We’ve got another series of bad economic data releases last week following global economic lockdown. But will we get a meaningful downward
correction after over-month-long rallying in stocks? This week the markets will await another Fed Chair Powell speech along with series of important economic data releases.
The week behind
The recent economic data releases have confirmed
coronavirus impact on global economies. Last week, we’ve got negative (deflationary) U.S. inflation numbers and Friday’s worse-than-expected
Retail Sales data. However,
the economic data releases seem to be priced in by the markets.
The week ahead
What about the coming week? Tuesday’s
Fed Chair Powell’s Testimony will be closely watched by global financial markets. Next we will get the
FOMC Meeting Minutes on Wednesday and the U.S.
PMI numbers on Thursday. We will also get series of important economic data releases from the
Eurozone, U.K. and Australia this week. Let’s take a look at key highlights:
- Tuesday’s Fed Chair Powell Testimony will probably be the most important economic event of the coming week.
- On Wednesday we will get the FOMC Meeting Minutes and on Thursday the U.S. Flash Manufacturing PMI will be released.
- On Wednesday there will be speeches from the Bank of England’s Governor Bailey and the Reserve Bank of Australia’s Governor Lowe.
- There will be a bunch of important economic data releases from the Eurozone: the German ZEW Economic Sentiment on Tuesday, German and French PMI’s along with the ECB’s Monetary Policy Meeting Accounts on Friday
- Oil traders will also await Tuesday’s and Wednesday’s inventories data release.
You will find this week’s the key news releases below (EST time zone). For your convenience, we broken them down per market to which they are particularly important, so that you know what to pay extra attention to, if you have or plan to have positions in one of them. Moreover, we put the particularly important news in bold. This kind of news is what is more likely to trigger volatile movements. The news that are not in bold usually don’t result in bigger intraday moves, so unless one is engaging in a particularly active form of
day trading, it might be best to focus on the news that we put in bold. Of course, you are free to use the below indications as you see fit. As far as we are concerned, we are usually not engaging in any day trading during days with “bold” events on a given market. However, in case of more medium-term trades, we usually choose to be aware of the increased intraday volatility, but not change the currently opened position.
Our Market News Report consists of two different time-related perspectives. The investors’ perspective is only suitable for the long-term investments. The single economic data releases rarely cause major outlook changes. Hence, we will only see a handful of bold markings every week. On the other hand, the traders’ perspective is for traders and day-traders, because the assets’ prices are likely to react on a single piece of economic data. So, there will be a lot more bold markings on potentially market-moving news every week.
Investors’ Perspective
Gold, Silver, and Mining Stocks
Tuesday, May 19
- 10:00 a.m. - Fed Chair Powell Testimony
Wednesday, May 20
- 2:00 p.m. U.S. - FOMC Meeting Minutes
Thursday, May 21
- 9:45 a.m. U.S. - Flash Manufacturing PMI
Crude Oil
Tuesday, May 19
- 10:00 a.m. - Fed Chair Powell Testimony
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
Wednesday, May 20
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - FOMC Meeting Minutes
Thursday, May 21
- 9:45 a.m. U.S. - Flash Manufacturing PMI
- 2:30 p.m. U.S. - Fed Chair Powell Speech
Stock Markets
