market news report

paul-rejczak

Market News Report: May 11 - May 15, 2020

May 11, 2020, 9:22 AM Paul Rejczak

Last week's economic data releases have basically confirmed coronavirus damage to global economies. The U.S. Unemployment Rate hit almost 15%, as Friday's monthly jobs data release showed. But will we get a meaningful downward correction following over-month-long rally in stocks? This week the markets will await Wednesday's Fed Chair Powell speech.

The week behind

Last week's economic data have revealed further coronavirus impact on global economies. The U.S. monthly jobs data came out on Friday and the Unemployment Rate got close to 15% from the previous value of 4.4%! However, the recent economic data releases seem to be very much priced in by the markets. And Tuesday's ISM Non-Manufacturing PMI release has been better than expected.

The week ahead

What about the coming week? On Wednesday there will be a speech from the Fed Chair Jerome Powell. Friday's U.S. Retail Sales will likely be very closely watched by the markets. On Wednesday we will get some important economic data releases from the Eurozone and Australia. Let's take a look at key highlights:

  • Wednesday's Fed Chair Powell Speech will probably be the most important economic event of the coming week.
  • On Friday we will get the U.S. Retail Sales number for the previous month.
  • Friday's German GDP number release will be closely watched by the Euro currency traders.
  • The other important economic data releases this week include Wednesday's U.K.'s GDP number and Australia's Employment Change along with the Unemployment Rate
  • Oil traders will also await Tuesday's and Wednesday's inventories data release.

You will find this week's the key news releases below (EST time zone). For your convenience, we broken them down per market to which they are particularly important, so that you know what to pay extra attention to, if you have or plan to have positions in one of them. Moreover, we put the particularly important news in bold. This kind of news is what is more likely to trigger volatile movements. The news that are not in bold usually don't result in bigger intraday moves, so unless one is engaging in a particularly active form of day trading, it might be best to focus on the news that we put in bold. Of course, you are free to use the below indications as you see fit. As far as we are concerned, we are usually not engaging in any day trading during days with "bold" events on a given market. However, in case of more medium-term trades, we usually choose to be aware of the increased intraday volatility, but not change the currently opened position.

Our Market News Report consists of two different time-related perspectives. The investors' perspective is only suitable for the long-term investments. The single economic data releases rarely cause major outlook changes. Hence, we will only see a handful of bold markings every week. On the other hand, the traders' perspective is for traders and day-traders, because the assets' prices are likely to react on a single piece of economic data. So, there will be a lot more bold markings on potentially market-moving news every week.

Investors' Perspective

Gold, Silver, and Mining Stocks

Wednesday, May 13

  • 9:00 a.m. U.S. - Fed Chair Powell Speech

Friday, May 15

  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m

Crude Oil

Tuesday, May 12

  • 4:30 p.m. U.S. - API Weekly Crude Oil Stock

Wednesday, May 13

  • 9:00 a.m. U.S. - Fed Chair Powell Speech
  • 10:30 a.m. U.S. - Crude Oil Inventories

Friday, May 15

  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m

Stock Markets

Wednesday, May 13

  • 9:00 a.m. U.S. - Fed Chair Powell Speech

Friday, May 15

  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m

EUR/USD

Wednesday, May 13

  • 9:00 a.m. U.S. - Fed Chair Powell Speech

Friday, May 15

  • 2:00 a.m. Eurozone - German Preliminary GDP q/q
  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m

USD/JPY

Wednesday, May 13

  • 9:00 a.m. U.S. - Fed Chair Powell Speech

GBP/USD

Wednesday, May 13

  • 2:00 a.m. U.K. - Preliminary GDP q/q
  • 9:00 a.m. U.S. - Fed Chair Powell Speech

Thursday, May 14

  • 6:30 a.m. U.K. - BOE Governor Bailey Speech

USD/CAD

Wednesday, May 13

  • 9:00 a.m. U.S. - Fed Chair Powell Speech

Thursday, May 14

  • 10:30 a.m. Canada - BOC Governor Poloz Speech

Friday, May 15

  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m

AUD/USD

Wednesday, May 13

  • 9:00 a.m. U.S. - Fed Chair Powell Speech
  • 9:30 p.m. Australia - Employment Change, Unemployment Rate

