Everyone is gearing up for the first-quarter GDP data, but we still have to wait a week for them. Well, at least we’ll have some time to prepare, because what we have directly ahead of us is not exactly an edge-of-your-seat week. However, we might want to keep an eye on inflation figures in Hungary and globally, as well as a rate decision by the Bank of England.
The week is off to a slow start. On Monday, we have only German factory orders in the release calendar, but meaningful market impact is unlikely. On Tuesday, though, Hungary’s Central Statistical Office (KSH) is to publish industrial production data for March, and the government will release information about the status of the budget. The new Parliament will also have its first sitting, which should be watched closely as there might be new information shared about the plans of Prime Minister Viktor Orbán’s new cabinet. Important data in Germany are also in the pipeline for the day.
On Wednesday, we’ll have the latest CPI data for April in Hungary that could impact the forint exchange rate, as well. Analysts expect inflation to be around 2.3-2.4% yr/yr, and we should keep an eye on markets if the actual figure is significantly different.
The National Bank of Hungary (MNB) will publish its regular government security statistics on Thursday morning, while the stats office is to release foreign trade figures for March. Shortly before noon, the Government Debt Management Agency (ÁKK) is to hold a bond auction, and CPI data are to be published in China and the United States, while the Bank of England is scheduled to hold a policy meeting that could influence the GBP.
On Friday morning, the KSH is going to publish construction sector stats for March, while no key release can be expected from elsewhere.
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