On the Macro

It’s a busier week ahead on the economic calendar, with 64 stats in focus in the week ending 21st May. In the week prior, 49 stats had been in focus.

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…

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