Economic calendar: German ZEW and US retail sales in macro focus 🔎

The macro calendar for today is relatively busy, with key attention focused on sentiment indicators from Germany and the Eurozone (ZEW), as well as US data, particularly retail sales.

Economic calendar

10 AM GMT, Germany: ZEW Economic Sentiment (expected -5.8 vs -0.5 prior)

Germany: ZEW Current Conditions (expected -70.5 vs -62.9 prior)
Eurozone: ZEW Inflation Expectations (expected -11.2 vs -8.5 prior)

1:15 PM GMT, US: ADP Employment Change (previous 39.25K)

1:30 PM GMT, US: Retail Sales MoM (expected 1.4% vs 0.6% prior)

US: Core Retail Sales MoM (expected 1.4% vs 0.5% prior)
US: Retail Sales YoY (previous 3.71%)

1:55 PM GMT, US: Redbook Index YoY (previous 7%)

3 PM GMT, US: Pending Home Sales MoM (expected 0.5% vs 1.8% prior)

US: Business Inventories MoM (expected 0.3% vs -0.1% prior)
US: Pending Home Sales Index (72.1)

9:30 PM GMT, US: API Weekly Gasoline Inventories (expected +0.626M)

US: API Weekly Distillate Inventories (expected -3.4M)
US: API Weekly Cushing Inventories (expected -1.7M)
US: API Weekly Crude Oil Inventories (expected +6.1M)

Central bank speakers

07:30 AM GMT: Nagel (ECB)
08;00 AM GMT: de Guindos (ECB)
09:30 AM GMT: Koch (ECB) and Rehn (ECB)
3 PM GMT: Waller (Fed)
5:15 PM GMT: Tschudin (SNB)
7:30 PM GMT: Waller (Fed)

EURUSD, H1 interval

Source: xStation5

12 May 2026, 1:30 PM

BREAKING: U.S. CPI shows persistent inflation pressure! Dollar Strengthens After Data Release!

12 May 2026, 12:02 PM

📉 EURUSD down 0.3% ahead of April’s inflation

12 May 2026, 7:50 AM

🟡Chart of the Day: Gold Slides Ahead of Inflation (12.05.2026)

12 May 2026, 7:03 AM

Economic Calendar - Inflation Takes Center Stage (12.05.2026)

Economic reports

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