A new week of May will carry along a flow of statistics from Asia and Great Britain; market attention will be focused on the minutes of the Fed. The atmosphere is quite full of news, which leaves little room for boredom.
Central banks: monetary policy assessed continuously
This week, meetings will be held by the Central banks of South Africa, Sri Lanka, Iceland, and Zambia. No critical changes in their credit and monetary policy are expected, but the comments of monetary authorities on the current situation and perspectives are always interesting. The more neutral the meetings and comments, the better for the currencies of the developing countries.
The Fed: check the minutes
At this new week of May, the Federal Reserve system will publish the minutes of its previous meeting. On different levels and in different formats, the Fed keeps voicing its commitment to further stimulation and support of the economy until the required macroeconomic result is reached; however, the market will be looking for any hints on plans to wind the stimulation up preliminary. For the USD, any such hint will be positive.
AUD: statistics will give Aussie drivers
This week, Australia is issuing a bunch of interesting statistics, including the employment market data, the CCI, and leading indicators. Moreover, the RBA will publish the minutes of its previous meeting. The AUD is now growing because the USD is weak, and statistics might give it extra support.
Europe: the GDP news will be informative
This week, Europe is getting ready to publish the prelim GDP for Q1. The expectations are that in January-March, 2021 the European economy has dropped by 1.8% y/y and by 0.6% q/q. The stronger the statistics, the better for the EUR; however, let us not count on miracles.
GBP: Britain is ready to ease restrictions
Starting this Monday, Great Britain is ready to lift some of the bans on people gathering in and outdoors, as well as let start most of the plants previously put on halt. This is good for the economy and will stimulate the growth of key macro indicators. This is also a stimulus for the GBP. Check the flow of macrostatistics as well.