Economic Data Releases for May 30, 2023

The following economic data releases are scheduled for May 30, 2023:

  • South Africa: Manufacturing PMI (May)
  • United Kingdom: BRC Shop Price Index (YoY)
  • Japan: Industrial Production (MoM) (Apr)
  • New Zealand: ANZ Business Confidence (May)
  • Australia: Construction Work Done (QoQ) (Q1)
  • China: Composite PMI (May)
  • Singapore: Bank Lending

South Africa: Manufacturing PMI (May)

The Manufacturing PMI is a leading indicator of economic activity in South Africa. A reading above 50 indicates that the manufacturing sector is expanding, while a reading below 50 indicates that the sector is contracting. The May reading is expected to come in at 52.5, down from 53.1 in April.

United Kingdom: BRC Shop Price Index (YoY)

The BRC Shop Price Index measures the change in prices of goods sold in the UK retail sector. A reading above 0 indicates that prices are rising, while a reading below 0 indicates that prices are falling. The May reading is expected to come in at 8.8%, up from 7.9% in April.

Japan: Industrial Production (MoM) (Apr)

Industrial Production is a measure of the output of the manufacturing sector in Japan. A reading above 0 indicates that production is rising, while a reading below 0 indicates that production is falling. The April reading is expected to come in at 0.5%, down from 1.1% in March.

New Zealand: ANZ Business Confidence (May)

ANZ Business Confidence is a survey of business sentiment in New Zealand. A reading above 50 indicates that businesses are optimistic about the future, while a reading below 50 indicates that businesses are pessimistic about the future. The May reading is expected to come in at -43.4, down from -43.8 in April.

Australia: Construction Work Done (QoQ) (Q1)

Construction Work Done is a measure of the value of construction work completed in Australia. A reading above 0 indicates that construction activity is rising, while a reading below 0 indicates that construction activity is falling. The Q1 reading is expected to come in at 1.5%, up from -0.4% in Q4 2022.

China: Composite PMI (May)

The Composite PMI is a leading indicator of economic activity in China. A reading above 50 indicates that the economy is expanding, while a reading below 50 indicates that the economy is contracting. The May reading is expected to come in at 54.4, down from 55.1 in April.

Singapore: Bank Lending

Bank Lending is a measure of the amount of money lent by banks in Singapore. A reading above 0 indicates that lending is rising, while a reading below 0 indicates that lending is falling. The May reading is expected to come in at 805.1B, up from 796.9B in April.

Overall, the economic data releases scheduled for May 29, 2023, are mixed. The South African Manufacturing PMI is expected to decline, while the UK Shop Price Index is expected to rise. The Japanese Industrial Production is expected to decline, while the New Zealand ANZ Business Confidence is expected to decline. The Australian Construction Work Done is expected to rise, while the Chinese Composite PMI is expected to decline. The Singapore Bank Lending is expected to rise.

Possible Scenario with Major Pairs

The following are some possible scenarios for the major currency pairs based on the economic data releases scheduled for May 30, 2023:

  • EUR/USD: The EUR/USD pair could decline if the South African Manufacturing PMI declines and the UK Shop Price Index rises.
  • GBP/USD: The GBP/USD pair could rise if the UK Shop Price Index rises and the Japanese Industrial Production declines.
  • USD/JPY: The USD/JPY pair could decline if the Japanese Industrial Production declines and the Chinese Composite PMI declines.
  • AUD/USD: The AUD/USD pair could rise if the Australian Construction Work Done rises and the Singapore Bank Lending rises.

It is important to note that these are just possible scenarios and the actual direction of the currency pairs will depend on a number of factors.