Key Economic Data
Initial Jobless Claims – Thursday, May 22
The weekly jobless claims figure will provide the latest indication of the health of the U.S. labor market.
S&P Global Flash PMI (May) – Thursday, May 22
This index reflects preliminary activity in the manufacturing and services sectors. The results will indicate whether there are signs of recovery or further slowdown in the economy.
New Home Sales (April) – Friday, May 23
This data will offer insight into the condition of the U.S. housing market, which currently faces challenges due to high interest rates and limited supply.
Policy Developments and Consumer Sentiment
Inflation and Pressure on the Fed
U.S. annual inflation dropped to 2.3% in April, but short-term inflation expectations surged to 7.3%, the highest since 1981. President Trump urged the Fed to cut interest rates, but the central bank remains cautious due to stagflation risks.
Consumer Sentiment Declines
The University of Michigan’s consumer sentiment index fell to 50.8 in May, the second-lowest level in history. This drop was driven by concerns over tariffs and inflation.
Retail Earnings Reports
Retail Company Earnings Reports
Major companies such as Target, Home Depot, Lowe’s, TJX, Ross Stores, and Ralph Lauren will release their financial reports this week. These will offer insights into the impact of tariffs on prices and consumer spending behavior.
📅 Key Economic Data Release Schedule
Here is the release schedule for major economic data this week:
| Date | Time (ET) | Economic Data |
|---|---|---|
| Thursday, May 22 | 08:30 | Initial Jobless Claims |
| Thursday, May 22 | 09:45 | S&P Global Flash PMI (May) |
| Friday, May 23 | 10:00 | New Home Sales (April) |
This week, the market’s main focus will be on housing market data, retail earnings reports, and developments in inflation and Fed monetary policy. These data points and events will offer a clearer picture of the future direction of the U.S. economy.
Global Economic Highlights
- G7 Meeting in Canada (May 20–22)
Finance Ministers and Central Bank Governors from G7 countries will gather in Banff, Alberta, to discuss global economic challenges, including U.S.-China trade tensions, economic security, and developments in AI. - China Economic Data
Retail Sales and Industrial Production (April): Both showed slower-than-expected growth, reflecting the negative impact of ongoing trade tensions.
Loan Prime Rate (LPR): The People’s Bank of China is expected to maintain the 1-year LPR at 3.1% and the 5-year LPR at 3.6%, in an effort to support economic growth. - Inflation and Global Monetary Policy
OECD Inflation: Annual inflation in OECD countries fell to 4.2% in March 2025, the lowest since July 2021, though food prices continued to rise.
Central Banks of Australia and Indonesia: Both are scheduled to hold monetary policy meetings this week, with markets anticipating potential interest rate adjustments in response to domestic economic conditions. - Energy and Commodity Markets
Oil Prices: Brent crude oil fell to around $65 per barrel, influenced by weak Chinese economic data and uncertainty surrounding U.S.-Iran nuclear talks.
Gold: Gold prices rose 1.3% to $3,245 per ounce, driven by concerns over the U.S. economy and the credit rating downgrade by Moody’s.
Key Global Economic Data Release Schedule
| Date | Country | Release |
|---|---|---|
| May 20 | China | Loan Prime Rate (LPR) |
| May 21 | United Kingdom | Consumer Price Index (CPI) |
| May 21 | South Africa | Inflation Data |
| May 22 | Global | S&P Global Flash PMI (May) |
| May 23 | United States | New Home Sales (April |
