Weekly News 20.05–24.05.2019

Introducing the most complete review of the upcoming week from analysts Olymp Trade

Important indicators come out in Japan, Germany and the US this week. Venezuelan opposition is making more attempts to overthrow Nicolas Maduro. The US shipments to china are at risk. The Trumps are to challenge the Democrats’ attempts to get the family’s tax returns.


May 20. GDP in Japan. The situation in Venezuela

Japan will release data on Q1 2019 GDP on May 19, at 23:50 GMT. Experts expect a 0.4% increase. This matches the final data: the world economy was strong in the first quarter.

Carlos Vecchio, the representative of the Venezuelan opposition, is to meet the members of the US Southern Command. Perhaps after this meeting, the opposition, led by Juan Guaido, will resume attempts to overthrow Maduro’s regime.

The failure of the coup in April hit the image of Guaido. However, the West continues to support him. Meanwhile, Venezuela stopped shipping its oil to the market two weeks ago, which prevented the black gold prices from the collapse.


May 21. The RBA’s monetary policy. Chinese goods in the US

The minutes of the monetary policy committee of the Reserve Bank of Australia will be published at 01:30 GMT. At the meeting held on May 7, the interest rate was kept at 1.5%.

The document is likely to reflect the concerns of the Bank’s Governing Board regarding the global economic situation.

An oil tanker from the United States must enter the Chinese port of Qingdao. It went to sea before the escalation of the trade dispute between the world’s two largest economies. A cargo ship with soybeans is also reported to be in a similar situation.

China may refuse to supply American oil and soybeans in the context of trade conflict. This will complicate the situation in the global economy.


May 22. FOMC minutes. The Trumps’ finances

The Federal Open Market Operations Committee (FOMC) releases its meeting minutes at 18:00 GMT. Investors will be waiting for positive hints at the future weakening of the Fed rate.

Two committees of the US House of Representatives, controlled by the Democrats, issued subpoenas to Deutsche Bank AG and Capital One Financial Corp. for information on President Trump’s finances. A hearing on the Trump’s suit challenging the legitimacy of this requirement is to take place on May 22.

The failure of Robert Mueller’s investigation made the Democrats to resort to a new strategy of putting Donald Trump under pressure. The opposing politicians hope to find “dirty” traces in his family’s cash transactions.


May 23. PMI in Germany. The retraining of Boeing 737 MAX 8 pilots

The German Manufacturing PMI, which comes out at 07:30 GMT, is going to be an important news of the day.

The main European economy has recently demonstrated negative dynamics. However, members of the ECB’s Board of Governors argue that it is happening fully in line with the outlooks.

The US Federal Aviation Administration will meet the representatives of over 50 foreign companies to discuss plans for retraining the Boeing 737 MAX 8 pilots and updating its software.

The investors’ frustration is confirmed by the dynamics of Boeing shares. The quotes fell by 23% in a bit more than 2 months.


May 24. Core Durable Goods Orders

At 12:30 GMT the market participants will focus on the US Core Durable Goods Orders. The April reading is unlikely to make the investors’ day due to a decline in manufacturing in the same period of time.

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