TC Economic Insight - The Week Ahead (May 13 - May 17)


Kim Ming Lam


May 11, 2024



Min Read

TC Economic Insight - The Week Ahead (May 13 - May 17)

Using Trading Central's "Economic Insight" investors can check out up-coming major economic data.

We are looking into the trading week of May 13 - 17:

We can select economic data of "High", "Medium" or "Low" importance, or any combination of such filters:

We can select which economies to focus on:

As expected, the U.S. Federal Reserve maintained its key interest rate unchanged at 5.25%-5.50%.

However, Fed Chairman Jerome Powell gave less-hawkish-than-expected comments, as he pointed out clearly that the central bank is not likely to hike rates in its next move.

And then the U.S. official jobs report showed a lower-than-expected increase in non-farm payrolls (+175,000 in April) with the jobless rate rising to 3.9%, raising expectations for interest-rate cuts.

As a result, market sentiment got a boost, driving the Dow Jones Industrial Average to post an eight-session winning streak.

The next market-moving economic event should be the U.S. reporting inflation data on Wednesday (May 15). According to Trading Central's "Economic Insight", U.S. inflation should be remaining stable at 3.5% on year in April. 

In the past 12 U.S. Inflation Reports, EUR/USD fell in 58% of times (7 out of 12 events) within one hour from the report’s release, marking a trading range of 59.70 pips on average.

Key Economic Data Forecasts:

Monday (May 13)

AU NAB Business Confidence (APR) to climb to 2

CA Building Permits (MAR) -4.5% MoM

Tuesday (May 14)

JP Producer Price Index (APR) +0.7% YoY

GB Unemployment Rate (MAR) to stay at 4.2%

DE ZEW Economic Sentiment Index (MAY) to rise to 45

US Producer Price Index (APR) +2.2% YoY

US Fed Chair Powell Speech

Wednesday (May 15)

HK Market Closed for Buddha's Birthday

EA Industrial Production (MAR) -0.2% MoM 

US Inflation Rate (APR) to stay at 3.5% YoY

US Core Inflation Rate (APR) to dip to 3.7% YoY

US Retail Sales (APR) +0.3% MoM

US NY Empire State Manufacturing Index (MAY) to improve to -8

Thursday (May 16)

JP GDP Annualized (Q1) +1.3%

AU Employment Change (APR) +25,000

AU Unemployment Rate (APR) to climb to 3.9%

US Initial Jobless Claims expected to drop to 225,000

US Philadelphia Fed Manufacturing Index (MAY) may fall to 4

US Housing Starts (APR) +3.8% MoM 

US Building Permits (APR) -0.2% MoM 

US Industrial Production (APR) +0.2% MoM 

Friday (May 17)

CN Industrial Production (APR) +4.8% YoY

CN Retail Sales (APR) +3.2% YoY

FR Unemployment Rate (Q1) to tick down to 7.4%

US Conference Board Leading Index (APR) -0.2% MoM

Happy Trading!

Source: Trading Central Economic Insight

Kim Ming Lam

Head of APAC Research
Ming graduated from Hong Kong University with a Bachelor's degree in mechanical engineering. He has been working in the financial services sector for over 10 years. He is currently tasked with providing clients with technical analysis views on forex and Asian stock indexes.
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