At 08:00 GMT, BOE Governor Mark Carney is due to deliver opening remarks at the BOE’s Markets Forum, in London. GBP pairs can move in reaction to comments made during this event.
At 08:15 GMT, US Fed’s William Dudley is due to speak on reference rate reform at the BOE’s Markets Forum, in London. He will take part in an audience questions session from 8:50 GMT. USD crosses can react to comments made during this time.
At 08:30 GMT, UK Retail Sales (YoY) (Apr) is expected to be 0.1% from 1.1% previously. Retail Sales (MoM) (Apr) is expected at 0.7% against a prior -1.2%. Retail Sales ex-Fuel (YoY) (Apr) is expected to be 0.1% from 1.1% previously. Retail Sales ex-Fuel (MoM) (Apr) is expected at 0.4% against a prior -0.5%. Yearly figures are expected to show a decrease but monthly numbers are expected to exceed expectations and show a jump in sales. This is a volatile data set but it does give a view on consumer spending. GBP crosses can experience an increase in volatility following this data release.
At 11:30 GMT, ECB Monetary Policy Meeting Accounts will be published. This is expected to remain upbeat on continued increases in inflation while disregarding the fall in Euro area economic data. EUR pairs can move in reaction to the statements in this release.
At 12:30 GMT, US Continuing Jobless Claims (May 11) is expected to be 1.754M against 1.707M previously. Initial Jobless Claims (May 18) is expected to come in at 220K against 222K previously. This data is showing an increase in the number of continuing claims but new claims have stabilized somewhat. USD crosses can see an increase in volatility from this data release.
At 13:00 GMT, US House Price Index (MoM) (Feb) is expected at 0.5% from 0.6% previously. This data is expected slip lower again after a strong improvement in the March reading. USD crosses may be heavily traded as a result of this data.
At 14:00 GMT US Existing Home Sales (MoM) (Mar) is expected to be 5.57M against 5.60M previously. After reaching a seven year high in November at 5.81M, this data point had slipped lower over the previous two months signalling a little softness in the sector but recovered somewhat last month and in March. That recovery is expected to continue with this reading. USD crosses can be moved by this data as analysts try to understand the impact on the economy.
At 14:35 GMT, FOMC Member Bostic is due to deliver opening remarks at a research event on technology-enabled economic disruptions, cohosted by the Atlanta Fed and Dallas Fed, in Dallas. Audience questions are expected. USD crosses can see spikes in volatility during this time.
At 17:00 GMT, UK BOE Governor Mark Carney is due to speak at the Society of Professional Economists’ annual dinner, in London. GBP crosses may be affected by any comments made.
At 18:00 GMT, FOMC Member Harker is due to speak at a scheduled event. USD crosses can see spikes in volatility during this event.