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16 May 2021
3 min read

Economic Calendar Updates – 16/05

Economic Calendar Updates

*OspreyFX would like to state that traders should research extensively before following any information given hereby. Any assumptions made in this article are provided solely for entertainment purposes and not for traders to guide or alter their positions. Please read our Terms & Conditions and Risk Disclosure for more information.

Key Takeaways

  • Inflation data from the UK, Europe, and Canada to be examined by traders and investors
  • FOMC minutes from the committee’s last meeting will update Fed’s economic outlook

The week starting Monday, May 17, is bringing crucial data to either assuage or aggravate investors’ fears over high inflation and the lofty valuations of the US stock market. Significant economic updates and inflation data will be coming up from over the globe as investors anticipate learning how the global economy is performing for April.

Kicking off the week, Japan will be releasing its GDP data report for the first quarter on a quarterly basis. The announcement is due at 7:50 pm EST on Monday. Later, at 9:30 pm EST, Australia’s central bank will update its outlook on the economy. The Reserve Bank of Australia is expected to provide insight into the economic conditions and announce whether it will make any changes in its approach to the economy.

Closing the Week With Key Data

Skipping Tuesday for the lack of any major scheduled economic updates, and moving to Wednesday where the UK kickstarts the news cycle by delivering its CPI data for April on an annual basis. The report is set for 02:00 am EST. The European CPI data follows at 05:00 am EST. Both readings will show whether inflation has picked up for April and to what extent. Canada delivers its CPI report at 08:30 am EST, also for April.

At 02:00 pm EST, the Federal Open Market Committee will publish its meeting minutes on the state of the US economy. The minutes will be closely monitored by investors for they are expected to reveal the committee’s outlook for the economy and how the Federal Reserve sees inflation growth. At 09:30 pm EST, Australia will publish the employment change report for April.

Thursday is also lightweight, similar to Tuesday. Moving to Friday, the UK releases its retail sales report for April at 02:00 am EST. Later, at 03:30 am EST, Germany will publish its manufacturing PMI report. At 08:30 am EST, Canada delivers core retail sales data for March.

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