Irish Jobless Rate Falls To 4.8%
Thursday, May 7,2026,11:33
Ireland's unemployment rate decreased in April after remaining stable in the previous two months. The seasonally adjusted unemployment rate dropped to 4.8 percent in April from March's stable rate of 5.0 percent. In the corresponding month last year, the rate was 4.6 percent. There were 140,300 unemployed people in April compared to 146,200 in the previous month. .. read more..
French Trade Gap Widens In March
Thursday, May 7,2026,11:01
France's foreign trade deficit increased in March as imports grew faster than exports. The trade gap widened to EUR 6.9 billion in March from EUR 5.5 billion in February. The expected deficit was EUR 5.6 billion. Exports posted a monthly increase of 1.0 percent in March, while imports climbed at a comparatively faster pace of 3.2 percent. .. read more..
Norway Central Bank Hikes Rate Unexpectedly
Thursday, May 7,2026,10:44
Norway's central bank raised its benchmark rate unexpectedly by a quarter-point on Thursday as the war in the Middle East pushed up inflation and raised substantial uncertainty about the economic outlook. The Monetary Policy and Financial Stability Committee of Norges Bank decided to raise the policy rate to 4.25 percent from 4.0 percent. .. read more..
Hungary Retail Sales Growth Strongest Since May 2022
Thursday, May 7,2026,10:37
Hungary's retail sales expanded at the quickest pace in nearly four years in March. Retail sales climbed a calendar-adjusted 8.2 percent yearly in March, faster than the 3.8 percent growth in the prior month. The acceleration in growth was mainly driven by a 20.6 percent jump in sales of automotive fuel. The annual sales growth in non-food products quickened to 8.4 percent from 5.0 percent. .. read more..
Eurozone Retail Sales Fall Slightly
Thursday, May 7,2026,10:11
Eurozone retail sales dropped marginally in March as reduced food and auto fuel sales were partially offset by the increased non-food product sales, official data revealed Thursday. .. read more..
7 reasons why the Hormuz shock hasn’t tipped the world into recession: BCA
Thursday, May 7,2026,10:00
The global economy has proven more resilient than many feared in the wake of the Strait of Hormuz closure, but BCA Research is warning that the window for avoiding a recession is narrowing fast. Chief Strategist Peter Berezin outlined seven factors that have buffered the global economy so far, while cautioning that “the risk of ... .. read more..
Decoding China: Beijing courts Europe amid US dysfunction
Thursday, May 7,2026,10:00
These days, Europe is losing its significance in global politics and the economy,” a law student shouted from the audience during a recent political TV talk show broadcast on Shanghai Media Group (SMG), a Chinese state media outlet. “Are the European elite and the public aware of this?” The question reflects Chinese public perception of ... .. read more..
Rates Spark: Big rate decisions as oil tests highs
Thursday, May 7,2026,10:00
US curve flattens on front end scare factor Earlier Wednesday, the US 10yr yield had gapped higher, and hit 4.4%. Actually, the whole curve gapped up. The hold-out in the Strait of Hormuz was the catalyst. Some duration selling makes a lot of sense here, where we are in “nowhere land” on a resolution to ... .. read more..
Reconfiguring Europe in a fractured global economy: The Florence Report
Thursday, May 7,2026,10:00
The dramatic developments unfolding globally, spanning wars, geopolitical shifts, and trade disruptions, have caught Europe off balance. The 2026 Florence Report urges the EU to replace its broken ‘reduced responsibility model’ with a New European Social Contract integrating defence, finance, and the supply of public goods. In this column, the editors of the report argue ... .. read more..
Philippine Economy Logs Slowest Growth In 5 Years
Thursday, May 7,2026,09:53
The Philippine economy expanded at the slowest pace in five years in the first quarter amid declining investment, weaker household spending and exports. Gross domestic product grew 2.8 percent on a yearly basis in the first quarter, the Philippine Statistics Authority said Thursday. This followed a 3.0 percent expansion seen in the fourth quarter and marked the weakest expansion since the first q .. read more..
Czech Industrial Output Growth Eases; Trade Surplus Grows
Thursday, May 7,2026,08:47
The Czech Republic's industrial output growth moderated further in March to the lowest level in six months. Industrial production rose a working-day-adjusted 0.9 percent year-on-year in March, slower than the 1.3 percent increase in February. The trade surplus rose to 31.9 billion in March from CZK 28.1 billion in the corresponding month last year. .. read more..
