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For the Dollar:
In the 1st half of the week, NY Empire State Manufacturing and housing sector figures are due out.
Expect May’s manufacturing numbers to garner the greatest interest early in the week.
After a quiet Wednesday, the focus will shift to Philly FED Manufacturing and weekly jobless claim figures.
While both sets of numbers are key, we can expect the jobless claim figures to have a greater impact on the Dollar.
At the end of the week, prelim private sector numbers and existing home sales figures are due out.
Expect May’s prelim Services PMI to have the greatest influence on the Dollar and market risk sentiment.
On the monetary policy front, the FOMC meeting minutes on Wednesday will be key. Any chatter on inflation will be of greatest interest.
In the week, the Dollar ended the week up by 0.10% to 90.321.
For the EUR:
It’s a busier week on the economic data front.
On Tuesday, 2nd estimate GDP numbers for the Eurozone will provide the EUR with direction.
Trade figures for March are also due out but will likely have a muted impact on the EUR>
On Wednesday, finalized April inflation figure for the Eurozone are due out ahead of a busy Friday.
Prelim private sector PMIs for France, Germany, and the Eurozone wrap things up at the end of the week.
The big question will be whether the momentum can continue going into the summer… A pickup in service sector activity will be needed.
The EUR ended the week down by 0.21% to $1.2141.
For the Pound:
It’s a busy week ahead on the economic calendar.
Employment and inflation figures are due out on Tuesday and Wednesday.
With the markets expect a near-term pickup in inflationary pressures, the employment figures will be key.
On Thursday, CBI Industrial Trend Orders will draw interest ahead of a particularly busy Friday.
At the end of the week, retail sales and prelim private sector PMI numbers for May are due out.
Expect the retail sales and services PMI figures to have the greatest impact on the Pound.
The Pound ended the week up by 0.81% to $1.4097.
For the Loonie:
It’s a relatively quiet week ahead on the economic calendar.
Key stats in the week include April inflation figures on Wednesday and March retail sales figures on Friday.
Following the BoC’s hawkish outlook, expect the retail sales figures to have the greatest influence on the Loonie.
Early in the week, housing starts and foreign securities purchases are also due out but will likely have a muted impact.
The Loonie ended the week up 0.24% to C$1.2104 against the U.S Dollar.
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