TC Economic Insight - The Week Ahead (May 20 - 24)


Kim Ming Lam


May 17, 2024



Min Read

TC Economic Insight - The Week Ahead (May 20 - 24)

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

We are looking into the trading week of May 20 - 24:

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:

In late-April and early-May, Japanese authorities were suspected to have intervened in the forex market to buy up the yen after USD/JPY struck the level of 160, a 34-year high. 

Later, U.S. inflation data came in milder than expected, boosting hopes for the Federal Reserve cutting interest rates, and pushing major U.S. stock indexes to record closing levels.  

If Japan’s inflation cools faster than in the U.S., the USD/JPY should have pressure to surpass 160 once again.

Japan’s monthly inflation report will be released on Friday (May 24). According to Trading Central's "Economic Insight", the Core Inflation Rate should be easing further to 2.4% on year in April. 

In the past 12 Japan Inflation Reports, USD/JPY fell in 67% of times (8 out of 12 events) within one hour from the report’s release, marking a trading range of 19.52 pips on average.

Key Economic Data Forecasts:

Monday (May 20)

DE Producer Prices (APR) -3.1% YoY

Tuesday (May 21)

AU Westpac Consumer Confidence (MAY) +0.9% MoM

AU Central Bank to release latest monetary-policy meeting minutes

CA Inflation Rate (APR) may ease to 2.8% YoY 

Wednesday (May 22)

JP Machinery Orders (MAR) -3.2% MoM

JP Trade Surplus (APR) may fall to 250 billion yen

NZ Central Bank expected to keep key rate unchanged at 5.50%

GB Inflation Rate (APR) may slow to 2.7% YoY 

US Existing Home Sales (APR) +0.5% MoM 

US Federal Reserve to release latest monetary-policy meeting minutes

Thursday (May 23)

NZ Retail Sales (Q1) +1.5% YoY

DE HCOB Manufacturing PMI Flash (MAY) to rise to 44

US Initial Jobless Claims expected to rise to 225,000

US New Home Sales (APR) -1.4% MoM

Friday (May 24)

JP Inflation Rate (APR) to slow to 2.5% YoY

JP Core Inflation Rate (APR) to slow to 2.4% YoY

GB Retail Sales (APR) +0.3% MoM 

US Durable Goods Orders (APR) +0.3% MoM

CA Retail Sales (MAR) +0.0% 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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