Summary of the most interesting economic events from the trading week of May 23 - 29, 2022

Welcome to our regular Monday summary of economic events worth pondering.

RBNZ confirmed market expectations!


Last week the Eurozone offered us only the latest PMI data, which came in a bit worse than expected:

  • PMI (manufacturing) - current: 55.4 / previous: 55.5
  • PMI (composite) - current: 54.9 / previous: 55.8
  • PMI (services) - current: 56.3 / previous: 57.7


The UK also offered us the latest Purchasing Managers' Index (PMI) figures last week. And in a very similar vein:

  • PMI (manufacturing) - current: 54.6 / previous: 55.8
  • PMI (composite) - current: 51.8 / previous: 58.2
  • PMI (services) - current: 51.8 / previous: 58.9


On Wednesday, the minutes of the last Fed meeting, which took place on 3. and 4 May. The minutes show that a majority of Fed members judged that another 50 basis point rate hike was likely to be appropriate at the next few meetings.

And what's in store for the current trading week?

The current trading week will bring us plenty of interesting events and data to watch.

The week will start with a special European Council meeting to discuss the evolving situation in Ukraine, defence, energy and security. The week will also see data coming out of the Eurozone on the Consumer Price Index, unemployment and retail sales.


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