This week features a number of important announcements, particularly that of GDP and CPI data of several countries. Aside from those, the US is also set to announce its retail sales data. Check out some of the most important events for the week of May 13-17:
Event: Retail Sales (MoM, Apr) – United States
Date: May 13, 2013
Time: 12:30pm (GMT)
What It Is About and Why It’s Important
With the US still struggling to keep its economy back on track (although the EU is in a more difficult position), investors continue to look for signs of improvement. The retail sales data is one sign investors usually look at since it is seen as a good indicator of consumer spending. The more they spend, the higher the retails sales will usually be. And with higher sales come the strong USD.
Update: US retail sales data came at a slightly positive 0.1% from the previous -0.5% (revised from -0.4%), and contrary to the -0.3% consensus.
Event: Consumer Price Index (YoY, Apr) – Germany
Date: May 14, 2013
Time: 6:00am (GMT)
What It Is About and Why It’s Important
An indicator of price changes in consumer goods and services, the CPI is a main indicator of inflation and changes in purchasing trends. Higher figures are favored as it creates a positive impact on a particular country’s currency.
Update: Germany announced a lower CPI of 1.1%, from last month’s 1.4% and against expectations of 1.3%.
Event: GDP (QoQ, YoY, Q1) – Germany
Date: May 15, 2013
Time: 6:00am (GMT)
What It Is About and Why It’s Important
As the Eurozone’s largest economy, all eyes are on Germany as it is set to announce its GDP data on Wednesday. Analysts expect the YoY figure to drop slightly from 0.4% to 0.2%, while the QoQ number is seen to rise from the previous -0.6% to 0.3%.
Event: GDP s.a. (YoY, Q1) – EU
Date: May 15, 2013
Time: 9:00am (GMT)
What It Is About and Why It’s Important
Analysts expect the Eurozone’s GDP to remain flat at -0.9%, which is better than a drop in the number, but still far from a healthy outlook of the EU’s economy.
Event: GDP (Annualised & QoQ, Q1) – Japan
Date: May 15, 2013
Time: 11:30pm (GMT)
What It Is About and Why It’s Important
Japan is also set to announce its GDP data later this week. Its previous annualised GDP was at 0.2% and is seen to rise to 2.8%, while its QoQ number is expected to jump from 0% to 0.7%.
Event: CPI (YoY, Apr) – EU
Date: May 16, 2013
Time: 9:00am (GMT)
What It Is About and Why It’s Important
The EU will announce its CPI and CPI Core data on Thursday, with the former expected to be at 1.2% and the Core data seen to drop from 1.5% to 1.0%.
Event: CPI (YoY, Apr) – US
Date: May 16, 2013
Time: 12:30pm (GMT)
What It Is About and Why It’s Important
The US follows the EU CPI data announcement several hours later. CPI figure is seen to slide slightly from 1.5% to 1.4%, and the CPI excluding food and energy is also expected to drop from 1.9% to 1.8%.
Event: CPI (YoY, Apr) – Canada
Date: May 17, 2013
Time: 12:30pm (GMT)
What It Is About and Why It’s Important
Canada wraps up the CPI data-dominated week with its own CPI announcement. The BoC CPI Core data is expected to drop from 1.4% to 1.2% and the CPI YoY is also expected to slide from 1.0% to 0.9%.
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