Traders' Perspective

Gold, Silver, and Mining Stocks

Tuesday, May 12

  • 6:00 a.m. U.S. - NFIB Small Business Index
  • 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
  • 10:00 a.m. U.S. - FOMC Member Harker Speech, FOMC Member Quarles Speech
  • 1:01 p.m. U.S. - 10-y Bond Auction
  • 2:00 p.m. U.S. - Federal Budget Balance
  • 5:00 p.m. U.S. - FOMC Member Mester Speech

Wednesday, May 13

  • 8:30 a.m. U.S. - PPI m/m, Core PPI m/m
  • 9:00 a.m. U.S. - Fed Chair Powell Speech
  • 1:01 p.m. U.S. - 30-y Bond Auction
  • 9:30 p.m. Australia - Employment Change, Unemployment Rate

Thursday, May 14

  • 8:30 a.m. U.S. - Unemployment Claims, Import Prices m/m
  • 10:30 a.m. Canada - BOC Governor Poloz Speech
  • 11:00 a.m. U.S. - FOMC Member Kashkari Speech

Friday, May 15

  • 2:00 a.m. Eurozone - German Preliminary GDP q/q, German PPI m/m
  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m
  • 9:15 a.m. U.S. - Industrial Production m/m, Capacity Utilization Rate
  • 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Business Inventories m/m, JOLTS Job Openings, Preliminary UoM Inflation Expectations
  • 4:00 p.m. U.S. - TIC Long-Term Purchases

Crude Oil

Tuesday, May 12

  • 6:00 a.m. U.S. - NFIB Small Business Index
  • 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
  • 10:00 a.m. U.S. - FOMC Member Harker Speech, FOMC Member Quarles Speech
  • 1:01 p.m. U.S. - 10-y Bond Auction
  • 2:00 p.m. U.S. - Federal Budget Balance
  • 4:30 p.m. U.S. - API Weekly Crude Oil Stock
  • 5:00 p.m. U.S. - FOMC Member Mester Speech

Wednesday, May 13

  • 8:30 a.m. U.S. - PPI m/m, Core PPI m/m
  • 9:00 a.m. U.S. - Fed Chair Powell Speech
  • 10:30 a.m. U.S. - Crude Oil Inventories
  • 1:01 p.m. U.S. - 30-y Bond Auction
  • 9:30 p.m. Australia - Employment Change, Unemployment Rate

Thursday, May 14

  • 8:30 a.m. U.S. - Unemployment Claims, Import Prices m/m
  • 8:30 a.m. Canada - Manufacturing Sales m/m
  • 10:00 a.m. Canada - BOC Financial System Review
  • 10:30 a.m. U.S. - Natural Gas Storage
  • 10:30 a.m. Canada - BOC Governor Poloz Speech
  • 11:00 a.m. U.S. - FOMC Member Kashkari Speech
  • 10:00 p.m. China - Fixed Asset Investment ytd/y, Industrial Production y/y, Retail Sales y/y, Unemployment Rate

Friday, May 15

  • 2:00 a.m. Eurozone - German Preliminary GDP q/q, German PPI m/m
  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index
  • 9:15 a.m. U.S. - Industrial Production m/m, Capacity Utilization Rate
  • 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Business Inventories m/m, JOLTS Job Openings, Preliminary UoM Inflation Expectations
  • 4:00 p.m. U.S. - TIC Long-Term Purchases

Stock Markets

Tuesday, May 12

  • 6:00 a.m. U.S. - NFIB Small Business Index
  • 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
  • 10:00 a.m. U.S. - FOMC Member Harker Speech, FOMC Member Quarles Speech
  • 1:01 p.m. U.S. - 10-y Bond Auction
  • 2:00 p.m. U.S. - Federal Budget Balance
  • 4:30 p.m. U.S. - API Weekly Crude Oil Stock
  • 5:00 p.m. U.S. - FOMC Member Mester Speech

Wednesday, May 13

  • 8:30 a.m. U.S. - PPI m/m, Core PPI m/m
  • 9:00 a.m. U.S. - Fed Chair Powell Speech
  • 10:30 a.m. U.S. - Crude Oil Inventories
  • 1:01 p.m. U.S. - 30-y Bond Auction

Thursday, May 14

  • 8:30 a.m. U.S. - Unemployment Claims, Import Prices m/m
  • 11:00 a.m. U.S. - FOMC Member Kashkari Speech
  • 10:00 p.m. China - Fixed Asset Investment ytd/y, Industrial Production y/y, Retail Sales y/y, Unemployment Rate

