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The week ahead 06.05.2019

05/05/2019

Monday gets off to an early start with PMI data from China at 01:45 GMT with Eurozone PMI and Retail Sales following at 08:00 & 09:00 respectively. Another early start on Tuesday with Australian Retail Sales at 01:30 and the RBA Interest Rate Decision at 04:30, where the possibility that interest rates might actually change has been elevated by the weaker Q1 CPI data. German Factory Orders are scheduled for 06:00 and although usually not considered significant, a poor number here will reinforce fears of a European recession. Another early start on Wednesday at 02:00 with the RBNZ interest rate decision where a 25 basis point cut now seems likely. At the same time China will post its Trade Balance figures which should see a slowdown as in previous months. China is also the main focus on Thursday with both CPI and PPI data out at 01:30. Finally, we round off the week on Friday with the UK GDP figure at 09:30 (expected at 1.8% YoY). US CPI data is slated for 12:30 with Canadian employment data rounding off the diary at the same time.

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