Economic Calendar: A Snapshot of the US Economy After 3 Months of War (28.05.2026)

On May 28, 2026, the global financial markets are experiencing significant volatility due to escalating geopolitical tensions, particularly following recent US military actions in Iran. This has led to a notable increase in crude oil prices, which have surged by nearly 2-3% as a direct response to the heightened conflict.

The sentiment in Asian markets has deteriorated sharply, with major equity indices reflecting losses that have interrupted a previous wave of optimism. This downturn is compounded by hawkish comments from Federal Reserve officials, notably Lisa Cook, who indicated a willingness to raise interest rates if inflationary pressures persist.

Investors are keenly awaiting key macroeconomic data releases from the US, including the revised Q1 GDP figures, the Fed's preferred PCE inflation measure, and weekly labor market statistics. In the Eurozone, sentiment and business climate indices are also expected to influence market dynamics.

The evening will bring the EIA crude oil inventories report, which is anticipated to further impact energy commodities. As a result, heightened volatility is expected across US dollar currency pairs, crude oil contracts (both WTI and Brent), and US stock indices.

Macroeconomic Calendar Highlights

• 08:10 - Eurozone: ECB President Speech
• 08:30 - Hungary: Unemployment Rate (Consensus: 4.5%)
• 09:00 - Poland: BIEC Leading Economic Indicator
• 11:00 - Eurozone: Economic Sentiment Indicator (Consensus: 92.6 pts)
• 14:30 - USA: Revised GDP Growth (Consensus: 2.0%)
• 14:30 - USA: Core PCE Inflation (YoY) (Consensus: 3.3%)
• 14:30 - USA: Jobless Claims (Consensus: 209K)
• 17:00 - USA: EIA Crude Oil Inventories (Consensus: -4.4m bbl)

Market Insights

Three key markets to watch include:

• Crude Oil (WTI / Brent): The recent US airstrikes in Iran have led to a strong rebound in oil prices, with the EIA report on US commercial crude inventories expected to drive further volatility.
• Stock Market: The geopolitical escalation has caused a pullback in Asian indices, and Wall Street investors will need to balance these developments with the anticipated GDP data and corporate earnings reports from major retailers.
• US Dollar (USD): The hawkish stance from Fed officials, combined with a comprehensive set of macroeconomic data, is likely to create conditions for increased volatility across major USD-related currency pairs.