The Week Ahead: Key Economic Events to Watch for May 4 – 8, 2026

This week’s economic calendar features several high-impact events that could drive volatility across major currencies, including the AUD, USD, NZD, and CAD. Markets will closely watch central bank guidance from Australia, key services activity data from the US, and labor market updates from New Zealand, Canada, and the United States. Alongside these macro releases, earnings from major companies such as Pfizer, Disney, and McDonald’s may also attract investor attention.

High Impact Economic Events

Tuesday 07:30 am (GMT+3) – Australia: RBA Rate Statement (AUD)
Tuesday 17:00 (GMT3) – USA: ISM Services PMI (USD)
Wednesday 01:45 am (GMT+3) – New Zealand: Employment Change q/q (NZD)
Friday 15:30 (GMT+3) – Canada: Employment Change (CAD)
Friday 15:30 (GMT+3) – USA: Non-Farm Employment Change (USD)

Tuesday, May 5

07:30 am – Australia: RBA Rate Statement (AUD)

The RBA Interest Rate Decision is one of the key instruments of the national monetary and credit policy of the Reserve Bank of Australia.
A higher interest rate leads to the appreciation of the Australian dollar.
On March 17, the Board raised the cash rate by 25 basis points to 4.10%, citing renewed inflation pressures, stronger demand, tight labor conditions, and higher fuel prices linked to Middle East tensions. It warned inflation could stay above target for longer amid uncertainty around growth, energy prices, and policy settings.
Economists expect the RBA to raise interest rates by 25 basis points at its next meeting.

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.
The ISM Services PMI showed the US services sector expanded for a 21st straight month in March, though growth slowed to 54% from 56.1%. New orders remained strong, but employment contracted, while prices surged due to higher fuel costs and Middle East-related supply disruptions.
Analysts expect the reading to indicate a slower pace of growth.

Wednesday, May 6

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

In New Zealand, employment change measures how the number of employed people shifts from one quarter to the next. It is tracked through the Quarterly Employment Survey (QES), which collects data on jobs, wages, and paid working hours across economically significant businesses. The QES is an important tool for assessing New Zealand’s labor market, as it offers a timely snapshot of employment trends and broader economic conditions.
New Zealand’s unemployment rate edged up to 5.4% in the December 2025 quarter, while the employment rate rose slightly to 66.7%, and underutilization stayed at 13.0%. Annual wage growth remained modest, with salary and wage rates up 2.0%.
Economists expect employment to increase by 0.3%.

Friday, May 8

15:30 – 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.
In March, Canada’s labor market was largely steady, with employment little changed at +14,000 and unemployment unchanged at 6.7%. The employment rate held at 60.6%, while average hourly wages rose 4.7% year over year.
Economists expect employment in Canada to increase by 5,100.

15:30 – USA: Non-Farm Employment Change (USD)

The Nonfarm Payrolls report reveals the number of new jobs created during the given month in all non-agricultural sectors of the US.
Growth in the indicator may have a positive effect on dollar quotes.
In March, US nonfarm payrolls rose by 178,000, while the unemployment rate was little changed at 4.3%. Job gains were led by health care, construction, and transportation and warehousing, while federal government employment continued to decline.
Economists expect the US Nonfarm Payrolls to rise by 60,000.

Company Earnings (May 4 – 8)

Tuesday, May 5: PFE (Pfizer Inc.)
Wednesday, May 6: DIS (The Walt Disney Company)
Thursday, May 7: MCD (McDonald’s Corporation)

Conclusion

Overall, the week ahead could bring notable market movement as traders assess central bank signals, services activity, and key labor market data. Any surprise in the RBA decision, US PMI, or employment figures from New Zealand, Canada, and the US may influence expectations for future monetary policy and drive volatility across major currency pairs.