Tuesday, May 19
- 10:00 a.m. - Fed Chair Powell Testimony
Wednesday, May 20
- 2:00 p.m. U.S. - FOMC Meeting Minutes
Thursday, May 21
- 9:45 a.m. U.S. - Flash Manufacturing PMI
- 2:30 p.m. U.S. - Fed Chair Powell Speech
EUR/USD
Tuesday, May 19
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment
- 10:00 a.m. - Fed Chair Powell Testimony
Wednesday, May 20
- 2:00 p.m. U.S. - FOMC Meeting Minutes
Thursday, May 21
- 9:45 a.m. U.S. - Flash Manufacturing PMI
- 2:30 p.m. U.S. - Fed Chair Powell Speech
Friday, May 22
- 3:15 a.m. Eurozone - French Flash Services PMI
- 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
- 7:30 a.m. Eurozone - ECB Monetary Policy Meeting Accounts
USD/JPY
Tuesday, May 19
- 10:00 a.m. - Fed Chair Powell Testimony
GBP/USD
Tuesday, May 19
- 10:00 a.m. - Fed Chair Powell Testimony
Wednesday, May 20
- 2:00 a.m. U.K. - CPI y/y
- 9:30 a.m. U.K. - BOE Governor Bailey Speech
Thursday, May 21
- 4:30 a.m. U.K. - Flash Services PMI, Flash Manufacturing PMI
- 9:45 a.m. U.S. - Flash Manufacturing PMI
Friday, May 22
- 2:00 a.m. U.K. - Retail Sales m/m
USD/CAD
Tuesday, May 19
- 10:00 a.m. - Fed Chair Powell Testimony
Wednesday, May 20
- 2:00 p.m. U.S. - FOMC Meeting Minutes
Thursday, May 21
- 9:45 a.m. U.S. - Flash Manufacturing PMI
- 2:30 p.m. U.S. - Fed Chair Powell Speech
AUD/USD
Monday, May 18
- 9:30 p.m. Australia - Monetary Policy Meeting Minutes
Tuesday, May 19
- 10:00 a.m. - Fed Chair Powell Testimony
Wednesday, May 20
- 10:30 p.m. Australia - RBA Governor Lowe Speech
Traders’ Perspective
Gold, Silver, and Mining Stocks
Monday, May 18
- 9:30 p.m. Australia - Monetary Policy Meeting Minutes
- 10:00 a.m. U.S. - NAHB Housing Market Index
- All Day, Canada – Bank Holiday
Tuesday, May 19
- 8:30 a.m. U.S. - Housing Starts, Building Permits
- 10:00 a.m. - Fed Chair Powell Testimony, FOMC Member Kashkari Speech
- 9:30 p.m. China - PBoC Loan Prime Rate
- All Day, Eurozone - ECOFIN Meetings
Wednesday, May 20
- 2:00 p.m. U.S. - FOMC Meeting Minutes
- 10:30 p.m. Australia - RBA Governor Lowe Speech
Thursday, May 21
- 8:30 a.m. U.S. - Philly Fed Manufacturing Index, Unemployment Claims
- 8:30 a.m. Canada - ADP Non-Farm Employment Change, NHPI m/m
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - CB Leading Index m/m, Existing Home Sales, FOMC Member Williams Speech
- 1:00 p.m. U.S. - FOMC Member Clarida Speech
- 2:30 p.m. U.S. - Fed Chair Powell Speech
Crude Oil
Monday, May 18
- 10:00 a.m. U.S. - NAHB Housing Market Index
- 9:30 p.m. Australia - Monetary Policy Meeting Minutes
- All Day, Canada – Bank Holiday
Tuesday, May 19
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment, ZEW Economic Sentiment
- 8:30 a.m. U.S. - Housing Starts, Building Permits
- 9:00 a.m. China - CB Leading Index m/m
- 10:00 a.m. - Fed Chair Powell Testimony, FOMC Member Kashkari Speech
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
- 9:30 p.m. China - PBoC Loan Prime Rate
- All Day, Eurozone - ECOFIN Meetings
Wednesday, May 20
- 8:30 a.m. Canada - CPI m/m, Common CPI y/y, Core CPI m/m, Median CPI y/y, Trimmed CPI y/y, Wholesale Sales m/m
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - FOMC Meeting Minutes
- 2:00 p.m. Canada - Governor Council Member Lane Speech
- 7:00 p.m. Australia - Flash Manufacturing PMI, Flash Services PMI
- 10:30 p.m. Australia - RBA Governor Lowe Speech
Thursday, May 21
- 8:30 a.m. Canada - ADP Non-Farm Employment Change, NHPI m/m
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - CB Leading Index m/m, Existing Home Sales, FOMC Member Williams Speech
- 10:30 a.m. U.S. - Natural Gas Storage
- 1:00 p.m. U.S. - FOMC Member Clarida Speech
- 2:30 p.m. U.S. - Fed Chair Powell Speech
