W Week Ahead

Week Ahead: Beige Book, U.S. Employment Report, Chinese PMIs, EU Special Meeting, OPEC+ Meeting

30 May, 2022

Key Macro Events

🇺🇸 US markets closed for the Memorial Day holiday (30)

🇪🇺 EU leaders start a two-day special meeting in Brussels with the war in Ukraine driving the agenda. Defense, inflation, energy and food security will take the spotlight – Bloomberg (30)

🇪🇺 Eurozone economic confidence, consumer confidence for May (30)

🇺🇸 Fed Governor Christopher Waller discusses the economic outlook at an event at the Goethe University in Frankfurt hosted by the Institute for Monetary and Financial Stability – Bloomberg (30)

🇨🇳 Official Manufacturing and non-Manufacturing PMIs (31)

🇸🇪 Riksbank Governor Stefan Ingves to discuss Sweden’s inflation targeting policy – Bloomberg (31)

🇮🇹 Bank of Italy annual report presentation with Governor Ignazio Visco – Bloomberg (31)

🇪🇺 Irish central bank governor Gabriel Makhlouf to speak at Irish funds annual – Bloomberg (31)

🇪🇺 Bank of France Governor Francois Villeroy de Galhau speaks at the presentation of the annual report of France’s banking supervisor ACPR – Bloomberg (31)

🇪🇺 CPI for May (31)

🇺🇸 U.S President Joe Biden will meet Chair of the Federal Reserve of the United States Jerome Powell on Tuesday to discuss the state of American and global economy, the White House said in a statement late on Sunday – Reuters (31)

🇯🇵 Japan increases the daily cap on the number of visitor arrivals to 20,000 from the current 10,000 as a step toward more widely opening its borders – Nikkei (1)

🇰🇷 South Korea will restart issuing tourist visas, opening its door after two years – Nikkei (1)

🇰🇷 South Korean voters will cast ballots in mayoral, gubernatorial, council member and school district superintendent elections – Nikkei (1)

🇨🇳 Caixin Manufacturing PMI (1)

🌎 S&P Global Manufacturing PMIs (1)

🇪🇺 🇨🇳 ECB Governing Council member Klaas Knot gives a keynote speech at the Bank of International Settlements’ “Green Swan” conference. People’s Bank of China Governor Yi Gang, ECB President Christine Lagarde and other central bankers also speech about the green transition at the virtual event – Bloomberg (1)

🇬🇧 BOE’s Decision Maker Panel survey results released at a time of rising inflation and a cost of living squeeze – Bloomberg (1)

🇺🇸 New York Fed President John Williams makes opening remarks at an event on Monetary Policy Implementation and Digital Innovation hosted by his bank and Columbia University – Bloomberg (1)

🇺🇸 St. Louis Fed President James Bullard discusses the economic and policy outlook at the Economic Club of Memphis – Bloomberg (1)

🇺🇸 ISM Manufacturing for May (1)

🇨🇦 BoC Meeting (1)

🇺🇸 The Federal Reserve is set to start shrinking its $8.9 trillion balance sheet (1)

🇺🇸 Beige Book (1)

🌎 A virtual OPEC+ meeting is unlikely to bring relief to a strained energy complex, with the group set to continue on its path of modest increases to oil supply – Bloomberg (2 & 3)

🇪🇺 🇹🇼 The EU is scheduled to hold an “upgraded” trade dialogue with Taiwan – Nikkei (2)

🇪🇺 Bank of France Governor Francois Villeroy de Galhau speaks at conference at the Centre for Economic Policy Research in Paris – Bloomberg (2)

🇪🇺 Hernandez de Cos speaks at a conference at the Centre for Economic Policy Research in Paris – Bloomberg (2)

🇸🇪 Riksbank Deputy Governor Per Jansson to speak about current monetary policy and the economy – Bloomberg (2)

🇺🇸 ADP Employment Report for May (2)

🇺🇸 Cleveland Fed President Loretta Mester discusses the economic outlook at virtual event hosted by the Philadelphia Council for Business Economics – Bloomberg (2)

🇺🇸 New York Fed Executive Vice President Lorrie Logan makes closing remarks at an event on Monetary Policy Implementation and Digital Innovation hosted by her bank and Columbia University – Bloomberg (2)

🇺🇸 EIA crude oil inventory report (2)

🇪🇺 Robert Holzmann opens event: 50th Anniversary Ceremony and wiiw Spring Seminar 2022: „Prospects for Europe‘s growth and integration after the pandemic and the war in Ukraine” – Bloomberg (3)

🌎 The UN’s Food and Agriculture Organization releases its monthly food price index at a time of maximum concern about global supplies – Bloomberg (3)

🌎 S&P Global Services PMIs (3)

🇺🇸 Employment Report for May (3)

🇺🇸 ISM Services for May (3)

🇺🇸 Fed Vice Chair Lael Brainard discusses the Community Reinvestment Act at an event in Washington hosted by the Urban Institute – Bloomberg (3)




Focus on U.S. Economic Calendar

Top 10 Macro/Financial Charts of the Previous Week – w21

What happened in the World Economy last Week – in charts – w21 (Bloomberg)

*Note: Previous reports can be found here