Key Economic Events for the Week Ahead: from  May 18th to 22nd

Based on the current economic data the most probable scenario for EURUSD revolves around continued consolidation with a moderate bearish bias as the ECB nears its target while the Fed remains restricted by resilient US data. So most likely EURUSD will keep bouncing around the $1.16 to $1.18 range for the next few weeks.

Even though the Eurozone economy is barely growing - GDP annual growth rate is 0.8%, inflation jumped to 3% in April, meaning ECB can't just cut interest rates. Inflation could probably increase even more in coming months because of a war and consequent higher oil prices.

2026-05-19 JPY Japan Gross Domestic Product (GDP) q/q

2026-05-20 EUR European Union Consumer Price Index (CPI) y/y

2026-05-20 USD EIA United States Crude Oil Stocks Change

2026-05-21 USD Federal Reserve Bank (Fed) of Philadelphia Manufacturing Index

2026-05-21 USD Initial Jobless Claims

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