Upcoming economic events 8 May 2025

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
03:35		2 points	10-Year JGB Auction	———-	1.405%
12:30		2 points	Continuing Jobless Claims	1,890K	1,916K
12:30		3 points	Initial Jobless Claims	231K	241K
12:30		2 points	Nonfarm Productivity (QoQ) (Q1)	-0.4%	1.5%
12:30		2 points	Unit Labor Costs (QoQ) (Q1)	5.3%	2.2%
13:00		2 points	ECB Supervisory Board Member Tuominen Speaks	———-	———-
17:00		3 points	30-Year Bond Auction	———-	4.813%
17:00		2 points	Atlanta Fed GDPNow (Q2)	2.2%	2.2%
20:30		2 points	Fed’s Balance Sheet	———-	6,709B
23:30		2 points	Household Spending (YoY) (Mar)	0.2%	-0.5%
23:30		2 points	Household Spending (MoM) (Mar)	-0.5%	3.5%

Summary of Upcoming Economic Events on May 8, 2025

Japan (🇯🇵)

1. 10-Year JGB Auction – 03:35 UTC
   • Previous Yield: 1.405%
   • Market Impact:
     • Higher yields may support JPY, as they indicate rising inflation or reduced BoJ support.
2. Household Spending (Mar) – 23:30 UTC
   • YoY Forecast: 0.2% | Previous: -0.5%
   • MoM Forecast: -0.5% | Previous: 3.5%
   • Market Impact:
     • Weak figures may undermine the JPY, signaling softer consumer demand.

United States (🇺🇸)

3. Continuing Jobless Claims – 12:30 UTC
   • Forecast: 1,890K | Previous: 1,916K
   • Market Impact:
     • Falling claims indicate a stronger labor market, bullish for USD and equity sentiment.
4. Initial Jobless Claims – 12:30 UTC
   • Forecast: 231K | Previous: 241K
   • Market Impact:
     • A drop reinforces a tight labor market, which may delay Fed easing expectations.
5. Nonfarm Productivity (Q1) – 12:30 UTC
   • Forecast: -0.4% | Previous: 1.5%
   • Market Impact:
     • A decline may raise unit labor costs, fueling wage-driven inflation concerns.
6. Unit Labor Costs (Q1) – 12:30 UTC
   • Forecast: 5.3% | Previous: 2.2%
   • Market Impact:
     • Strong rise suggests wage inflation, potentially hawkish for Fed policy.
7. 30-Year Bond Auction – 17:00 UTC
   • Previous Yield: 4.813%
   • Market Impact:
     • Weak demand or rising yields could pressure long-duration assets.
8. Atlanta Fed GDPNow (Q2) – 17:00 UTC
   • Forecast: 2.2% | Previous: 2.2%
   • Market Impact:
     • Confirms real-time economic growth pace, may guide expectations for Fed tightening.
9. Fed’s Balance Sheet – 20:30 UTC
   • Previous: $6,709B
   • Market Impact:
     • Signals direction of liquidity trends; shrinking supports tighter financial conditions.

Eurozone (🇪🇺)

10. ECB Supervisory Board Member Tuominen Speaks – 13:00 UTC

• Market Impact:
  • Comments on banking or credit conditions may shift EUR sentiment slightly.

Market Impact Analysis

• USD drivers dominate: Labor, productivity, and cost data are crucial to rate policy forecasts.
• JPY may soften on weak spending but auction demand could offer stability.
• Bond market focus will be on 30-year auction and balance sheet update.

Overall Impact Score: 7/10

Key Focus: U.S. labor data, productivity, and wage inflation pressures.