Economic calendar | May 23 – 27

Monday, May 23 

The beginning of the week is again accompanied by an absolutely empty macroeconomic calendar, so the market will remain almost stationary. So investors will have the opportunity to prepare for the data that will be published throughout the week.

Tuesday, May 24

Tuesday will begin with the publication of data on retail sales in New Zealand, the growth rate of which should slow down from 4.4% to 2.0%. And this will put some pressure on the New Zealand dollar. 

Then the rest of the market will also revive – on this day preliminary data on business activity indices in different countries will be published. Australia and Japan will be the first to present their statistics – in these countries absolutely all indices should decline, which will put pressure on the Australian dollar and the yen. 

Then it will be the turn of the single European currency and the pound sterling – these currencies should also decline due to the fall of all business activity indices in the eurozone and the UK without exception. 

However, after the opening of the American trading session, all these currencies will be able to win back their fall, since the American dollar will already decline. And all for the same reason – a decline in business activity indices is also predicted in the United States.

Wednesday, May 25

The only thing that may attract attention on Wednesday is a meeting of the board of the Reserve Bank of New Zealand, during which the refinancing rate may be increased from 1.5% to 2.0%. This decision will instantly lead to an increase in the New Zealand dollar, which may eventually significantly strengthen its position.

Towards the end of the trading day, it is worth paying attention to orders for durable goods in the United States, which should increase by 0.4%. However, these changes are not so significant, so you should not expect an impressive growth of the US dollar.

Thursday, May 26

The economic calendar before the opening of the American trading session is completely empty, so the market is likely to just stand still. After that, data on retail sales in Canada will be published, the growth rate of which should slow down from 7.4% to 5.1% – and this will lead to a weakening of the Canadian dollar. 

But the data on applications for unemployment benefits in the United States will have almost no effect on the mood of market participants. The fact is that the increase in the number of initial applications by 3 thousand will be fully offset by a decrease of 7 thousand in the number of repeated applications.

Friday, May 27

The end of the week, as well as Monday, will be an extremely calm day due to a completely empty macroeconomic calendar.