Swiss Jobless Rate Falls To 3.0% In April
Thursday, May 7,2026,08:08
Switzerland's unemployment rate decreased further in April to the lowest level in five months. The unadjusted unemployment rate dropped to 3.0 percent in April from 3.1 percent in March. In the corresponding month last year, the jobless rate was 2.8 percent. There were 146,902 unemployed people in April compared to 146,255 in the prior month. .. read more..
ECB policymaker Villeroy urges against speculating on timing of potential rat...
Thursday, May 7,2026,07:59
ECB's François Villeroy, Governor of the Banque de France, cautioned against premature speculation regarding the timing of future interest rate hikes. Villeroy has been emphasising that the ECB must remain "data-driven, not date-driven". He recently said that the ECB needs "critical mass of data" before considering rate hikes and added that any tightening would depend above all on signs that inflation is spreading beyond its initial drivers, particularly through underlying price pressures. He noted that while the next move for the ECB is "highly likely to be upwards" a focus on specific months, such as June, is premature. In a recent panel he said that "there is no predetermined calenda... .. read more..
Denmark Industrial Output Rebounds Sharply
Thursday, May 7,2026,07:36
Denmark's industrial production expanded strongly after falling in the previous month. Industrial production advanced a seasonally adjusted 8.6 percent month-on-month in March, reversing a 4.5 percent decline in February. The pharmaceutical industry grew 15.0 percent compared to February, and output produced in the electronics industry jumped by 37.0 percent. .. read more..
German Factory Orders Growth Tops Expectations
Thursday, May 7,2026,07:10
German factory orders grew at a faster pace in March as manufacturers rushed to secure raw materials ahead of potential future price increases and supply shortages. Factory orders increased 5.0 percent in March compared to February's revised growth of 1.4 percent, Destatis reported Thursday. The monthly increase significantly outpaced the 1.0 percent forecast. .. read more..
ECB's Nagel: The ECB is likely to hike rates unless the outlook improves mark...
Thursday, May 7,2026,07:03
The ECB is likely to hike rates unless the outlook improves markedly This is the exact same thing he said on Monday, so there's nothing to see here. The ECB has already signalled that a rate hike in June is coming unless the war ends and oil prices fall significantly before then. The market is pricing in a 72% probability of a rate hike at the next meeting. It's not 100% because there's still a good chance that the war really ends before then and once the Strait of Hormuz is reopened, oil prices will almost surely fall quickly. That's why US-Iran headlines continue to be the main driver of basically every asset class. The global economy depends on the Strait of Hormuz. This article was wr... .. read more..
Retail Sales. EU, 11:00 (GMT+2)
Thursday, May 7,2026,07:00
At 11:00 (GMT+2), the UK will release March retail sales data, an indicator that tracks the monthly volume of all goods sold by retailers based on samples of stores of various types and sizes. It is an important indicator of consumer spending, which has a significant impact on gross domestic product (GDP). The indicator is expected to adjust from −0.2% to −0.3% MoM and from 17,0% to 1,6% YoY. Read more .. read more..
Romania Retail Sales Fall 3.2% In March
Thursday, May 7,2026,06:41
Romania's retail sales declined for the eighth straight month in March. Retail sales fell by a working-day-adjusted 3.2 percent year-on-year in March, slower than the 5.9 percent decrease in February. Sales have been falling since August 2025. Sales of non-food products alone contracted 7.4 percent annually in March, and those of food products dropped 3.0 percent. .. read more..
Construction PMI. United Kingdom, 10:30 (GMT+2)
Thursday, May 7,2026,06:30
At 10:30 (GMT+2), the UK will publish April data on the construction sector business activity index, based on a survey of managers of the country’s largest companies. It is likely to increase from 45.6 points to 46.0 points, supporting the pound quotes. Read more .. read more..
Unemployment Rate. Switzerland, 09:00 (GMT+2)
Thursday, May 7,2026,05:00
At 09:00 (GMT+2), Switzerland will release April unemployment data on the unemployment rate, an indicator that records the percentage of unemployed people over 18 years of age in relation to the total working-age population. Only registered unemployed citizens are counted. If the value increases from 3.0%, seasonally adjusted, and from 3.1% without taking them into account, this will put pressure on the quotes of the Swiss national currency. Read more .. read more..
