Economic Calendar: Global Data Focus Shifts to US and Canada,

Today's macro session is fairly mixed in nature, but the focus remains clearly shifted toward data from major developed economies. Investors will primarily watch US and Canadian releases for fresh signals on the state of their economies after recent fluctuations in sentiment. In Europe, attention will be concentrated on inflation data from Poland, which may help assess the pace of disinflation and the outlook for NBP monetary policy. A range of smaller economies’ data will also be released, though these are likely to have a more localized impact on currencies and central bank expectations.

Economic Calendar for Today

• 08:00 Norway: Foreign Trade Balance (NOK) : April : 84.2 bn (previous 97.5 bn)
• 09:00 Czech Republic: CNB Meeting Minutes : May
• 09:30 Poland: CPI Inflation final (m/m) : April : forecast 0.6% : (previous 1.1%)
• 09:30 Poland: CPI Inflation final (y/y) : April : forecast 3.2% : (previous 3.0%)
• 10:00 Italy: CPI Inflation final (m/m) : April : forecast 1.2% : (previous 0.5%)
• 10:00 Italy: CPI Inflation final (y/y) : April : forecast 2.8% : (previous 1.7%)
• 10:00 Czech Republic: Current Account Balance (CZK) : March : 13.1 bn : (previous 17.37 bn)
• 14:00 Poland: Balance of Payments : March
• 14:00 Poland: Current Account (EUR) : March : -1,250 mln : (previous -990 mln)
• 14:00 Poland: Trade Balance (EUR) : March : (previous -1,025 mln)
• 14:00 Romania: NBR Interest Rate Decision : May : forecast 6.50% : (previous 6.50%)
• 14:15 Canada: Housing Starts : April : forecast 241k : (previous 235.9k)
• 14:30 USA: NY Empire State Index : May : forecast 7.7 : (previous 11)
• 14:30 Canada: Manufacturing Sales (m/m) : March : (previous 3.6%)
• 15:15 USA: Industrial Production (m/m) : April : forecast 0.3% : (previous -0.5%)
• 15:15 USA: Capacity Utilization : April : forecast 75.9% : (previous 75.7%)
• 15:15 USA: Industrial Production (y/y) : April : (previous 0.7%)
• 19:00 USA: Baker Hughes Oil Rig Count : weekly : 411 : (previous 410)