Friday, May 22
- 8:30 a.m. Canada - Retail Sales m/m, Core Retail Sales m/m
Stock Markets
Monday, May 18
- 10:00 a.m. U.S. - NAHB Housing Market Index
Tuesday, May 19
- 8:30 a.m. U.S. - Housing Starts, Building Permits
- 9:00 a.m. China - CB Leading Index m/m
- 10:00 a.m. - Fed Chair Powell Testimony, FOMC Member Kashkari Speech
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
- 9:30 p.m. China - PBoC Loan Prime Rate
- All Day, Eurozone - ECOFIN Meetings
Wednesday, May 20
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - FOMC Meeting Minutes
Thursday, May 21
- 8:30 a.m. U.S. - Philly Fed Manufacturing Index, Unemployment Claims
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - CB Leading Index m/m, Existing Home Sales, FOMC Member Williams Speech
- 1:00 p.m. U.S. - FOMC Member Clarida Speech
- 2:30 p.m. U.S. - Fed Chair Powell Speech
Friday, May 22
- 3:15 a.m. Eurozone - French Flash Services PMI, French Flash Manufacturing PMI
- 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
- 7:30 a.m. Eurozone - ECB Monetary Policy Meeting Accounts
EUR/USD
Monday, May 18
- 6:00 a.m. Eurozone - German Buba Monthly Report
- 10:00 a.m. U.S. - NAHB Housing Market Index
Tuesday, May 19
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment, ZEW Economic Sentiment
- 10:00 a.m. - Fed Chair Powell Testimony, FOMC Member Kashkari Speech
- All Day, Eurozone - ECOFIN Meetings
Wednesday, May 20
- 4:00 a.m. Eurozone - Current Account
- 5:00 a.m. Eurozone - Final CPI y/y, Final Core CPI y/y
- 5:40 a.m. Eurozone - German 10-y Bond Auction
- 10:00 a.m. Eurozone - Consumer Confidence
- 2:00 p.m. U.S. - FOMC Meeting Minutes
Thursday, May 21
- 8:30 a.m. U.S. - Philly Fed Manufacturing Index, Unemployment Claims
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - CB Leading Index m/m, Existing Home Sales, FOMC Member Williams Speech
- 1:00 p.m. U.S. - FOMC Member Clarida Speech
- 2:30 p.m. U.S. - Fed Chair Powell Speech
- All Day, Eurozone - German Bank Holiday, French Bank Holiday
Friday, May 22
- 3:15 a.m. Eurozone - French Flash Services PMI, French Flash Manufacturing PMI
- 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
- 4:00 a.m. Eurozone - Flash Manufacturing PMI, Flash Services PMI
- 7:30 a.m. Eurozone - ECB Monetary Policy Meeting Accounts
USD/JPY
Monday, May 18
- 12:30 a.m. Japan - Tertiary Industry Activity m/m
- 10:00 a.m. U.S. - NAHB Housing Market Index
Tuesday, May 19
- 12:30 Japan - Revised Industrial Production m/m
- 8:30 a.m. U.S. - Housing Starts, Building Permits
- 10:00 a.m. - Fed Chair Powell Testimony, FOMC Member Kashkari Speech
- 7:50 p.m. Japan - Core Machinery Orders m/m
- 9:30 p.m. China - PBoC Loan Prime Rate
Wednesday, May 20
- 2:00 p.m. U.S. - FOMC Meeting Minutes
- 7:50 p.m. Japan - Trade Balance
- 8:30 p.m. Japan - Flash Manufacturing PMI
- 10:30 p.m. Australia - RBA Governor Lowe Speech
Thursday, May 21
- 8:30 a.m. U.S. - Philly Fed Manufacturing Index, Unemployment Claims
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - CB Leading Index m/m, Existing Home Sales, FOMC Member Williams Speech
- 1:00 p.m. U.S. - FOMC Member Clarida Speech
- 2:30 p.m. U.S. - Fed Chair Powell Speech
- 7:30 p.m. Japan - National Core CPI y/y
GBP/USD
Monday, May 18
- 9:30 a.m. U.K. - CB Leading Index m/m
- 11:00 a.m. U.K. - MPC Member Tenreyro Speech
Tuesday, May 19
- 2:00 a.m. U.K. - Claimant Count Change, Average Earnings Index 3m/y, Unemployment Rate
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment, ZEW Economic Sentiment
- 8:30 a.m. U.S. - Housing Starts, Building Permits
- 10:00 a.m. - Fed Chair Powell Testimony, FOMC Member Kashkari Speech
Wednesday, May 20