Australia Trade Balance Swings To Deficit
Thursday, May 7,2026,04:51
Australia's trade balance registered its first deficit since late 2017 amid a sharp increase in imports, data published by the Australian Bureau of Statistics showed on Thursday. .. read more..
Trade Balance. France, 08:45 (GMT+2)
Thursday, May 7,2026,04:45
At 08:45 (GMT+2) France will publish March data on the trade balance, an indicator that records the difference between the number of payments for exported and imported goods. The increase in the trade balance is supportive for the euro. The negative dynamics are expected to slow from 5.8B euros to 5.6B euros, which may still exert pressure on the single European currency. Read more .. read more..
Factory Orders. Germany, 08:00 (GMT+2)
Thursday, May 7,2026,04:00
At 08:00 (GMT+2) in Germany, March data on production orders will be released, detailing the volume of orders for durable and non-durable goods. The figure is expected to adjust from 0.9% to 1.1%, which, in turn, may provide support to the euro. Read more .. read more..
PBOC sets USD/ CNY reference rate for today at 6.8487 (vs. estimate at 6.8087)
Thursday, May 7,2026,01:17
The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. Injects 27bn yuan via 7-day reverse repos in open market operates today. Unchanged rate of 1.4%. This article was written by Eamonn Sheridan at investinglive.com. .. read more..
PBOC is expected to set the USD/CNY reference rate at 6.8087 – Reuters estimate
Thursday, May 7,2026,00:32
The People’s Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most closely watched signals in Asian foreign exchange markets. China operates a managed floating exchange rate system, under which the renminbi (yuan) is allowed to trade within a prescribed band around a central reference rate, or midpoint, set each trading day by the PBOC. The current trading band permits the currency to move plus or minus 2% from the official midpoint during onshore trading hours. Each morning, the PBOC determines the midpoint based on a range of inputs. These include the previous day’s closing price, movements in major ... .. read more..
Japan Monetary Base Shrinks 11.3% In April
Thursday, May 7,2026,00:05
The monetary base in Japan was down 11.3 percent on year in April, the Bank of Japan said on Thursday - coming in at 570.787 trillion yen. .. read more..
BOJ March minutes says rates will be raised in line with improvements in econ...
Wednesday, May 6,2026,23:56
Bank of Japan held rates at 0.75% in March in an 8-1 vote, with minutes showing the board debated Iran war inflation risks and the danger of falling behind the curve on price stability. Full text here. Summary: The Bank of Japan's Policy Board voted 8-1 at its March 18-19 meeting to keep the uncollateralized overnight call rate at around 0.75%, with board member Takata Hajime the sole dissenter arguing for an immediate hike to 1.0%, per the official minutes Members agreed Japan's economy was recovering moderately but flagged that the Iran conflict had pushed crude oil prices sharply higher, increased financial market volatility, and introduced meaningful uncertainty into the inflation and... .. read more..
Trade Balance. Australia, 03:30 (GMT+2)
Wednesday, May 6,2026,23:30
At 03:30 (GMT+2) Australia will publish March data on the trade balance, an indicator that records the difference between the number of payments for exported and imported goods. The surplus is expected to adjust downward from 5.686B Australian dollars to 4.450B Australian dollars, exerting pressure on the exchange rate of the national currency. Read more .. read more..
Bank of Canada head Macklem warns consecutive rate hikes possible if oil pric...
Wednesday, May 6,2026,22:35
Bank of Canada Governor Tiff Macklem warned that if high oil prices begin feeding into broader inflation, the central bank may need to deliver consecutive increases to its policy rate. Summary: The Bank of Canada held its policy interest rate at 2.25% at last week's meeting, with Governor Tiff Macklem telling the Senate Standing Committee on Banking, Commerce and the Economy that changes in the rate can be expected to be small if the economy evolves in line with the baseline forecast, per his opening statement Macklem warned that if oil prices continue to rise and remain elevated, the risk of higher energy costs becoming generalised persistent inflation increases, and that scenario could ... .. read more..
Australia Trade Data Due On Thursday
Wednesday, May 6,2026,22:00
Australia will on Thursday release March figures for imports, exports and trade balance, highlighting a modest day for Asia-Pacific economic activity. In February, imports were down 3.2 percent on month and exports rose 4.9 percent for a trade surplus of A$5.686 billion. .. read more..
