Economic Calendar on May 20th 2024

Hi investors and traders! welcome to our Forex trading Signal and Analysis Site! Here we share, the Global Economic Calendar on May 20th, 2024 in America, Europe, and Asia Stay with us and take profit in the forex trading Market together! TPwithUS signals and analysis are based on Price actions, Gann Angels, and Astrology!

Economic Calendar on May 20th 2024:

How will US GDP, Consumer Confidence, and Housing Market Data Impact the Markets?

As the economy continues to navigate the COVID-19 pandemic, this week’s economic calendar is packed with crucial data that will likely impact market trends. On May 20th, investors will closely watch the release of US GDP, consumer confidence, and housing market data. This article will break down the key indicators, provide context, and explore how they may influence the markets.

Economic Calendar: May 20th 

• US: FOMC meeting minutes, S&P Manufacturing and Services PMI, durable goods orders, new and existing home sales.
• Earnings season: reports from major corporations like Palo Alto Networks, Lowe’s, Nvidia, and more.
• Global: interest rate decisions in China, New Zealand, South Korea, and Turkey.
• Inflation rates: Canada, UK, Japan, and South Africa.
• PMI data: Australia, Japan, India, France, Germany, Euro Area, and the UK.
• Consumer confidence: Australia, UK, and Euro Area.
• Retail sales: UK and Canada.
• Trade balance: Euro Area and Japan.

Key Dates to Watch:

• May 20th: FOMC meeting minutes.
• May 20th: S&P Manufacturing and Services PMI.
• May 21st: Earnings reports from major corporations.

America

US Market Focus: May 20th

• FOMC minutes: Fed’s next move on interest rates.
• Fed officials’ appearances: clues on rate cut timing.
• Data: S&P Global PMIs, durable goods orders, Michigan consumer sentiment.
• Durable goods orders: expected to slow down.
• Existing and new home sales: expected to decline.
• Earnings season: reports from Palo Alto Networks, Lowe’s, Nvidia, and more.

Global Economic Updates:

• Canada: inflation and retail sales updates.
• Mexico: final GDP growth figures and mid-month inflation.
• Chile: interest rate decision and GDP growth numbers.

Market Insights:

• Economic data suggests a cooling economy, but price pressures persist.
• Fed officials indicate higher-for-longer borrowing costs.
• Investors await signs of when the Fed may begin cutting interest rates.

Europe

UK Economic Calendar: May 20th

• Inflation: expected to slow to 2.1% in April, lowest since June 2021
• Retail sales: anticipated to drop for the first time in four months
• Gfk consumer confidence: expected to improve
• CBI factory orders: flash PMI surveys likely to show continued growth in the service sector and lesser contraction in manufacturing

Euro Area and Germany:

• Flash PMI data: The service sector is expected to expand faster and manufacturing contracts less
• Euro Area consumer confidence: expected to improve to highest level since February 2022
• Germany: producer prices expected to rise for the second consecutive month in April, albeit at a slower pace

Other Important Data:

• Euro Area: balance of trade and negotiated wages
• Germany: final Q1 GDP data
• Turkey: interest rate decision

Asia, Australia:

Asia-Pacific Economic Calendar: May 20th

• China: Property market rescue plans, loan prime rates, and yuan support
• Japan: April CPI print, trade deficit, and machinery orders
• India: May PMI figures
• South Korea and Indonesia: interest rate decisions (no changes expected)

Other Important Data:

• Thailand: first-quarter GDP.
• Malaysia: April CPI.
• Australia: May Westpac consumer sentiment index, PMI prints, and RBA meeting minutes.