Next week seems to be marked by the macroeconomic outlook, with US economic data being the main risks for the calendar. Inflation, growth, jobless claims and housing numbers arrive ahead of the open, giving markets an idea of whether the Federal Reserve has room to cut rates.
Prediction markets and CME’s FedWatch tool are currently pointing to rates remaining unchanged at the June meeting.
The data is known in the midst of the ongoing war in the Middle East, which keeps oil prices and the risk of inflation in the spotlight. Any rise in energy costs could make softer inflation harder to sustain and weigh on risky assets.
What to watch
(All times ET)
- Crypto
- May 26-June 1: Kevin Warsh officially begins his first week as chairman of the Federal Reserve following his confirmation.
- Macro
- May 26, 08:00 am: US S&P/Case-Shiller House Prices YoY for March Estimated 1.1% (Previous 0.9%)
- May 26, 08:00 am: US House Price Index YoY for March estimated at 1.8% (previously 1.7%)
- May 26, 09:00 am: US CB Consumer Confidence for May estimated 92 (previous 92.8)
- May 26, 08:30 pm: Australian Consumer Price Index year-on-year for April estimated 4.4% (previous 4.6%)
- May 27, 08:00 pm: Bank of Korea interest rate decision (previously 2.5%)
- May 28, 04:00 am: Eurozone Economic Sentiment for May Estimated 92 (Previous 93)
- May 28, 07:30 am: April US PCE Price Index YoY (up from 3.5%); Core PCE (previously 3.2%)
- May 28, 7:30 am: US initial unemployment claims for the period ending May 23, approximately 212,000 (was 209,000)
- May 28, 08:00 am: South African Reserve Bank interest rate decision estimated at 7.0% (previously 6.75%)
- May 28, 09:00 am: US new home sales for April estimated at 0.67 million (was 0.682 million)
- May 28, 03:30 pm: US Federal Reserve balance sheet for the period ending May 27 (previously: $6.713 trillion)
- May 28, 06:30 pm: Japan-Tokyo Consumer Price Index, May prel y-o-y (previously 1.5%)
- May 29, 07:30 am: Canada’s annualized GDP growth rate for the first quarter (previously -0.6%); QoQ (previous -0.2%)
- May 29, 08:45 am: US Chicago PMI for May estimated at 49.5 (previously 49.2)
- May 30, 8:30 p.m.: China NBS Manufacturing PMI for May estimated at 50.5 (previously 50.3)
- Earnings
- Governance votes and calls
- Compound DAO is voting on a proposal to update Compound III supply limits for USDC, USDT, and WETH on Optimism, Polygon, and Unichain. Voting ends on May 25.
- Aave DAO is voting on a proposal to establish a 3 of 4 rewards trading multisig to manage third-party incentive funding for growth campaigns. Voting ends on May 25.
- Instadapp DAO is voting on a proposal to rebalance wstUSR vaults, withdraw 750,000 FLUID to fund rewards, set up PST release limits, and consolidate InstaConnectorsV2 administrative controls into Team Multisig. Voting ends on May 26.
- Bancor DAO is voting on a proposal to increase the MaxSaleAmount vortex parameter from 100 to 100,000 for the TAC and IOTA EVM blockchains. Voting ends on May 27.
- Arbitrum DAO is voting on a modified proposal to transfer 30,765.66 frozen ETH, linked to the rsETH incident, to a wallet controlled by Aave LLC. Voting ends on May 29.
- Unlock DAO is voting on a proposal to process the May ongoing payment list, compensating contributors David Moderator, Ceci Sakura, and Trigs for their roles. Voting ends May 30.
- Uniswap DAO is voting on proposals to expand protocol fee infrastructure to BNB Chain, Polygon, and Celo, and withdraw 12.5 million UNI delegated from the franchise system to the Governance Timelock. Voting ends May 30.
- Unlock
- May 26: Plasma (XPL) will unlock 3.38% of its circulating supply worth $7.39 million.
- May 26 – Huma Finance (HUMA) to unlock 20.04% of its circulating supply worth $11.76 million
- May 29 – Grass (GRASS) will unlock 3.55% of its circulating supply worth $11.29 million.
- May 30 – Falcon Finance (FF) will unlock 4.06% of its circulating supply worth $8.26 million.
- June 1 – EigenCloud (EIGEN) will unlock 4.99% of its circulating supply worth $8.48 million.
- Token releases