- 2:00 a.m. U.K. - CPI y/y, Core CPI y/y, PPI Input m/m, PPI Output m/m, RPI y/y
- 4:30 a.m. U.K. - HPI y/y
- 9:30 a.m. U.K. - BOE Governor Bailey Speech
- 2:00 p.m. U.S. - FOMC Meeting Minutes
Thursday, May 21
- 4:30 a.m. U.K. - Flash Services PMI, Flash Manufacturing PMI
- 6:00 a.m. U.K. - CBI Industrial Order Expectations
- 8:30 a.m. U.S. - Philly Fed Manufacturing Index, Unemployment Claims
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - CB Leading Index m/m, Existing Home Sales, FOMC Member Williams Speech
- 1:00 p.m. U.S. - FOMC Member Clarida Speech
- 2:30 p.m. U.S. - Fed Chair Powell Speech
- All Day, Eurozone - German Bank Holiday, French Bank Holiday
Friday, May 22
- 2:00 a.m. U.K. - Retail Sales m/m, Public Sector Net Borrowing
- 3:15 a.m. Eurozone - French Flash Services PMI, French Flash Manufacturing PMI
- 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
USD/CAD
Monday, May 18
- 10:00 a.m. U.S. - NAHB Housing Market Index
- All Day, Canada – Bank Holiday
Tuesday, May 19
- 8:30 a.m. U.S. - Housing Starts, Building Permits
- 9:00 a.m. China - CB Leading Index m/m
- 10:00 a.m. - Fed Chair Powell Testimony, FOMC Member Kashkari Speech
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
- 9:30 p.m. China - PBoC Loan Prime Rate
Wednesday, May 20
- 8:30 a.m. Canada - CPI m/m, Common CPI y/y, Core CPI m/m, Median CPI y/y, Trimmed CPI y/y, Wholesale Sales m/m
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - FOMC Meeting Minutes
- 2:00 p.m. Canada - Governor Council Member Lane Speech
Thursday, May 21
- 8:30 a.m. U.S. - Philly Fed Manufacturing Index, Unemployment Claims
- 8:30 a.m. Canada - ADP Non-Farm Employment Change, NHPI m/m
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - CB Leading Index m/m, Existing Home Sales, FOMC Member Williams Speech
- 1:00 p.m. U.S. - FOMC Member Clarida Speech
- 2:30 p.m. U.S. - Fed Chair Powell Speech
Friday, May 22
- 8:30 a.m. Canada - Retail Sales m/m, Core Retail Sales m/m
AUD/USD
Monday, May 18
- 9:30 p.m. Australia - Monetary Policy Meeting Minutes
Tuesday, May 19
- 8:30 a.m. U.S. - Housing Starts, Building Permits
- 9:00 a.m. China - CB Leading Index m/m
- 10:00 a.m. - Fed Chair Powell Testimony, FOMC Member Kashkari Speech
- 10:30 a.m. Australia - CB Leading Index m/m
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
- 8:30 p.m. Australia - MI Leading Index m/m
- 9:30 p.m. China - PBoC Loan Prime Rate
Wednesday, May 20
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - FOMC Meeting Minutes
- 7:00 p.m. Australia - Flash Manufacturing PMI, Flash Services PMI
- 10:30 p.m. Australia - RBA Governor Lowe Speech
Thursday, May 21
- 8:30 a.m. U.S. - Philly Fed Manufacturing Index, Unemployment Claims
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - CB Leading Index m/m, Existing Home Sales, FOMC Member Williams Speech
- 1:00 p.m. U.S. - FOMC Member Clarida Speech
- 2:30 p.m. U.S. - Fed Chair Powell Speech
Summing up, the financial markets will likely continue to react to news about globally spreading coronavirus in the near future. However, if you’re an investor and not a trader, you should pay extra attention to
Tuesday’s Fed Chair Powell Testimony. In addition, there will be Central Bank Governors’ speeches from Australia and the U.K this week.
Today’s Market News Report is the last in its current form. We are going to include the economic news report within our
free Daily Gold News article.
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Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care
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Disclaimer
All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits' associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.