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Economic Data that needs Attention this Week

Tuesday 8th of May, U.S FOMC Member Speaks - N.Y Federal Reserve President John Williams will talk at the New York Economic Club. N.Y Fed is important regarding monetary policy particularly for financial institutions. Williams words should be given merit. Williams will also be likely listened to for any comments regarding U.S corporate banking health regarding mid-size and smaller institutions.

Wednesday 9th of May, U.S Consumer Price Index reports - three key inflation consumer price statistics will be published including monthly, annual and core monthly changes. The results will be important taking into consideration the manner the U.S Federal Reserve conducted its 'sitting on the fence' rhetoric last week, as if looking for an accuse to continue to raise interest rates if inflation remains stubborn or worse continues to climb.

Thursday 10th of May, U.K BoE Monetary Policy Summary and Official Bank Rate - which is expected to produce another increase of 0.25%.

GBP/USD One Month Chart as of 7th of May 2023

Friday 11th of May, U.K Gross Domestic Product - growth numbers from the U.K are expected to demonstrate economic conditions remain challenging.

Friday 11th of May, U.S Preliminary University of Michigan Consumer Sentiment - a rise in consumer sentiment from this report could add to the confusion and 'concern' that financial institutions have regarding the U.S Federal Reserve's short term monetary policy regarding the prospects for a June increase to the Federal Funds Rate. If the number is weaker than expected this could help 'pause' outlooks.


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