RBNZ Gov Breman expects higher near term inflation and weak growth
Wednesday, May 6,2026,21:31
RBNZ Governor Breman: Expect New Zealand house prices to remain flat, increase a “little bit” over time Expect somewhat higher near term inflation Expect somewhat weaker growth but we still expect growth this year This article was written by Eamonn Sheridan at investinglive.com. .. read more..
Bessent to raise weak yen with Japanese officials in Tokyo meetings next week
Wednesday, May 6,2026,21:14
U.S. Treasury Secretary Bessent will visit Japan next week for talks covering the weak yen, rare earths and energy procurement, with individual meetings scheduled with the PM, finance minister and Bank of Japan governor, the Nikkei reports. Summary: U.S. Treasury Secretary Scott Bessent is set to travel to Japan next week to discuss the weak yen with Japanese officials, according to the Nikkei The agenda will extend beyond currency issues to cover economic security topics including rare earths and energy procurement, per the Nikkei report Bessent is scheduled to hold individual meetings on Tuesday with Prime Minister Sanae Takaichi, Finance Minister Satsuki Katayama, and Bank of Japan Gov... .. read more..
South Korea’s steps to limit inflation increases paying off — so far
Wednesday, May 6,2026,21:00
Government policies absorb some of energy shock South Korea’s consumer price inflation accelerated to 2.6% year-on-year in April from 2.2% in March, matching market consensus but below our estimate of 2.8%. The downside surprise was mainly due to a larger-than-expected drop in food prices. Tough inflation reached a 21-month high in April, government measures such ... .. read more..
Trump says China’s Xi has been “very respectful” about war in Iran
Wednesday, May 6,2026,21:00
US President Donald Trump said he will address the Iran war with Chinese President Xi Jinping during their summit next week, while seeking to ease concerns about tensions between the two nations over the conflict. Trump told reporters at the White House on Tuesday that the Iran situation will be among the topics discussed when ... .. read more..
Fed’s Bowman says consumer fraud poses growing risk to financial system
Wednesday, May 6,2026,21:00
Federal Reserve Vice Chair for Supervision Michelle Bowman said Tuesday that consumer fraud and scams present increasing risks to the financial system, noting that nearly every fraud involves a bank account or payment tied to one. Bowman said regulators are considering measures to strengthen the fight against consumer fraud as banks make unprecedented investments in ... .. read more..
China Services Growth Beats Estimates
Wednesday, May 6,2026,21:00
The RatingDog China General Services PMI increased to 52.6 in April 2026 from March’s three-month low of 52.1, surpassing market forecasts of 52. New business grew for the fortieth successive month, the second-longest period of continuous expansion in the survey’s history, with domestic demand remaining a key driver. Meanwhile, foreign sales fell for the second ... .. read more..
UK Services Activity Growth Revised Slighty Higher
Wednesday, May 6,2026,21:00
The S&P Global UK Services PMI was revised slightly higher to 52.7 in April 2026 from a flash estimate of 52, up from March’s 11-month low of 50.5. The data signaled a moderate expansion of the service sector, amid reported resilient global demand for technology services. However, new business intakes remained subdued overall amid headwinds ... .. read more..
India Services Growth Revised Higher to 5-Month High
Wednesday, May 6,2026,21:00
The HSBC India Services PMI was revised higher to 58.8 in April 2026 from the preliminary estimate of 57.9 and after March’s 13-month low of 57.5. The latest reading marked the strongest growth since last November, supported by a faster rise in new orders and output. However, foreign demand growth eased to the weakest uptick ... .. read more..
OECD headline inflation rises to 4.0% in March 2026 as energy prices surge
Wednesday, May 6,2026,21:00
Year-on-year inflation in the OECD as measured by the Consumer Price Index (CPI) rose to 4.0% in March 2026 from 3.4% in February, driven by an 8.6 percentage-point (p.p.) increase in energy inflation (Table 1 and Figures 1 and 2). Headline inflation increased in most OECD countries (33 out of 37 with available monthly data), ... .. read more..
Trump hints at Hormuz reopening amid hopes for Iran peace deal
Wednesday, May 6,2026,21:00
President Donald Trump has suggested that the Strait of Hormuz will be “OPEN TO ALL” should Iran agree to U.S. demands, as hopes have grown that a deal to end the Middle East conflict may be edging closer. In a social media post, Trump said that the U.S. assault on Iran, which Washington began with ... .. read more..
