Market News Report: May 11 – May 15, 2020

Last week’s economic data releases have basically confirmed coronavirus damage to global economies. The U.S. Unemployment Rate hit almost 15%, as Friday’s monthly jobs data release showed. But will we get a meaningful downward correction following over-month-long rally in stocks? This week the markets will await Wednesday’s Fed Chair Powell speech.

The week behind

Last week’s economic data have revealed further coronavirus impact on global economies. The U.S. monthly jobs data came out on Friday and the Unemployment Rate got close to 15% from the previous value of 4.4%! However, the recent economic data releases seem to be very much priced in by the markets. And Tuesday’s ISM Non-Manufacturing PMI release has been better than expected.

The week ahead

What about the coming week? On Wednesday there will be a speech from the Fed Chair Jerome Powell. Friday’s U.S. Retail Sales will likely be very closely watched by the markets. On Wednesday we will get some important economic data releases from the Eurozone and Australia. Let’s take a look at key highlights:

• Wednesday’s Fed Chair Powell Speech will probably be the most important economic event of the coming week.
• On Friday we will get the U.S. Retail Sales number for the previous month.
• Friday’s German GDP number release will be closely watched by the Euro currency traders.
• The other important economic data releases this week include Wednesday’s U.K.’s GDP number and Australia’s Employment Change along with the Unemployment Rate
• Oil traders will also await Tuesday’s and Wednesday’s inventories data release.

You will find this week’s the key news releases below (EST time zone). For your convenience, we broken them down per market to which they are particularly important, so that you know what to pay extra attention to, if you have or plan to have positions in one of them. Moreover, we put the particularly important news in bold. This kind of news is what is more likely to trigger volatile movements. The news that are not in bold usually don’t result in bigger intraday moves, so unless one is engaging in a particularly active form of day trading, it might be best to focus on the news that we put in bold. Of course, you are free to use the below indications as you see fit. As far as we are concerned, we are usually not engaging in any day trading during days with “bold” events on a given market. However, in case of more medium-term trades, we usually choose to be aware of the increased intraday volatility, but not change the currently opened position.

Our Market News Report consists of two different time-related perspectives. The investors’ perspective is only suitable for the long-term investments. The single economic data releases rarely cause major outlook changes. Hence, we will only see a handful of bold markings every week. On the other hand, the traders’ perspective is for traders and day-traders, because the assets’ prices are likely to react on a single piece of economic data. So, there will be a lot more bold markings on potentially market-moving news every week.

Investors’ Perspective

Gold, Silver, and Mining Stocks

Wednesday, May 13

• 9:00 a.m. U.S. – Fed Chair Powell Speech

Friday, May 15

• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m

Crude Oil

Tuesday, May 12

• 4:30 p.m. U.S. – API Weekly Crude Oil Stock

Wednesday, May 13

• 9:00 a.m. U.S. – Fed Chair Powell Speech
• 10:30 a.m. U.S. – Crude Oil Inventories

Friday, May 15

• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m

Stock Markets

Wednesday, May 13

• 9:00 a.m. U.S. – Fed Chair Powell Speech

Friday, May 15

• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m

EUR/USD

Wednesday, May 13

• 9:00 a.m. U.S. – Fed Chair Powell Speech

Friday, May 15

• 2:00 a.m. Eurozone – German Preliminary GDP q/q
• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m

USD/JPY

Wednesday, May 13

• 9:00 a.m. U.S. – Fed Chair Powell Speech

GBP/USD

Wednesday, May 13

• 2:00 a.m. U.K. – Preliminary GDP q/q
• 9:00 a.m. U.S. – Fed Chair Powell Speech

Thursday, May 14

• 6:30 a.m. U.K. – BOE Governor Bailey Speech

USD/CAD

Wednesday, May 13

• 9:00 a.m. U.S. – Fed Chair Powell Speech

Thursday, May 14

• 10:30 a.m. Canada – BOC Governor Poloz Speech

Friday, May 15

• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m

AUD/USD

Wednesday, May 13

• 9:00 a.m. U.S. – Fed Chair Powell Speech
• 9:30 p.m. Australia – Employment Change, Unemployment Rate

Summing up, the financial markets will likely continue to react to news about globally spreading coronavirus in the near future. However, if you’re an investor and not a trader, you should pay extra attention to Wednesday’s Fed Chair Powell speech and Friday’s U.S. Retail Sales release. In addition, on Wednesday there will be some quite important data releases from Australia and the U.K.

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Market News Report – this analysis’ full version. The full Alert includes also the Traders’ Perspective which is very useful for the people who trade within shorter time frames. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

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Thank you.

Paul Rejczak
Stock Trading Strategist
Sunshine Profits – Effective Investments through Diligence and Care

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Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.