Weekly Outlook: 2017, May 14 - May 21

The second week of May saw the dollar gaining ground against many currencies despite a political controversy. A mix of events awaits us now: GDP from Japan, jobs from Australia, and housing data from the US.

1. Chinese Industrial Production: Monday, 2:00. After a surprising rise of 7.6% last time, the figure for April could be weaker: 7% is expected.
2. Euro-zone GDP: Tuesday, 9:00. No change is expected.
3. US housing data: Tuesday, 12:30. Building permits are projected to remain at 1.27 million and housing starts to rise to 1.27 million.
4. UK jobs report: Wednesday, 8:30. Wages are predicted to advance to 2.4% y/y and the unemployment rate is likely to stay at 4.7%.
5. Oil inventories: Wednesday, 14:30.
6. Japanese GDP: Wednesday, 23:50. The economy of the third-largest global economy probably expanded also in early 2017: +0.4% is forecast.
7. Australian jobs report: Thursday, 1:30. A modest gain of 5.2K is estimated and the unmeployment rate will likely stay at 5.9%.
8. US jobless claims: Thursday, 12:30. A small rise from 236K to 240K is expected.

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