Economic Calendar: May 15 – May 19

Monday May 15

Japan machine tool orders

Euro zone industrial production

(8:15 a.m. ET) Canadian housing starts for April. The Street is projecting an annualized rate increase of 4 per cent.

(8:30 a.m. ET) Canadian wholesale trade for March. Estimate is a decline of 0.4 per cent from February.

(8:30 a.m. ET) U.S. Empire State Manufacturing Survey for May.

(9 a.m. ET) Canadian existing home sales and average prices for April. Estimates are year-over-year declines of 18.0 per cent and 3.5 per cent, respectively.

(9 a.m. ET) Canada’s MLS home price index for April. Estimate is a decline of 12.0 per cent year-over-year.

(10:30 a.m. ET) Bank of Canada’s Financial Systems Survey for Spring 2023.

Earnings include: Africa Oil Corp.; Centerra Gold Inc.; Constellation Software Inc.; Headwater Exploration Inc.; K92 Mining Inc.; Premium Brands Holdings Corp.; Seabridge Gold Inc.

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Tuesday May 16

China industrial production, retail sales and fixed asset investment

Euro zone GDP and trade deficit

(8:30 a.m. ET) Canadian CPI for April. The Street is projecting an increase of 0.5 per cent from March and up 4.2 per cent year-over-year.

(8:30 a.m. ET) Canadian manufacturing sales and new orders for March. Estimates are month-over-month increases of 0.5 per cent and 0.6 per cent, respectively.

(8:30 a.m. ET) U.S. retail sales for April. Consensus is an increase of 0.8 per cent from March.

(9:15 a.m. ET) U.S. industrial production for April. Consensus is flat month-over-month with capacity utilization declining 0.1 per cent to 79.7 per cent.

(10 a.m. ET) U.S. NAHB Housing Market Index for May.

(10 a.m. ET) U.S. business inventories for March.

Earnings include: Baidu Inc.; Dream Unlimited Corp.; Home Depot Inc.; Lithium Americas Corp.; Park Lawn Corp.

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Wednesday May 17

Japan GDP and industrial production

Euro zone CPI

(8:30 a.m. ET) Canadian construction investment for March.

(8:30 a.m. ET) Canada’s international securities transactions for March.

(8:30 a.m. ET) U.S. housing starts (and revisions) for April. The Street is expecting an annualized rate decline of 1.4 per cent.

(8:30 a.m. ET) U.S. building permits (and revisions) for April. Consensus is flat.

Also: Canadian and U.S. new motor vehicle sales for March.

Earnings include: Cisco Systems Inc.; Cresco Labs Inc.; Macy’s Inc.; Target Corp.; TJX Companies Inc.

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Thursday May 18

Japan trade deficit

(8:30 a.m. ET) Canada’s new housing price index for April. Estimate is flat month-over-month and down 0.1 per cent year-over-year.

(8:30 a.m. ET) U.S. initial jobless claims for week of May 13. Estimate is 250,000, down 14,000 from the previous week.

(8:30 a.m. ET) U.S. Philadelphia Fed Index for May.

(10 a.m. ET) U.S. existing home sales for April. Consensus is an annualized rate decline of 3.3 per cent.

(10 a.m. ET) U.S. leading indicator for April.

(11 a.m. ET) Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers hold a press conference on the Financial Systems Review.

Earnings include: Alibaba ADR; Applied Materials Inc.; CAE Inc.; Canada Goose Holdings Inc.; Lightspeed Commerce Inc.; Walmart Inc.

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Friday May 19

Japan CPI

Germany PPI

(8:30 a.m. ET) Canadian retail sales for March. Consensus is a rise of 1.4 per cent month-over-month.

(8:30 a.m. ET) Canadian household and mortgage credit for March.

(10 a.m. ET) U.S. quarterly services survey for Q1.

(11 a.m. ET) U.S. Fed Chair Jerome Powell joins a panel on “Perspectives on Monetary Policy” in Washington.

Also: G7 summit in Hiroshima begins (through Sunday).

Earnings include: Deere & Co.