What’s coming up in the markets next week?

Chris Lee

Traders in the foreign exchange markets are largely occupied by the coronavirus pandemic at the moment.

The economic calendar is still functioning, and many economic data releases and speeches are still going ahead.

Here’s what to look out for next week.

On Monday, there will be a number of public holidays in major economies.

In the UK, for example, the Spring Bank Holiday could cause a slowdown in sterling trading.

In the US, Memorial Day could have a similar effect on the greenback.

Other economies, however, will be open for business as usual.

In Germany, there will be a gross domestic product release at 6am GMT, covering Q1 2020.

This is expected to show no year-on-year change from its previous position of -2.3%.

Later in the day, there will be a speech from Stephen S. Poloz, who serves as the Governor of the Bank of Canada.

This is scheduled to take place at 5.30pm GMT.

Looking ahead to Tuesday of next week, there will be a preliminary core personal consumption expenditures release from the US at 12.30pm GMT.

This will cover Q2 2020.

There will also be a new homes sale release from the US that day, covering April.

This is scheduled to come out at 2pm GMT.

It is expected that this will show a month-on-month change from 627,000 to 500,000.

There will also be a consumer confidence release from the US in the same time slot.

On Wednesday, meanwhile, euro traders will no doubt be occupied by the release of a Financial Stability Review.

This review, which comes twice a year, will be published at 8am by the European Central Bank.

At the same time, a survey on expectations and business conditions covering May will be released in Switzerland by the Centre for European Economic Research.

Later in the day at 2pm GMT, there will be a manufacturing index release from the Federal Reserve Bank of Richmond in the US.

This will cover the month of May.

On Thursday, meanwhile, there will be a preliminary harmonised index of consumer prices release for the month of May out of Germany.

This is expected to be released at 12pm GMT.

Year on year, it was last recorded at 0.8%.

A series of releases are expected from the US at 12.30pm GMT.

Annualised preliminary gross domestic product data will be out, covering Q1 2020.

It is expected to show no change from its previous position of -4.8%.

Pending home sales data for the month of April is also expected at 2pm GMT.

At 3pm GMT, the Federal Reserve Bank of Kansas City will issue its quarterly Survey of Manufacturers, covering the month of May.

The day will be rounded off by a preliminary industrial production figure from Japan.

This figure is expected to come out at 11.50pm GMT, and will cover April.

Year on year, it was last recorded at -5.2%.

Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you.

Chris Lee
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