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23 May 2021
3 min read

Economic Calendar Updates – 23/05

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

  • Traders and investors are set for a relatively lightweight events calendar in the upcoming week
  • US GDP report scheduled for Friday, preliminary data already showed 6.4% growth for Q1

The week starting Monday, May 24, is arguably one of the least busy weeks recently for the financial markets in terms of scheduled economic events. On Monday, the markets in the US will be operating under normal trading hours, while Germany, Switzerland, Austria, Norway, and Hungary will take a break to observe Whit Monday or Pentecost Monday. The Canadian market is also closed on Monday, in observation of Victoria Day.

Tuesday’s trading will take place under regular hours across international markets. Germany kicks off the scheduled economic updates with its GDP report for the first quarter on a quarterly basis. The GDP data is scheduled for 02:00 am EST. At 04:00 am EST, Germany will release its Ifo Business Climate Index results for May.

Economic Insights Expected from New Zealand

The US arrives with its CB consumer confidence figures for May at 10:00 am EST. At the same time, US new home sales data for April will be released. Later, at 10:00 pm EST, the Reserve Bank of New Zealand (RBNZ) will introduce its interest rate decision, immediately followed by a rate statement. An hour later, at 11:00 pm EST, the Governor of the RBNZ, Adrian Orr, will hold a press conference in which he will share insight on the economic outlook and the pace of recovery.

Wednesday is light on events so traders and investors will shift their focus on Thursday’s US core durable goods orders for April, scheduled to arrive at 08:30 am EST. At the same time, the US will release its GDP figure for the first quarter, on a quarterly basis. The US government already released the preliminary GDP report for the first trimester of the year, which arrived at 6.4%, beating estimates of 6.1%.

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