Friday, May 15

  • 2:00 a.m. Eurozone - German Preliminary GDP q/q, German PPI m/m
  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index
  • 9:15 a.m. U.S. - Industrial Production m/m, Capacity Utilization Rate
  • 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Business Inventories m/m, JOLTS Job Openings, Preliminary UoM Inflation Expectations
  • 4:00 p.m. U.S. - TIC Long-Term Purchases
  • All Day, Eurozone - Eurogroup Meetings

EUR/USD

Monday, May 11

  • 4:00 a.m. Eurozone - Italian Industrial Production m/m

Tuesday, May 12

  • 6:00 a.m. U.S. - NFIB Small Business Index
  • 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
  • 10:00 a.m. U.S. - FOMC Member Harker Speech, FOMC Member Quarles Speech
  • 1:01 p.m. U.S. - 10-y Bond Auction
  • 2:00 p.m. U.S. - Federal Budget Balance
  • 5:00 p.m. U.S. - FOMC Member Mester Speech

Wednesday, May 13

  • 5:00 a.m. Eurozone - Industrial Production m/m
  • 5:40 a.m. Eurozone - German 30-y Bond Auction
  • 8:30 a.m. U.S. - PPI m/m, Core PPI m/m
  • 9:00 a.m. U.S. - Fed Chair Powell Speech
  • 1:01 p.m. U.S. - 30-y Bond Auction

Thursday, May 14

  • 2:00 a.m. Eurozone - German Final CPI m/m, German WPI m/m
  • 2:00 a.m. Eurozone - Preliminary Machine Tool Orders y/y
  • 4:00 a.m. Eurozone - ECB Economic Bulletin
  • 5:00 a.m. Eurozone - Italian Trade Balance
  • 8:30 a.m. U.S. - Unemployment Claims, Import Prices m/m
  • 11:00 a.m. U.S. - FOMC Member Kashkari Speech

Friday, May 15

  • 2:00 a.m. Eurozone - German Preliminary GDP q/q, German PPI m/m
  • 2:45 a.m. Eurozone - French Final CPI m/m
  • 5:00 a.m. Eurozone - Flash Employment Change q/q, Flash GDP q/q, Trade Balance
  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index
  • 9:15 a.m. U.S. - Industrial Production m/m, Capacity Utilization Rate
  • 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Business Inventories m/m, JOLTS Job Openings, Preliminary UoM Inflation Expectations
  • 4:00 p.m. U.S. - TIC Long-Term Purchases
  • All Day, Eurozone - Eurogroup Meetings

USD/JPY

Monday, May 11

  • 11:35 Japan - 10-y Bond Auction

Tuesday, May 12

  • 1:00 a.m. Japan - Leading Indicators
  • 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
  • 10:00 a.m. U.S. - FOMC Member Harker Speech, FOMC Member Quarles Speech
  • 5:00 p.m. U.S. - FOMC Member Mester Speech
  • 7:50 p.m. Japan - Bank Lending y/y, Current Account

Wednesday, May 13

  • 1:00 a.m. Japan - Economy Watchers Sentiment
  • 8:30 a.m. U.S. - PPI m/m, Core PPI m/m
  • 9:00 a.m. U.S. - Fed Chair Powell Speech
  • 7:50 p.m. Japan - M2 Money Stock y/y
  • 11:35 p.m. Japan - 30-y Bond Auction

Thursday, May 14

  • 8:30 a.m. U.S. - Unemployment Claims, Import Prices m/m
  • 8:30 a.m. Canada - Manufacturing Sales m/m
  • 11:00 a.m. U.S. - FOMC Member Kashkari Speech
  • 7:50 p.m. Japan - PPI y/y
  • 10:00 p.m. China - Fixed Asset Investment ytd/y, Industrial Production y/y, Retail Sales y/y, Unemployment Rate

Friday, May 15

  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index
  • 9:15 a.m. U.S. - Industrial Production m/m, Capacity Utilization Rate
  • 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Business Inventories m/m, JOLTS Job Openings, Preliminary UoM Inflation Expectations

