Publication date: May 23, 2025

The week ahead: inflation figures for Germany and the US

In Money Care's weekend report, we present you with an overview of the (macroeconomic) events that could cause movement in the stock markets.

Brief review of last week:

Trade War:

This continues to hang over the markets as a major item. Although the May 12 tariff cuts provide some relief, tariffs remain significantly higher than before, and many existing levies remain in place. Moreover, the agreement is temporary and subject to further negotiations, so uncertainty in the market persists.

The economic impact of the trade war continues to be felt. In the U.S., farmers and small businesses continue to experience financial strain. The agricultural sector remains vulnerable due to previous losses in the Chinese market. In addition, U.S. retailers are struggling with increased costs due to still-high tariffs, leading to higher consumer prices and potential inflation.

In short, while the temporary trade truce between the U.S. and China provides some relief, underlying tensions and economic uncertainties remain. The coming weeks will be crucial for further negotiations and determining the future direction of trade relations.

Upcoming week:

On Monday, US stock markets are closed due to Memorial Day. We look forward to the inflation figures from Germany and the US that will be published on Friday. In the US, the Core Personal Consumption Expenditures (Core PCE) for April will be published. This figure shows the change in the cost of goods and services purchased by consumers. It excludes food and energy. The Core PCE is an important measure of purchasing behavior and inflation in the US.

Economic Calendar  Week 22:

Here is the most important economic data for the coming week.

Monday, May 26, 2025:

• United States:
  
  Stock markets closed due to Memorial Day
  
  

• Europe:
  
  
  • 16.30 Speech by President ECB
    
    

Tuesday, May 27, 2025:

• United States:
  
  
  • 16.00 Consumer Confidence May

Wednesday, May 28, 2025:

• United States:
  
  
  • 20.00 FOMC minutes
    
    

Thursday, May 29, 2025:

• United States:
  
  
  • 14.30 initial applications for unemployment benefits
  • 14.30 GDP first quarter 2025expected: - 0,3%
    
    

Friday, May30, 2025:

• United States:
  
  
  • 14.30 Core PCE Price Index April and annual

• Europe:
  
  
  • 14.00 German Consumer Price Index May

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