Here’s a summary of last week’s market moving news and a look ahead to the data, events and earnings reports that are likely to move the markets in the week starting May 23.
Last week:
- The minutes from the latest Federal Open Markets Committee (FOMC) show there is a possibility that the Fed might go ahead and raise interest rates in June. However, the markets are not pricing that in. It also looks like emerging markets are better prepared for a Fed interest rate hike this time.
This week:
Monday, May 23
Europe:
- European Union foreign ministers meet in Brussels.
- Eurozone Markit flash composite PMI for May.
- Eurozone consumer confidence for May.
- Germany Markit flash composite PMI for May.
- France Markit flash composite PMI for May.
- Russia retail sales, real wages, unemployment for April.
- Ukraine industrial output for April.
US:
- Markit flash manufacturing PMI for May.
Rest of the world:
- Japan trade balance for April.
- African Development Bank annual meeting.
- OECD launches African Economy Outlook 2016.
Corporate events:
- Ryanair result.
- British parliament select committee BHS collapse evidence hearing.
Tuesday, May 24
Europe:
- Eurogroup meeting.
- Germany first-quarter GDP, final reading.
- Germany ZEW current situation index for May.
- UK public sector net borrowing for April.
- Sweden unemployment for April.
- Hungary interest rate decision.
- Turkey interest rate decision.
US:
- Manufacturing PMI for May.
- New home sales for April.
- Richmond manufacturing index for May.
Rest of the world:
- Japan manufacturing PMI for May.
- Brazil current account deficit for April.
Corporate events:
- Severn Trent, Vienna Insurance Group, Intuit, Autozone, Best Buy, Hewlett Packard Enterprise, earnings.
- Royal Dutch Shell annual shareholders meeting.
Wednesday, May 25
Europe:
- GfK German consumer climate for June.
- Germany business expectations for May.
- Germany Ifo business climate index for May.
- Italy industrial sales, new orders for April.
- Spain producer price inflation for April.
- Belgium business climate for May.
- ECOFIN meeting on tax avoidance.
US
- Weekly mortgage applications data from the Mortgage Bankers Association.
- Weekly crude inventories.
- Markit flash services PMI for May.
- Goods trade balance for April
Rest of the world:
- Canada interest rate decision.
Corporate events:
- Marks& Spencer, Babcock International, CA Immobilien, Shaftesbury, Costco Wholesale, Tiffany earnings.
- Dixons Carphone trading statement.
Thursday, May 26
Europe:
- Spain first-quarter GDP, second reading.
- Italy retail sales for March.
- Italy wage inflation for April.
- UK first-quarter GDP, second reading.
- UK DCLG house building statistics.
- British Bankers Associations high street banking statistics.
- Sweden consumer, manufacturing confidence for May.
- Hungary unemployment rate for April.
- Ukraine interest rate decision.
US:
- Weekly natural gas inventories.
- Weekly jobless claims.
- Core durable goods orders for April.
- Services PMI for May.
- Pending home sales for April.
- Kentucky Fed manufacturing index for May.
Rest of the world:
- Australia private new capital expenditure for the first quarter.
Corporate events:
- Daily Mail, Tate & Lyle, Uniqa, United Utilities earnings.
Friday, May 27
Europe
- France consumer confidence for May.
- France first-quarter GDP, final reading.
- Italy business confidence for May.
- Spain retail sales for April.
- Finland industrial, consumer confidence for May.
- Ireland retail sales for April.
- UK private housing rental prices, monthly statistics.
- Sweden household lending growth for April.
- Sweden retail sales for April.
- Poland central bank minutes of interest rate meeting.
US
- First-quarter GDP, second reading.
- Michigan consumer sentiment, inflation expectations for May.
Rest of the world:
- Japan national core CPI for April.
- Tokyo CPI for May.
Corporate events:
- Saint Gobain, Big Lots earnings.