OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week’s key economic data and events. Firstly, after a slew of Fed Speak from officials Bowman, Daly, Bostic, Collins, Kashkari, and Barkin last week that erred towards a “higher-for-longer” approach in terms of the direction of the Fed funds rate; for this week, market participants will hear from the helm of the Fed, Chair Powell’s view via his public speeches on Tuesday (14 May).

Secondly, in order to validate the concerns of Fed’s officials fear of sticky inflation trends that still taking form in the US, to next focus will be April’s CPI reading out this Wednesday (15 May) where the rent and services sub components, the main drivers of current state of stubborn inflation will be scrutinized. On the same day, US retail sales for April will be release as well to have a gauge of US consumer spending as consumer confidence has dipped lower in the past month.

Lastly, on Friday (17 May), we will have key China data, retail sales, industrial production, and housing price index for April. Pivotal as it will be monitored to justify the bullish tone see the China proxy Hang Seng stock indices since April.

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