The Week Ahead

Read about upcoming market-moving events and plan your trading week

Week commencing 20 May

Chris Beauchamp's insight

UK and Japanese inflation and the monthly flash purchasing managers index (PMI) readings are the main events of the week on the economic front, though there are also a host of speeches by central bankers that may move markets. Nvidia is the last of the high profile US earnings reports to come through, while in the UK Marks & Spencer and Aviva both publish figures.

Economic reports

Monday
Tuesday
Wednesday
Thursday
Friday
Weekly view

10am – speech by Bank of England deputy governor Ben Broadbent. Markets to watch: GBP crosses

1.45pm – speech by FOMC member Bostic. Markets to watch: USD crosses

2pm – speech by FOMC member Barr. Markets to watch: USD crosses

1.30am – Australia Westpac consumer confidence (May): index forecast to rise to 83.1. Markets to watch: AUD crosses

2.30am – RBA meeting minutes. Markets to watch: AUD crosses

9am – speech by ECB president Lagarde. Markets to watch: EUR crosses

1.30pm – Canada CPI (April): prices expected to rise 2.8% YoY and 0.4% MoM, from 2.9% and 0.6%. Markets to watch: CAD crosses

2pm – 2.10pm – speeches by FOMC members Barkin. Williams, Bostic & Waller. Markets to watch: USD crosses

6pm – speech by BoE governor Bailey. Markets to watch: GBP crosses

12am – speeches by FOMC members Bostic, Collins & Mester. Markets to watch: USD crosses

7am – UK CPI (April): prices expected to rise 3.1% YoY and 0.5% MoM, from 3.2% and 0.6%. Markets to watch: GBP crosses

3.30pm – US EIA crude oil inventories (w/e 17 May): stockpiles fell by 2.5 million barrels in the preceding week. Markets to watch: Brent, WTI

7pm – FOMC minutes. Markets to watch: US indices, USD crosses

1.30am – Japan PMI (May, flash): previous readings were 49.6 for manufacturing and 54.3 for services. Markets to watch: JPY crosses

8.30am – German PMI (May, flash): manufacturing PMI to rise to 44 from 42.5. Markets to watch: EUR crosses

9.30am – UK PMI (May, flash): manufacturing PMI to rise to 49.7 from 49.1, services PMI to fall to 53.5 from 55. Markets to watch: GBP crosses

12.30pm – speech by BoE MPC member Huw Pill. Markets to watch: GBP crosses

1.30pm – US initial jobless claims (w/e 18 May), Chicago Fed index (April): claims expected to rise to 225K from 222K. Chicago Fed index forecast to rise to 0.16 from 0.15. Markets to watch: USD crosses

2.45pm – US flash PMI (May, flash): manufacturing expected to rise to 50.1 from 50 and services to rise to 51.4 from 51.3. Markets to watch: USD crosses

3pm – Eurozone consumer confidence (May, flash): index forecast to rise to -14.4. Markets to watch: EUR crosses

3pm – US new home sales (April): sales expected to fall 1.4% MoM. Markets to watch: USD crosses

8pm- speech by FOMC member Bostic. Markets to watch: USD crosses

12.30am – Japan CPI (April): prices forecast to rise 2.5% YoY, from 2.7%. Markets to watch: Nikkei 225, JPY crosses

7am – UK retail sales (April): sales expected to be 0.3% MoM and 1.1% YoY. Markets to watch: GBP crosses

1.30pm – US durable goods roders (April): orders expected to rise 0.3% overall and 0.1% excluding transportation. Markets to watch: USD crosses

Monday

10am – speech by Bank of England deputy governor Ben Broadbent. Markets to watch: GBP crosses

1.45pm – speech by FOMC member Bostic. Markets to watch: USD crosses

2pm – speech by FOMC member Barr. Markets to watch: USD crosses

Tuesday

1.30am – Australia Westpac consumer confidence (May): index forecast to rise to 83.1. Markets to watch: AUD crosses

