Jeremy Oles
Share it!
| Time(GMT+0/UTC+0) | State | Importance | Event | Forecast | Previous |
| 00:00 |  | 2 points | FOMC Member Williams Speaks | ———- | ———- |
| 01:30 |  | 2 points | Construction Work Done (QoQ) (Q1) | 0.5% | 0.5% |
| 02:00 | | 2 points | RBNZ Interest Rate Decision | 3.25% | 3.50% |
| 02:00 | | 2 points | RBNZ Monetary Policy Statement | ———- | ———- |
| 02:00 | | 2 points | RBNZ Rate Statement | ———- | ———- |
| 02:10 | | 2 points | Fed Waller Speaks | ———- | ———- |
| 03:00 | | 2 points | RBNZ Press Conference | ———- | ———- |
| 08:00 | | 2 points | FOMC Member Kashkari Speaks | ———- | ———- |
| 10:00 | | 2 points | OPEC Meeting | ———- | ———- |
| 13:00 | | 2 points | FOMC Member Williams Speaks | ———- | ———- |
| 16:00 | | 2 points | 5-Year Note Auction | ———- | 3.995% |
| 17:00 | | 2 points | RBNZ Press Conference | ———- | ———- |
| 18:00 | | 2 points | FOMC Meeting Minutes | ———- | ———- |
| 20:30 | | 2 points | API Weekly Crude Oil Stock | ———- | 2.499M |
Summary of Upcoming Economic Events on May 28, 2025
New Zealand
1. Construction Work Done (QoQ) (Q1) – 01:30 UTC
- Forecast: 0.5% | Previous: 0.5%
- Market Impact:
- Stable growth suggests consistent construction activity; deviation may affect GDP projections and NZD modestly.
2. RBNZ Interest Rate Decision – 02:00 UTC
- Forecast: 3.25% | Previous: 3.50%
- Market Impact:
- A rate cut would signal easing in monetary policy, weakening NZD and supporting equity markets.
- A surprise hold or hike would likely strengthen NZD sharply.
3. RBNZ Monetary Policy Statement & Rate Statement – 02:00 UTC
- Market Impact:
- Tone of the statement critical. A dovish outlook may suggest further rate cuts; a neutral/hawkish stance may reassure investors.
4. RBNZ Press Conferences – 03:00 UTC & 17:00 UTC
- Market Impact:
- May clarify RBNZ’s policy intentions. Forward guidance on growth, inflation, and housing will be key to FX and bond market reactions.
United States
5. FOMC Member Williams Speaks – 00:00 & 13:00 UTC
- Market Impact:
- As NY Fed President, his tone is influential. Dovish remarks could lift equities and weaken USD; hawkish tone would support yields.
6. Fed Governor Waller Speaks – 02:10 UTC
- Market Impact:
- Comments will shape expectations for upcoming FOMC decisions. Emphasis on inflation or policy lag would sway bond and FX markets.
7. FOMC Member Kashkari Speaks – 08:00 UTC
- Market Impact:
- Remarks on labor market or inflation could move short-term yields and the USD.
8. OPEC Meeting – 10:00 UTC
- Market Impact:
- Key oil market event. Announcements on output levels can significantly move oil prices, impacting energy stocks, inflation expectations, and commodity currencies.
9. 5-Year Note Auction – 16:00 UTC
- Previous Yield: 3.995%
- Market Impact:
- Strong demand → lower yields, supportive of risk sentiment.
- Weak demand → rising yields, possible downward pressure on stocks.
10. FOMC Meeting Minutes – 18:00 UTC
- Market Impact:
- Offers deep insight into the Fed’s policy thinking.
- Hawkish signals may boost USD and Treasury yields; dovish signals could support equities and weaken the dollar.
11. API Weekly Crude Oil Stock – 20:30 UTC
- Previous: +2.499M
- Market Impact:
- Build in inventories may pressure oil prices; drawdown may support prices and inflation expectations.
Market Impact Analysis
- New Zealand will be in focus early, with markets watching for monetary easing signals from RBNZ. A rate cut with dovish commentary could weaken NZD and impact regional bonds.
- U.S. markets will respond to a dense lineup of FOMC speakers and the release of Fed minutes, which will shape rate expectations heading into June.
- Oil markets face potential volatility from the OPEC meeting and API inventory data.
- The 5-Year Treasury auction and Fed commentary will be closely linked to moves in short-term interest rate expectations.
Overall Impact Score: 8/10
Key Focus:
The day is shaped by RBNZ’s policy decision, extensive Fed commentary, and OPEC’s strategic direction on oil supply. These elements could jointly drive significant market moves in FX, rates, commodities, and equities, especially if guidance deviates from current expectations. Volatility is expected to be elevated across all asset classes.
