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Investors’ focus turns to the US retail sales and Eurozone inflation

NYSE traders

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After serious political and trade turmoils last week, the main Wall Street indexes ended the week with declines. Despite the rise on Friday, the S&P 500 marks its worst week since the beginning of the year with a fall of nearly 2.2%.

Donald Trump sent markets into a volatile spiral after US President Donald Trump tweeted that he intended to raise the rate of tariffs on the USD 200 Billion worth of Chinese imports to 25%.

Definitely, the new week does not seem to be the tensest for the markets, given the fact that there are no scheduled meetings of any of the big central banks. Among the key indicators expected to emerge are economic attitudes in Germany and preliminary data on the GDP growth in the country, industrial output in China, retail sales in the US and inflation in the Eurozone.

Upcoming economic data

On Monday, May 13, Australia will publish data on home loans in the country for March. In India will be released the inflation data for April.

On Tuesday, May 14, the day will start with Australia’s consumer confidence data. In Germany will be published the inflation for April with analysts’ consensus forecast to keep it at 1% on a monthly basis and 2% on an annual basis. There will be a number of data on the labor market in the UK. In the afternoon in Germany, the markets’ attention will be turned to the economic attitudes index with estimates for improvement. Later will be released the data on the economic attitudes and on industrial output for March. The Organization of Petroleum Exporting Countries will publish its monthly report.

On Wednesday, May 15, China will announce up-to-date data on industrial production and retail sales for April, as well as on the level of unemployment in the country. The market focus will be Germany’s preliminary GDP data with economist forecasts are for growth of 0.4% in the first quarter compared to the last three months of last year. For the Eurozone, the preliminary GDP data will also be released in the first quarter with expectations to maintain the growth of 0.4% on a quarterly basis and 1.2% YoY. There are a number of important data in the US, including retail sales, industrial output and crude oil stocks.

On Thursday, May 16, Australia will publish a series of data on the country’s labor market. There will be trade balance data for the Eurozone in March. The day will end with US data on construction permits in April, new homes and unemployment claims.

On Friday, May 17, a meeting of the Eurozone finance ministers will take place. Eurozone data on inflation will be published in April with forecasts for a monthly slowdown from 1% to 0.7% and a 1.7% YoY. Current data on GDP and trade balance will be released in Russia. The US ranks preliminary data on consumer sentiment in May as well as inflation expectations.

Upcoming corporate earnings

On Monday, May 13, the markets will focus on the financial statements of the Canadian mining giant Dundee Corporation, German electric utility company E.ON, and the offshore ultra-deepwater drilling company Pacific Drilling.

On Tuesday, May 14, the key event for investors will be the earnings report of German multinational financial services company Allianz SE, French electric utility company Electricite de France, gas distribution company ENGIE, the fashion company Ralph Lauren Corporation, as well as the luggage company Samsonite. During the day will also be published the financial statement of the German industrial engineering and steel production company Thyssenkrupp AG. The key focus of the markets will be the reports of the cannabis giants Aurora Cannabis and Tilray.

On Wednesday, May 15, the markets will focus on the earnings statements of the Dutch bank ABN AMRO, financial services company Credit Agricole, Swiss building materials manufacturer LafargeHolcim, and the Austrian banking group Raiffeisen Bank. The key events on the day will be the financial reports of the American department store chain Macy’s, the networking hardware company Cisco Systems, Chinese e-commerce giant Alibaba Group, and the aircraft manufacturer Embraer.

On Thursday, May 16, the focus of investors will be on the earnings reports of the shipping company Frontline Ltd, American multinational retail chain Walmart, as well as the Chinese technology company Baidu.