FX Economic Calendar

May 26 – May 30, 2025 

 

US Economic Data Releases:
This week the market will be closely watching three important data releases looking for insights into the U.S. economic trajectory and potential monetary policy responses.

U.S. Q1 GDP: On Thursday (May 29th), the second estimate for the Q1 GDP. This release is expected to confirm the initial contraction of 0.3% annualized, primarily attributed to increased imports and reduced government spending. Analysts foresee a modest rebound in the second quarter of the year, as long as the strong consumer spending trend continues.

In initial Jobless Claims: also on Thursday, the U.S. Department of Labor will release the Initial Jobless Claims for the week ending on May 24th. Analyst’s forecasts currently suggest a slight uptick to approximately 230,000 claims, following the prior week's 227,000. If the actual figure meets expectations, it will indicate a stable and resilient labor market, despite broader economic uncertainties created by the recent shift in U.S trade policy.

Personal Consumption Expenditures (PCE) Price Index: The April PCE data will be released on May 30, and it is expected to show a year-over-year increase of 2.2%, which is close to March’s 2.3% figure. Core PCE inflation is projected to remain steady at 2.5% vs a 2.6% increase in March. This indicator is important, as it is the main inflation gauge followed by the Federal Reserve.

Economic Calendar

Monday, May 26

United States: Memorial Day – Markets closed.

United Kingdom: Spring Bank Holiday – Markets closed.

European Union: ECB President Christine Lagarde delivers a keynote speech at the Hertie School in Berlin on Europe's role in a fragmented world.

 

Tuesday, May 27

United States

• Durable Goods Orders (April)
• Consumer Confidence Index (May)
• Minneapolis Fed President Neel Kashkari speaks at a Bank of Japan conference in Tokyo, advocating for steady interest rates amid tariff uncertainties.
• Dallas Fed Manufacturing Activity

United Kingdom:

•  CBI Distributive Trades Survey (May)

European Union:

•  Eurozone Economic Sentiment Indicator (May)
• Eurozone Consumer Confidence – Final (May)
• Bank of France Governor François Villeroy speaks in Paris

Australia:

•  CPI Inflation

•  Construction Works Done

New Zealand:

•  Reserve Bank of New Zealand (RBNZ) Interest Rate Decision

China:

•  April profits of industrial enterprises above the designated size.

 

Wednesday, May 28

United States:

•  FOMC Meeting Minutes (May)
• Richmond Fed Manufacturing Index
• Dallas Fed Services Activity

European Union:

• France GDP – Preliminary Estimate (Q1)
• France PPI
• Germany Unemployment Rate (May)
• ECB CPI Expectations (1 and 3 years)

Australia:

•  Private Capital Expenditure (Q1)

New Zealand:

•  ANZ Business Confidence (May)

 

Thursday, May 29

United States

• Initial Jobless Claims
• GDP Q1
• Fed Logan Remarks
• Fed Daly Remarks
• Fed Goolsbee participates in moderated Q&A

European Union:

•  Italy Business Confidence (May)
• Italy Consumer Confidence

Australia:

•  Retail Sales
• Private Sector Credit

New Zealand:

•  Building Permits (April)
• ANZ Consumer Confidence (May)

Japan:

•  Tokyo CPI (May)
• Jobless Rate (April)
• Industrial Production – Preliminary (April)

 

Friday, May 30

United States:

• Personal Consumption Expenditures (PCE) Price Index (April)
• Trade Balance
• Retail Inventories
• University of Michigan Business sentiment
• Univ. of Michigan 1-year inflation expectations
• Dallas Fed President Daly speaks in a panel conversation

European Union:

•  Germany Consumer Price Index (CPI) (May)
• Italy CPI (May)

Australia:

• M3 Money Supply (April)

Japan:

• Housing Starts (April)
• Retail Trade (April)
• Wholesale Sales (April)
• Large Retailers' Sales (April)

China:

• May Purchasing Managers’ Index (PMI) figures.