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US ISM Manufacturing PMI (April) (May 2nd at 15:00 GMT+1)
March's PMI printed at 57.1. The consensus forecast for April is 56.8.
Possible influence: Volatile US Dollar, Gold and US Stocks
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Reserve Bank of Australia (May 3rd at 05:30 GMT+1)
The Reserve Bank of Australia will meet to decide about interest rates. The rate is currently 0.10%. It was last changed at their November 2020 meeting when it was lowered 15 basis points.
Possible Influence: Volatile AUD
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US Federal Reserve Meeting and Press Conference(May 4th at 19:00 GMT+1 and 19:30 GMT+1)
The U.S. Central Bank’s 2-day meeting concludes on May 4th. They will announce their latest interest rate decision and hold a press conference after to discuss their outlook moving forward as well as their plans for adjustments to their balance sheet. The current rate is 0.50%. They raised it 25 basis points at their last meeting on March 16th.
Possible influence: Volatile US Dollar, Gold and US Stocks
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Bank of England Meeting (May 5th)
The Monetary Policy Committee of the Bank of England will meet to decide on interest rates. The current rate is 0.75%. It was raised 25 basis points at their last meeting on March 17th.
Possible Influence: Volatile British Pound and European stocks
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OPEC+ Meeting (May 5th)
OPEC+ is scheduled to hold their next meeting on May 5th. OPEC+ is made up of the original OPEC cartel plus Russia. The group is expected to increase oil production by 400,000 barrels per day per month, according to their long-term schedule.
Possible influence: Volatile Oil and Energy
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U.S. Unemployment Rate and Non-Farm Payrolls (NFP) (April) (May 6th at 13:30 GMT+1)
The Unemployment rate for March was 3.6%. It is expected to remain 3.6% for April. Non-Farm Payrolls are expected to fall to 415,000 for April, lower than March’s figure of 431,000.
Possible Influence: Volatile US Dollar, Gold and US Stocks
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Inflation data in US (April) (May 11th at 13:30 GMT+1)
Core CPI (excluding food and energy) was 6.5%, Year-over-Year in March. April’s Core CPI is expected to rise to 6.6%, Year-over-Year. Top-line CPI for March came in at 1.2%, Month-over-Month. The forecast for Top-line CPI for April is 1.2%, Month-over-Month.
Possible Influence: Volatile US Dollar, Gold and US Stocks
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Retail Sales in US (April) (May 17th at 13:30 GMT+1)
Retail Sales rose 0.7%, Month-over-Month, in March. Retail Sales for April are forecast to rise 0.1%, Month-over-Month.
Possible Influence: Volatile US Dollar, Gold and US Stocks
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Earnings (May)
1st Quarter earnings season continues in May. Companies posting their financial results in May include Pfizer, Virgin Galactic, Cronos Group, Alibaba, Moderna, Disney, Plug Power, Baidu, Nvidia, Applied Materials, Weibo, Walmart, Home Depot.
Possible Influence: Volatile US Stocks and Indices
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Ongoing Tension between the United States, Russia, Europe, and Ukraine (May)
The War in Ukraine will continue to drag on in May and probably longer. U.S. president Biden just asked the U.S. Congress for an additional $33 billion in aid to Ukraine to help them until September, including $20 billion for military support. Fighting remains heavy in the East of Ukraine. Russia would like to create a “Land bridge” to Crimea. Ukraine has insisted that they will not give up any territory. Peace talks remain at an impasse, according to both sides. The West continues to increase its sanctions against Russia and its many of its wealthiest citizens. Russia is demanding payment for its Natural Gas in Rubles, and may soon demand the same for Russian Oil. Germany has now withdrawn its opposition to a ban on Russian Oil and the EU may now consider such an embargo.
Possible Influence: Volatile US Dollar, Natural Gas, Volatile Russian Ruble, Gold, Oil, Palladium, and US Stocks