Fitch Ratings Updates Sovereign Rating Criteria; No Rating Impact
Wednesday, May 6,2026,21:00
Fitch Ratings has revised its Sovereign Rating Criteria, incorporating some minor changes and additions to its criteria for the rating of sovereign issuers. The application of the updated criteria will not result in any rating changes. The substance of the criteria is unaltered, and we do not consider the revisions material. The changes and additions ... .. read more..
Fed’s Musalem sees inflation risks rising above employment concerns
Wednesday, May 6,2026,21:00
Federal Reserve Bank of St. Louis President Alberto Musalem said Wednesday that inflation risks are increasing relative to employment concerns, while emphasizing substantial uncertainty about the economy’s direction. Speaking at a Mississippi Bankers Association event in Fairhope, Alabama, Musalem noted that inflation remains well above the Fed’s 2% target. “We have risks both on the ... .. read more..
France’s manufacturing bounce may prove short-lived
Wednesday, May 6,2026,21:00
A rebound boosted by inventories and temporary competitiveness gains As expected, French manufacturing output rebounded in March, rising by 1.2% month-on-month after a 0.1% decline in February. Total industrial production was up 1% after -0.9% in February. The increase was visible across all branches of industry. Unsurprisingly, production rose sharply in coking and refining, up ... .. read more..
Fed's Goolsbee warns Iran war turning into an inflationary shock for U.S. eco...
Wednesday, May 6,2026,20:03
Chicago Fed's Goolsbee says the U.S.-Iran war is acting as an inflationary shock, warning prolonged high oil prices risk embedding expectations and would be "extremely problematic" for the central bank. Summary: The U.S.-Iran conflict is increasingly resembling an inflationary shock, with limited impact so far on employment and growth but rising concerns about supply chains and persistent price increases, according to Chicago Fed President Austan Goolsbee Goolsbee said the situation has not yet reached stagflationary territory, meaning a simultaneous blow to jobs and inflation, but warned that the longer the inflationary character persists the more concerned he becomes, per remarks made f... .. read more..
Fed's Goolsbee: Impact of rising productivity on inflation remains active top...
Wednesday, May 6,2026,17:05
Chicago Fed Pres. Goolsbee is speaking and says: Impact of rising productivity on inflation remains active topic of debate. Activities impact on inflation and interest rates could go in either direction. If households anticipate future income, wealth gains from higher productivity, they could produce spending inflation. If people pull forward future expected earnings for spending today, it could easily overheat the economy. If AI is as good as advertised it would be lovely, but the Fed still needs to be on the lookout for overheating. Goolsbee is a voter in 2027. This article was written by Greg Michalowski at investinglive.com. .. read more..
U.S. private employment growth speeds up in April – ADP
Wednesday, May 6,2026,17:00
U.S. private employers added jobs at the fastest pace since the beginning of 2025 in April, as companies navigated a resilient, albeit uncertain, economic backdrop. Private employment grew by 109,000 roles last month, compared to a downwardly revised mark of 61,000 in March. Economists had anticipated a reading of 118,000. The ADP report, which is ... .. read more..
US Economic Sentiment Weakens Further
Wednesday, May 6,2026,17:00
The RealClearMarkets/TIPP Economic Optimism Index eased further to 42.6 in May 2026, the lowest level since June 2024, down from 42.8 in April , though above the expected 42. The index has now remained below the neutral 50 mark for nine consecutive months, indicating sustained pessimism. The Six-Month Economic Outlook, which measures consumers’ views on ... .. read more..
Industrial producer prices up by 3.4% in the euro area and by 3.2% in the EU
Wednesday, May 6,2026,17:00
Overview In March 2026, compared with February 2026, industrial producer prices increased by 3.4% in the euro area and by 3.2% in the EU, according to first estimates from Eurostat, the statistical office of the European Union. In February 2026, industrial producer prices fell by 0.6% in the euro area and by 0.5% in the ... .. read more..
Rachel Reeves is the worst UK chancellor ever – you can feel the proof all ar...
Wednesday, May 6,2026,16:00
OPINION - VIRGINIA BLACKBURN: There's one huge thing missing from this country and we badly need it back. .. read more..
U.S. Crude Oil Inventories Fall Slightly Less Than Expected
Wednesday, May 6,2026,14:37
A report released by the Energy Information Administration on Wednesday showed crude oil inventories in the U.S. decreased by slightly less than expected in the week ended May 1st. .. read more..