Important upcoming events and publications

Important upcoming events and publications for May 10 (GMT):

08:30 U.K. Gross Domestic Product. Risks for GBP: High. The 1Q19 first estimate is expected to mark a growth increase from 0.2% q/q and 1.4% y/y to 0.5% q/q and 1.8% y/y. Data is worse than expected can strengthen the pressure on the British pound.

12:30 Canada Employment. Risks for CAD: High. In April it is expected job growth by 15K after a decline by 7.2K in March. Since the end of last year, there are increasing signs that the Canadian economy is experiencing difficulties with growth. Weak data put pressure on the Canadian dollar on expectations of a softer monetary policy.

12:30 U.S. Consumer Price Index. Risks for USD: High. CPI is projected to accelerate from 1.9% y/y to 2.1% y/y. However, after yesterday’s weak PPI, there are higher chances that consumer inflation will be below expectations. The slowdown in inflation is usually negative for the currency, as it reduces the chances for rate hikes.

Detailed economic calendar