Trading Week Ahead: Nvidia’s Earnings
U.S. stocks face renewed pressure as surging bond yields and $110 oil weigh on sentiment. Inflation fears are pushing borrowing costs to multi-month highs, compounded by weak economic data from China. Despite these headwinds, the AI-driven market rally holds strong but faces its ultimate test this week with Nvidia’s highly anticipated earnings.
Brace for this week’s three key economic events:
👉 EUR CPI MoM – 11:00 AM, Wednesday (GMT+2)
The flash estimate for April confirmed annual inflation at 3.0%, driven largely by energy inflation, which jumped by nearly 11%. The final data will be a crucial input for the ECB ahead of its June meeting, where markets are now pricing in rate hikes rather than cuts.
👉 U.S. FOMC Meeting Minutes – 8:00 PM, Wednesday (GMT+2)
The minutes from the Fed’s April meeting will reveal the extent of the FOMC’s division in holding rates at 3.50 to 3.75%. Since April, hotter inflation data have wiped out expectations for rate cuts, and investors will be looking for signs of whether the Fed views inflation as a temporary shock or a structural problem.
👉 U.S. Flash PMI – 3:45 PM, Thursday (GMT+2)
A quick look at the state of the U.S. economy in May forecasts a slight slowdown in manufacturing to 53.6 and stability in services at 51.1. Markets will closely monitor the report’s pricing components, as any sign of accelerating input costs would provide a further argument for a tighter Fed policy.
1:50 AM
JPY
GDP
8:00 AM
GBP
Claimant Count Change
2:30 PM
CAD
CPI
8:00 AM
GBP
CPI
11:00 AM
EUR
CPI
8:00 PM
USD
FOMC Meeting Minutes
10:30 AM
GBP
Flash Manufacturing PMI
10:30 AM
GBP
Flash Services PMI
2:30 PM
USD
Philadelphia Fed Manufacturing Index
3:45 PM
USD
Flash Manufacturing PMI
3:45 PM
USD
Flash Services PMI
8:00 AM
EUR
German GDP
8:00 AM
GBP
Retail Sales
2:30 PM
CAD
Retail Sales
| Date | Time | Instrument | Event |
|---|---|---|---|
| 05/19/26 |
1:50 AM |
JPY
|
GDP |
|
8:00 AM |
GBP
|
Claimant Count Change | |
|
2:30 PM |
CAD
|
CPI | |
| 05/20/26 |
8:00 AM |
GBP
|
CPI |
|
11:00 AM |
EUR
|
CPI | |
|
8:00 PM |
USD
|
FOMC Meeting Minutes | |
| 05/21/26 |
10:30 AM |
GBP
|
Flash Manufacturing PMI |
|
GBP
|
Flash Services PMI | ||
|
2:30 PM |
USD
|
Philadelphia Fed Manufacturing Index | |
|
3:45 PM |
USD
|
Flash Manufacturing PMI | |
|
USD
|
Flash Services PMI | ||
| 05/22/26 |
8:00 AM |
EUR
|
German GDP |
|
GBP
|
Retail Sales | ||
|
2:30 PM |
CAD
|
Retail Sales |
*All times in the table are in CEST
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