Today is a relatively light day in terms of macroeconomic publications. There are no events scheduled on the calendar that could have a more significant impact on global markets. However, this is just the start of a very important week.
The only noteworthy events today will be speeches by FOMC representatives. Speeches by Mester and Jefferson have been scheduled at 14:00 PM BST.
However, in the following days of this week, investors will learn about inflation reports from the US - CPI and PPI, among others. For PPI, expectations point to slightly higher readings compared to last month. However, for CPI, the data is expected to show lower readings on a year-on-year basis. The next events worth watching will be the release of the US retail sales report and a speech by Fed chairman Jerome Powell on Tuesday.
Detailed calendar of the day:
13 May: Monday
- All day - Eurozone, Eurogroup meeting
- 08:00 AM BST - Czech Republic, CPI inflation for April
- 13:00 PM BST - Romania, NBR interest rate decision
14 May: Tuesday
- All day - Eurozone, ECOFIN meeting
- 07:00 AM BST - Germany, CPI inflation for April
- 07:00 AM BST - UK, labour market data for March
- 07:00 AM BST - Spain, CPI inflation for April
- 10:00 AM BST - Germany, ZEW index for May
- 13:30 PM BST - USA, PPI inflation for April
- 15:00 PM BST - USA, Fed's Powell speech
- 21:40 PM BST - USA, change in crude oil inventories according to API
15 May: Wednesday
- 07:00 AM BST - Sweden, CPI inflation for April
- 07:45 AM BST - France, CPI inflation for April
- 09:00 AM BST - Poland, GDP report for Q1 and CPI inflation for April
- 10:00 AM BST - Eurozone, GDP report for Q1
- 13:30 PM BST - USA, CPI report for April
- 13:30 PM BST - USA, retail sales report for April
- 15:30 PM BST - USA, DOE oil inventory change report
16 May: Thursday
- 12:50 AM BST - Japan, GDP report for Q1
- 02:30 AM BST - Australia, labour market data for April
- 13:00 PM BST - Poland, core inflation for April
- 13:30 PM BST - USA, housing starts for April
- 13:30 PM BST - USA, unemployment claims
- 15:30 PM BST - USA, gas inventories data
17 May: Friday
- 03:30 AM BST - China, retail sales and manufacturing data for April
- 10:00 AM BST - Eurozone, HICP inflation for April
- 15:00 PM BST - USA, CB index for April