2.30am – RBA meeting minutes. Markets to watch: AUD crosses

9am – speech by ECB president Lagarde. Markets to watch: EUR crosses

1.30pm – Canada CPI (April): prices expected to rise 2.8% YoY and 0.4% MoM, from 2.9% and 0.6%. Markets to watch: CAD crosses

2pm – 2.10pm – speeches by FOMC members Barkin. Williams, Bostic & Waller. Markets to watch: USD crosses

6pm – speech by BoE governor Bailey. Markets to watch: GBP crosses

Wednesday

12am – speeches by FOMC members Bostic, Collins & Mester. Markets to watch: USD crosses

7am – UK CPI (April): prices expected to rise 3.1% YoY and 0.5% MoM, from 3.2% and 0.6%. Markets to watch: GBP crosses

3.30pm – US EIA crude oil inventories (w/e 17 May): stockpiles fell by 2.5 million barrels in the preceding week. Markets to watch: Brent, WTI

7pm – FOMC minutes. Markets to watch: US indices, USD crosses

Thursday

1.30am – Japan PMI (May, flash): previous readings were 49.6 for manufacturing and 54.3 for services. Markets to watch: JPY crosses

8.30am – German PMI (May, flash): manufacturing PMI to rise to 44 from 42.5. Markets to watch: EUR crosses

9.30am – UK PMI (May, flash): manufacturing PMI to rise to 49.7 from 49.1, services PMI to fall to 53.5 from 55. Markets to watch: GBP crosses

12.30pm – speech by BoE MPC member Huw Pill. Markets to watch: GBP crosses

2.45pm – US flash PMI (May, flash): manufacturing expected to rise to 50.1 from 50 and services to rise to 51.4 from 51.3. Markets to watch: USD crosses

3pm – Eurozone consumer confidence (May, flash): index forecast to rise to -14.4. Markets to watch: EUR crosses

3pm – US new home sales (April): sales expected to fall 1.4% MoM. Markets to watch: USD crosses

8pm- speech by FOMC member Bostic. Markets to watch: USD crosses

Friday

12.30am – Japan CPI (April): prices forecast to rise 2.5% YoY, from 2.7%. Markets to watch: Nikkei 225, JPY crosses

7am – UK retail sales (April): sales expected to be 0.3% MoM and 1.1% YoY. Markets to watch: GBP crosses

1.30pm – US durable goods roders (April): orders expected to rise 0.3% overall and 0.1% excluding transportation. Markets to watch: USD crosses

Company announcements

	Monday 20 May	Tuesday 21 May	Wednesday 22 May	Thursday 23 May	Friday 24 May
Full-year earnings			British Land, Severn Trent, SSE, Marks & Spencer	National Grid, IDS
Half/ Quarterly earnings	Ryanair, Big Yellow		NVIDIA
Trading update*		Smiths Group, Kingfisher	Close Bros, Kier	Aviva

Dividends

FTSE 100: Whitbread, Diploma, DCC, Imperial Brands

FTSE 250: Ascential (20 May), Spire Healthcare, Bellway, TI Fluid, Tritax Big Box, Diversified Energy Co, HICL Infrastructure, Tritax Eurobox, Grainger

Dividends are applied after the close of the previous day’s session for each market. So, for example, the FTSE 100 goes ex-dividend on a Thursday, but the adjustment is applied at the close of the previous day, e.g. Wednesday. The table below shows the days in which the adjustment is applied, not the ex-dividend days.

Index adjustments

	Monday 20 May	Tuesday 21 May	Wednesday 22 May	Thursday 23 May	Friday 24 May	Monday 27 May
FTSE 100			1.91
Australia 200	0.4		1.1	0.3		0.1
Wall Street			4.6
US 500	0.14	0.07	0.19	0.30		0.02
Nasdaq	0.32	0.44	0.35
Netherlands 25						0.56
EU Stocks 50	7.1					4.0
China H-Shares		1.0	1.4
Singapore Blue Chip	0.06
Hong Kong HS50	2.7	4.4	2.6	2.6	6.6	12.4
South Africa 40
Italy 40
Japan 225

* Please note these can change without notice

¹ Dividend adjustments due to be posted on a bank holiday will usually be posted on the previous working day

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