar, as the United States is expected to decline in all key indicators. But in Japan, Australia and Great Britain, on the contrary, growth of indices is predicted.

Wednesday, May 24

Wednesday will begin with the decision of the central bank of New Zealand on the interest rate. Market participants predict that the rate will be increased by 0.25 percentage points, to 5.50% per annum. 

But the most significant event of Wednesday will be the publication of data on inflation in the UK. Consumer price growth is expected to slow from 10.1% to 8.5%, which could put the pound under serious pressure that will affect other currencies as well. But the dollar, on the contrary, can demonstrate a fairly significant growth.

Thursday, May 25

Thursday will be a relatively quiet and calm day. The only thing to watch out for on this day is US jobless claims. However, a slight increase in their number is expected, so this will not have any significant impact on the market.

In the same way, the second estimate of the United States GDP for the first quarter will not affect the mood of market participants, since the data should coincide with the first estimate already taken into account by the market.

Friday, May 26

But the end of the trading week can become quite intense and accompanied by a sharp increase in volatility. But only if the data on inflation in Japan does not coincide with forecasts suggesting that the indicator will remain at the current level of 3.5%.

Retail sales data in the UK will be able to revive the market. Moreover, the rate of their decline may slow down from -3.1% to -2.6%. And this, despite the fall, is still a positive signal, and the pound will be able to strengthen its position somewhat. It is also worth paying attention to the volume of retail sales in the country.