The Week Ahead - Uncovering economic events taking place during May 1 - 5 for significant economies


Christophe Chevalier


April 28, 2023



Min Read

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

We are looking into the week of May 1 - 5:

First of all, we notice that markets in China, Hong Kong, Singapore, Europe and the U.K. will be closed on Monday (May 1) for the Labor Day holiday.

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

We are focusing on major economies worldwide, e.g. the U.S., China, Australia, the Eurozone: 

The market is focusing on the U.S. Federal Reserve’s interest-rate decision on Wednesday (May 3). 

According to Trading Central's "Economic Insight", the Fed will raise its key interest rate by 25 basis points to 5.25%, the highest level since 2007.

Trading Central'sEconomic Insight” also shows that, in the past 8 interest-rate decisions by the Federal Reserve, EUR/USD rose in 88% of times (7 out of 8 rate moves) within one hour from the report’s release, marking a trading range of 96.42 pips on average.

Other key economic data include:

Monday (May 1)

U.S. ISM Manufacturing PMI is expected to fall to 45.0 in April.

Canada’s S&P Global Manufacturing PMI may dip to 48.0 in April.

Tuesday (May 2)

Australia’s Central Bank is expected to raise its key interest rate by 25 basis points to 3.85%.

The Eurozone’s Inflation Rate is expected to slow to 6.6% on year in April.

Germany’s Retail Sales may decline 3.6% on month in March.

U.S. official Number of Job Openings may decline to 9.70 million in March.

U.S. Factory Orders are expected to drop 0.3% on month in March. 

Wednesday (May 3)

Australia's Retail Sales may grow 1.0% on month in March.

New Zealand's Jobless Rate is expected to be steady at 3.4% in the first quarter.

The Eurozone’s Jobless Rate should tick up to 6.8% in March.

U.S. Federal Reserve may hike its key interest rate by 25 basis points to 5.25%.

U.S. ADP Jobs Report is expected to show an addition of 120,000 private jobs in April.

U.S. ISM Services PMI may tick down to 50.6 in April.

Thursday (May 4)

China's Caixin Manufacturing PMI is expected to rise to 50.4 in April.

Australia's Trade Surplus may tick down to A$13.5 billion in March.

The Eurozone’s Producer Price Growth may are expected to rise 0.6% on month in March

The European Central Bank should raise its main interest rate by 25 bps to 3.75%

U.S. Trade Deficit may narrow to $63.1 billion in March.

U.S. Initial Jobless Claims will be reported.

Canada may record a Trade Deficit of C$240 million in March.

Canada’s Ivey PMI is expected to fall to 53.0 in April.

Friday (May 5) 

China's Caixin Services PMI is expected to climb to 58.0 in April.

The Eurozone’s Retail Sales may fall 2.1% on month in March.

U.S. Official Jobs Report is expected to show an addition of 190,000 non-farm payrolls in April.

U.S. Jobless Rate should be stable at 3.5% in April.

Canada’s Jobless Rate could rise to 5.2% in April.

Happy Trading!

Source: Trading Central Economic Insight

Christophe Chevalier

Technical Analyst
Christophe has an STA Level 1 & 2 from the Society of Technical (UK), an MS in Financial Trading ESLSCA France’s elite financial education university and an MBA from ISC Paris Business School. He joined TC in 2007, bringing over 11 years experience in financial markets.
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