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Saturday, May 18

18th May - Weekly Previews #4092

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World Economy WeeklyBB
Questions over the global rebound mount amid trade clash * Search for new central banks heats up from Frankfurt to Ottawa

Take FiveReuters
Sino-U.S. trade war * Trade blips on Fed’s radar * Eurosceptics at the gates * Let’s talk shops * Watch your PMIs

Import tariffs have a negative impact on the targeted country. Retaliation will in turn have negative consequences for the country which started the tariff hikes * Even in the absence of retaliation, there will be negative consequences

Week in Focus – Ransquawk

Global Week AheadScotiabank
US: Powell speaks, FOMC minutes * Europe: PMIs, European parliament elections

Week AheadNordea
Trump has effectively killed the Asian green shoots narrative, but will he kill Europe with auto tariffs this weekend as well? Meanwhile semiconductors paint an extremely gloomy earnings picture, as Matteo Salvini is gearing up for EP elections.

Weekly FocusDanske Bank
PMIs from Europe and US * US-China trade talks restarting? * EU elections

Key events in developed markets next week ING
The rise of US-China trade tensions will be the key theme next week. In the near-term, this is likely to dampen both sentiment and activity, and we may see this already reflected in the German IFO survey. Trade aside, the focus will be on the European Parliament elections

Macro WeeklyABN AMRO
Manufacturing remains in the doldrums * Disappointing Chinese April data after strong March *Also a range of positives to note, but trade conflict poses risk

Key events in EMEA and Latam next week ING
Data from Poland next week should show a rebound in retail sales and wage growth, as well as signs of resilience in industry, signalling the economy is in no danger of an imminent slowdown

Asia Week AheadING
Australia goes to the polls over the weekend, while an end to long-standing political uncertainty in India, Indonesia, and Thailand finally seems around the corner. GDP, manufacturing, and inflation data dominate the economic space

China WeeklyDanske Bank
China has started to beat the nationalist drum and shows no signs of giving in to US demands of changing its laws as part of a trade deal * Trump has issued an executive order, banning Huawei and ZTE in the US * Xi warns that aim to remould other civilisations would be 'a stupid idea and a disastrous act' * More bad data in April. Recovery is postponed and more stimulus is on the way * CNY keeps weakening, more to come.

Weekly Market CommentMarc Chandler

FX WeeklyNordea

We still consider the spill-overs from the trade war “muted”, but in so far markets are to be trusted the green shoots narrative is over and done with for now. In Scandis, we consider the price-action in NOK/SEK constructive for a further move lower.

Week aheadFT

European Parliament elections, Japan GDP, M&S results