Financial Market Preview for May 9-13

The recent NFP report didn’t present, yet again, a clear picture as to where the U.S. labor market is heading: Wages went up but job growth didn’t meet market estimates. This week, the JOLTS report will provide another look at the state of the labor market. Other reports to consider include: U.S. retail sales, Germany’s factory orders, China’s CPI, U.S. PPI, Germany’s GDP for Q1, BOE rate decision, Japan’s current account, GB’s manufacturing production, and U.S. consumer sentiment. So here is the breakdown of the economic calendar for the week of May 9th to 13th:  

(All times GMT):

Monday, May 9th

08:00 – German Factory Orders: In the past report, factory orders decreased by 1.2% in March; the market estimates that this time factory orders rose by 0.57% in April;

Tuesday, May 10th

02:30 – China’s CPI: According to the recent report, the CPI remained at an annual rate of 2.3%; the market estimates the annual rate will maintain its rate of 2.3%;

15:00 – U.S. JOLTS Job Openings: The Bureau of Labor Statistics will release its monthly report on the U.S number of job openings for March, excluding the farming industry; in the past update for February, the number of jobs opening declined again to 5.45 million; in the upcoming report, the number is expected to reach 5.55 million;

Wednesday, May 11th

09:30 – Great Britain Manufacturing Production: This report will present the annual rate of GB’s manufacturing production for March; in the recent report regarding February 2016 the index declined by 1.1%; this time, the estimates are for a gain of 0.4%;

23:50 – Japan’s Current Account: This report will show the shifts in the difference between imported and exported goods, services, and income flows. In the last update, the surplus in the current account expanded to 1.73 trillion yen and is expected to rise again to 1.9 trillion yen in the next report;

15:30 – U.S Crude Oil Stockpiles Weekly update: The EIA (Energy Information Administration) will release its weekly report on the U.S oil and petroleum stockpiles for the week ending on May 6th;

Thursday, May 12th

13:00 –BOE Inflation Report: Bank of England will publish its quarterly report that includes the bank’s inflation outlook for 2016 and 2017;

13:00 – BOE Rate Decision & Asset Purchase Plan: Bank of England isn’t expected to raise rates in the upcoming policy meeting;

13:30 – U.S. Jobless Claims Weekly Report:  This weekly report will refer to the changes in the initial jobless claims for the week ending on May 6th; in the last report, jobless claims increased to 274K and is expected to slightly rise this week – the outlook is for 277K;

15:30 – EIA U.S. Natural Gas Storage: The EIA weekly report of the U.S. natural gas market will refer to the latest changes in natural gas production, storage, consumption and rates as of May 6th;

Friday, May 13th

10:00 –Germany’s Q1 GDP 2016: In the fourth quarter, Germany’s economy grew by 0.3% – as expected. The current expectations are for a growth rate of 0.6% in Q1 2016;

13:30 – U.S. Retail Sales Report: This monthly report refer to April; in the last March update, retail sales declined by 0.3% (month-over-month); core retail edge up by 0.2%; currently, the market expects core sales to rise by 0.6% and retail sales to drop again by 0.3%;

13:30 – U.S. Producer Price Index: This report presents the inflation rate from the producers’ side; it will refer to April 2016. In the previous month’s report regarding March, this index for finished goods inched down by 0.1%, m-o-m; the core PPI also slid by the same rate; this will serve as a preview for the CPI report that will be released the following week;

14:55 – UoM Consumer Sentiment (preliminary): University of Michigan will release its preliminary consumer sentiment monthly report; this survey could offer information vis-à-vis the recent developments in U.S consumers’ sentiment; According to the latest report, the sentiment index declined to 89.7; for the next report, the index is expected to slightly rise to 89.9;

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