The Week Ahead: Key Economic Events to Watch for May 5 – 9, 2025

The upcoming week is packed with high-impact economic events that could steer market sentiment across currencies and equities. From inflation data in Switzerland to the latest US services PMI and Federal Reserve rate decision, investors will have plenty to digest. Labor market figures out of New Zealand, the US, and Canada will also be closely watched for signs of economic momentum—or cracks beneath the surface. Adding to the mix are major earnings releases from Ford, Disney, and Lyft, rounding out what promises to be an eventful and potentially volatile trading week.

High Impact Economic Events

Monday 09:30 am (GMT+3) – Switzerland: CPI m/m (CHF)

Monday 17:00 (GMT+3) – USA: ISM Services PMI (USD)

Wednesday 01:45 am (GMT+3) – New Zealand: Employment Change q/q (NZD)

Wednesday 21:00 (GMT+3) – USA: Federal Funds Rate (USD)

Thursday 14:00 (GMT+3) – UK: Official Bank Rate (GBP)

Thursday 15:30 (GMT+3) – USA: Unemployment Claims (USD)

Friday 17:30 (GMT+3) – Canada: Employment Change (CAD)

Monday, May 5

09:30 am – Switzerland: CPI m/m (CHF)

The Consumer Price Index (CPI) tracks the changes in the prices of goods and services that reflect the spending habits of private households in Switzerland. It shows how much consumers need to adjust their spending to maintain the same level of consumption despite price fluctuations.

Switzerland’s consumer price index held steady in March 2025 at 107.5, showing no change from the previous month, according to the Federal Statistical Office. Annual inflation came in at +0.3%.

Analysts expect a reading at 0.2%.

17:00 – USA: ISM Services PMI (USD)

The ISM Services PMI measures activity in the US service sector for the reporting month. It is derived from a survey of supply executives in the services sector. Readings above 50 can have a positive effect on US dollar quotes.

US services sector activity expanded for the ninth straight month in March, with the ISM Services PMI registering 50.8. While business activity rose, new orders and employment weakened, and tariff-related cost concerns grew.

Analysts expect that the upcoming release will show a decrease to 50.2.

Wednesday, May 7

01:45 am – New Zealand: Employment Change q/q (NZD)

Employment Change tracks how many jobs were added or lost over a given period and is a key signal of consumer spending strength.

Stronger-than-expected figures typically support the NZD, signaling economic growth, while weaker numbers may weigh on the currency.

New Zealand’s employment change for Q1 2025 came in at -0.1%, improving from -0.6% in the previous quarter but falling short of the -0.2% forecast. The data highlights ongoing labor market pressures with possible economic implications ahead.

Economists expect an increase in employment of 0.1%.

21:00 – USA: Federal Funds Rate (USD)

The Federal Reserve adjusts monetary policy by changing its target range for the federal funds rate, which impacts overnight borrowing rates for banks. Lowering the target, or “easing,” reduces interest rates to stimulate the economy during slow growth, low inflation, or high unemployment. Raising the target, or “tightening,” increases rates to cool an overheating economy, high inflation, or low unemployment. These rate changes affect broader financial conditions, influencing household and business spending, and ultimately impacting economic activity, employment, unemployment, and inflation.

In March, the Fed held rates steady at 4.25%–4.50%, citing solid growth and a strong labor market. With inflation still elevated and uncertainty rising, it also announced a slower pace of balance sheet reduction starting in April.

Analysts predict that the Federal Reserve will maintain the current interest rate.

Thursday, May 8

14:00 – UK: Official Bank Rate (GBP)

The Monetary Policy Committee (MPC) sets monetary policy to achieve a 2% inflation target while supporting sustainable economic growth and employment. It adopts a forward-looking, medium-term strategy to ensure inflation remains stable and sustainable.

In March, the Bank of England held interest rates at 4.5%, with one member voting for a cut. While inflation has eased from its peak, it remains above target, and global trade tensions have increased. The MPC signaled a cautious approach, keeping policy restrictive to ensure inflation returns sustainably to 2%.

Economists predict a 25 basis point rate cut.

15:30 – USA: Unemployment Claims (USD)

An initial claim is filed by an unemployed individual seeking eligibility for unemployment insurance after leaving a job. This count serves as a leading economic indicator, reflecting labor market conditions. However, because these are weekly administrative data, they can be volatile and challenging to adjust seasonally.

US jobless claims rose to 241,000 in the week ending April 26, the highest since February, while continuing claims hit 1.92 million—the highest since November 2021—suggesting it’s taking longer for unemployed workers to find jobs.

Analysts expect that unemployment insurance claims will rise to 232,000.

Friday, May 9

17:30 – Canada: Employment Change (CAD)

Change in the number of employed individuals in the previous month. In general, when the actual figure is greater than the forecast, it is positive for the currency.

Canada lost 33,000 jobs in March, its first employment decline since January 2022, led by full-time job losses and weakness in the retail and recreation sectors. The employment rate fell to 60.9%, with notable declines among older and core-aged men.

Economists forecast the creation of 24,500 new jobs.

Company Earnings (May 5 – 9)

Monday, May 5: F (Ford Motor Company)

Wednesday, May 7: DIS (The Walt Disney Company)

Thursday, May 8: LYFT (Lyft Inc.)

Conclusion

In conclusion, this week’s packed economic calendar is likely to keep investors on edge, with major data points across inflation, labor, and monetary policy expected to shape market direction. Central bank decisions from the Fed and Bank of England, along with key employment figures from New Zealand, the US, and Canada, will be closely watched for signs of policy shifts or economic soft spots. Add in notable corporate earnings, and all eyes will be on how markets react to what could be a pivotal week.