GBP/USD

Tuesday, May 12

  • 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
  • 10:00 a.m. U.S. - FOMC Member Harker Speech, FOMC Member Quarles Speech
  • 5:00 p.m. U.S. - FOMC Member Mester Speech
  • 7:01 p.m. U.K. - BRC Retail Sales Monitor y/y

Wednesday, May 13

  • 2:00 a.m. U.K. - Preliminary GDP q/q, GDP m/m, Manufacturing Production m/m, Construction Output m/m, Goods Trade Balance, Index of Services 3m/3m, Industrial Production m/m, Preliminary Business Investment q/q
  • 8:30 a.m. U.S. - PPI m/m, Core PPI m/m
  • 9:00 a.m. U.S. - Fed Chair Powell Speech
  • 7:01 p.m. U.K. - RICS House Price Balance
  • Tentative U.K. - NIESR GDP Estimate

Thursday, May 14

  • 6:30 a.m. U.K. - BOE Governor Bailey Speech
  • 8:30 a.m. U.S. - Unemployment Claims, Import Prices m/m
  • 11:00 a.m. U.S. - FOMC Member Kashkari Speech

Friday, May 15

  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index
  • 9:15 a.m. U.S. - Industrial Production m/m, Capacity Utilization Rate
  • 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Business Inventories m/m, JOLTS Job Openings, Preliminary UoM Inflation Expectations

USD/CAD

Tuesday, May 12

  • 6:00 a.m. U.S. - NFIB Small Business Index
  • 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
  • 10:00 a.m. U.S. - FOMC Member Harker Speech, FOMC Member Quarles Speech
  • 4:30 p.m. U.S. - API Weekly Crude Oil Stock
  • 5:00 p.m. U.S. - FOMC Member Mester Speech

Wednesday, May 13

  • 8:30 a.m. U.S. - PPI m/m, Core PPI m/m
  • 9:00 a.m. U.S. - Fed Chair Powell Speech
  • 10:30 a.m. U.S. - Crude Oil Inventories

Thursday, May 14

  • 8:30 a.m. U.S. - Unemployment Claims, Import Prices m/m
  • 8:30 a.m. Canada - Manufacturing Sales m/m
  • 10:00 a.m. Canada - BOC Financial System Review
  • 10:30 a.m. U.S. - Natural Gas Storage
  • 10:30 a.m. Canada - BOC Governor Poloz Speech
  • 11:00 a.m. U.S. - FOMC Member Kashkari Speech
  • 10:00 p.m. China - Fixed Asset Investment ytd/y, Industrial Production y/y, Retail Sales y/y, Unemployment Rate

Friday, May 15

  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index
  • 8:30 a.m. Canada - Foreign Securities Purchases
  • 9:15 a.m. U.S. - Industrial Production m/m, Capacity Utilization Rate
  • 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Business Inventories m/m, JOLTS Job Openings, Preliminary UoM Inflation Expectations

AUD/USD

Monday, May 11

  • 9:30 p.m. Australia - NAB Business Confidence

Tuesday, May 12

  • 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
  • 10:00 a.m. U.S. - FOMC Member Harker Speech, FOMC Member Quarles Speech
  • 4:30 p.m. U.S. - API Weekly Crude Oil Stock
  • 5:00 p.m. U.S. - FOMC Member Mester Speech
  • 8:30 p.m. Australia - Westpac Consumer Sentiment
  • 9:30 p.m. Australia - Wage Price Index q/q

Wednesday, May 13

  • 8:30 a.m. U.S. - PPI m/m, Core PPI m/m
  • 9:00 a.m. U.S. - Fed Chair Powell Speech
  • 10:30 a.m. U.S. - Crude Oil Inventories
  • 9:00 p.m. Australia - MI Inflation Expectations
  • 9:30 p.m. Australia - Employment Change, Unemployment Rate

Thursday, May 14

  • 8:30 a.m. U.S. - Unemployment Claims, Import Prices m/m
  • 10:30 a.m. U.S. - Natural Gas Storage
  • 11:00 a.m. U.S. - FOMC Member Kashkari Speech
  • 10:00 p.m. China - Fixed Asset Investment ytd/y, Industrial Production y/y, Retail Sales y/y, Unemployment Rate

Friday, May 15

  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index
  • 9:15 a.m. U.S. - Industrial Production m/m, Capacity Utilization Rate
  • 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Business Inventories m/m, JOLTS Job Openings, Preliminary UoM Inflation Expectations

Thank you.

Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care

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