WEEKLY ECONOMIC CALENDAR AHEAD
Here is what you need to know about the important news between May 8ths 2023 and May 12th, 2023, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key correlated assets.
U.S. dollar index
US Dollar Index (DXY) rebounds from short-term key support as it consolidates losses made in the last two weeks around 101.35 early Monday in Asia. In doing so, the greenback’s gauge versus six major currencies benefits the latest hawkish Fed speak and challenges market sentiment. Also keeping the DXY buyer’s hopeful is the cautious mood ahead of this week’s US inflation data and a survey report on the US banking lending practices and current conditions.
Gold
Friday’s marked pullback in gold prices was on the back of shrinking open interest and volume, leaving no room for the continuation of the decline in the very near term. That said, the precious metal continues to target the 2023 high at $2067 per ounce troy (May 4), just ahead of the all-time peak at $2075 (August 7, 2020).
Oil.
West Texas Intermediate (WTI), futures on NYMEX, are gathering support for extending a rally above the crucial resistance of $72.00 in the early Tokyo session. The oil price has attracted bullish traction as various central banks along with the Federal Reserve (Fed) are considering an end to their policy-tightening spell to avoid further damage to their respective economies.
Stocks
In the week ahead, investors will be looking towards key consumer, producer, import and export price indexes as well as preliminary Michigan sentiment and expectation readings.
Speeches from the Fed’s Jefferson, Waller and the FOMC’s Bowman will also be closely watched.
Earnings season is set to continue this week with companies including Berkshire Hathaway, PayPal Holdings, Airbnb, Toyota Motor, Walt Disney, Occidental Petroleum, and Tapestry, scheduled to deliver results.
Economic calendar most important releases – All times are GMT
Wednesday, May 10, 2023
12:30 USD CPI m/m
12:30 USD CPI y/y
12:30 USD Core CPI m/m
Thursday, May 11, 2023
11:00 GBP BOE Monetary Policy Report
11:00 GBP MPC Official Bank Rate Votes
11:00 GBP Monetary Policy Summary
11:00 GBP Official Bank Rate
11:30 GBP BOE Gov Bailey Speaks
12:30 USD Core PPI m/m
12:30 USD PPI m/m
12:30 USD Unemployment Claims
Friday, May 12, 2023
03:00 NZD Inflation Expectations q/q
06:00 GBP GDP m/m
14:00 USD Prelim UoM Consumer Sentiment
Thanks for reading! Have a great week! 
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