On Thursday, US jobless claims and the Philly Fed Manufacturing Index will also need consideration. While the stats will influence market risk sentim
On Thursday, US jobless claims and the Philly Fed Manufacturing Index will also need consideration.
While the stats will influence market risk sentiment, Fed chatter will likely have more impact as central banks grapple with sticky inflation. FOMC members Kashkari (Mon), Bostic (Mon), Barkin (Mon), Williams (Tues/Fri), and Fed Chair Powell (Fri) are on the calendar to speak.
For the EUR:
It’s a busier week for the EUR.
In the first half of the week, German wholesale inflation (Mon), Eurozone industrial production (Mon), ZEW Economic Sentiment (Tues), and Eurozone GDP (Tues) will move the dial.
However, Eurozone inflation numbers (Wed) and the ECB Economic Bulletin (Thurs) will likely have more impact.
German Producer Price Index numbers wrap things up on Friday.
Other stats include Eurozone trade data (Tues) and finalized Italian inflation numbers (Tues), which should have a limited impact on the EUR.
With a busier economic calendar, investors should also consider ECB commentary. Executive Board members Andrea Enria (Mon), Luis de Guindos (Tues/Wed/Thurs), Anneli Tuominen (Tues), Frank Elderson (Wed), Fabio Panetta (Wed), Isabel Schnabel (Fri) and ECB President Christine Lagarde (Tues/Thurs/Fri) are on the calendar to speak.
For the Pound:
It is another significant week ahead for the Pound. Average earnings and unemployment figures will move the dial on Tuesday. While claimant counts will draw interest, wage growth will likely be the focal point.
While economic indicators are light, Bank of England commentary will need monitoring.
BoE Chief Economist Huw Pill kicks off the week, with BoE Governor Bailey (Wed) and MPC member Haskel (Fri) also on the calendar to deliver speeches. Huw Pill will also be speaking on Thursday.
For the Loonie:
It is a busy week ahead on the economic calendar for the Loonie.
Inflation figures for April will draw interest on Tuesday. As recessionary fear grows, a pickup in inflationary pressure will question the Bank of Canada’s near-term policy plans.
On Friday, retail sales figures will also move the dial.
Other stats include housing sector data, wholesale sales, and manufacturing sales, which should have a limited impact on the BoC and the Loonie.
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