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💥 KEY EVENTS OF THIS WEEK: Monday, May 11: 🇺🇸 The Trump administration will begin reimbursing tariffs amounting to $166 billion, declared illegal, in accordance with a court ruling 🇨🇳 China — CPI inflation (Apr) — 04:30 Moscow time 🇺🇸 USA — Existing Home Sales (Apr) — 17:00 Moscow time Tuesday, May 12: 🇩🇪 Germany — CPI inflation (Apr) — 09:00 Moscow time 🇨🇭 Switzerland — PPI inflation (Apr) — 09:30 Moscow time 🇩🇪 Germany — ZEW Economic Sentiment (May) — 12:00 Moscow time 🇪🇺 Eurozone — ZEW Economic Sentiment (May) — 12:00 Moscow time 🇧🇷 Brazil — CPI inflation (Apr) — 16:00 Moscow time 🇺🇸 USA — ADP Employment (week) — 15:15 Moscow time 🇺🇸 USA — CPI inflation (Apr) — 15:30 Moscow time 🇺🇸 WASDE report — 19:00 Moscow time 🛢 US Department of Energy short-term oil market forecasts — 19:00 Moscow time 🇺🇸 USA — Federal budget (Apr) — 21:00 Moscow time 🛢 US oil — API inventories — 23:30 Moscow time Wednesday, May 13: 🇪🇺 Eurozone — GDP (Q1 2026 — preliminary) — 12:00 Moscow time 🛢 IEA monthly oil market report — 12:00 Moscow time 🛢 OPEC monthly oil market report — 14:00 Moscow time 🇺🇸 USA — PPI inflation (Apr) — 15:30 Moscow time 🛢 US oil — EIA inventories — 17:30 Moscow time Thursday, May 14: 🇺🇸🇨🇳 Trump in China — Day 1 🇨🇭 Switzerland — No trading 🇬🇧 United Kingdom — GDP (Q1 2026 — preliminary) — 09:00 Moscow time 🇪🇺 ECB President Lagarde — 12:15 Moscow time 🇺🇸 USA — Initial Jobless Claims — 15:30 Moscow time 🇷🇺 Russia — Trade balance (March) — 16:00 Moscow time 🛢 US natural gas — EIA inventories — 17:30 Moscow time Friday, May 15: 🇺🇸🇨🇳 Trump in China — Day 2 🇺🇸 Jerome Powell’s term as Fed Chair expires 🇯🇵 Japan — PPI inflation (Apr) — 02:50 Moscow time 🇺🇸 USA — NY Empire State Manufacturing Index (May) — 15:30 Moscow time 🇺🇸 USA — Industrial production (Apr) — 16:15 Moscow time 🇷🇺 Russia — CPI inflation — 19:00 Moscow time