US retail sales, German Q1 GDP, ZEW, Australia and UK employment figures, are key figures for the week.

Time in Sydney Australia

Monday

None

Tuesday

7am – German GDP (Q1, flash estimate): expected to rise by 0.5% QoQ, from 0.6%, and 2.8% YoY from 2.9%. Market to watch: EUR crosses

9.30am – UK employment data: March unemployment rate to rise to 4.3% from 4.2%, while April claimant count rises by 5K from an 11,600 increase. March average earnings to rise 3% from 2.8%. Market to watch: GBP crosses

10am – German ZEW (May): economic sentiment expected to be -1 from -8.2. Market to watch: EUR crosses

10am – eurozone GDP (Q1, 2nd estimate): QoQ growth expected to be 0.4% from 0.7% and 2.5% from 2.8% YoY. Market to watch: EUR crosses

1.30pm – US retail sales (April): expected to rise 0.4% from 0.6%. Market to watch: USD crosses

Wednesday

12.50am – Japan GDP (Q1, preliminary): expected to be 2.4% from 1.6%. Market to watch: JPY crosses

10am – eurozone CPI (April, final): no change to previous reading expected. Market to watch: EUR crosses

1.30pm – US housing starts & building permits (April): starts to rise by 0.4% and permits to be 0.6% higher. Market to watch: USD crosses

3.30pm – US EIA crude inventories (w/e 11 May): stockpiles expected to rise by 90,000 barrels. Markets to watch: Brent, WTI

Thursday

2.30am – Australia unemployment rate (April): expected to hold at 5.5%. Market to watch: AUD crosses

Friday

12.30am – Japan CPI (April): expected to be 1.4% YoY from 1.1%, and 0% MoM from -0.4%. Market to watch: JPY crosses

1.30pm – Canada CPI (April): expected to be 2.3% YoY, in line with last month. Market to watch: CAD crosses