JustForex has summarized what is happening this week & Expectations of Economic News!
This article is originally referred from JustForex News.
JustForex’s financial analyst has prepared for you a new review of events for this week. Pick out those which results you would like to track as quickly as possible, and do not miss them.
Last week, the ECB and the Bank of Japan kept interest rates at the previous levels: 0.00% and 0.1% respectively. The ECB President Draghi pointed to the positive changes in the EU economy. The regulator said that the monetary policy should remain adaptive. The Bank of Japan raised the forecast for the country’s economic growth in the 2017-2018 fiscal years from 1.5% to 1.6%. The attention is focused this week on the Fed meeting and the report on the US labor market.
As always, a number of important macroeconomic data and news are expected to be published in the upcoming trading week.
May 1st, Monday
On Monday, do not expect high trading activity. This is due to the Labor Day holiday in most European countries. Nevertheless, we recommend you to pay attention to the news line from the USA:
- Minister of Finance Mnuchin’s speech (14:45 GMT+3:00)
- The index of business activity in the manufacturing sector from ISM (17:00 GMT+3:00)
May 2nd, Tuesday
In the Asian trading session, we expect important economic reports.
- At 04:45 (GMT+3:00) Caixin will release the data on business activity in China’s manufacturing sector.
- At 07:30 (GMT+3:00), the RBA will decide on the interest rate.
It is expected that the Central Bank will keep the interest rate at the previous level of 1.50%.
In the European trading session, the data on indices of business activity in the manufacturing sector in Germany and the United Kingdom will be published.
May 3rd, Wednesday
On Wednesday, the news background will be very saturated.
- At 01:45 (GMT+3:00), the Statistical Service of New Zealand will publish a report on the labor market.
- In the course of the European trading session, the data on the German labor market (10:55 GMT+3:00), as well as business activity in the construction sector of Britain (11:30 GMT+3:00) will appear.
- At 12:00 (GMT+3:00), a preliminary report on the growth of the euro zone economy will be published.
- At 15:15 (GMT+3:00) the preliminary data on the change in the number of employed in the non-agricultural sector of the US from ADP will be released.
- Also, it is necessary to pay attention to the index of business activity in the non-manufacturing sector of the USA from ISM (17:00 GMT+3:00).
- At 21:00 (GMT+3:00) there will be a meeting of the FOMC and a decision will be taken on the interest rate of the Fed.
At the moment, most experts believe that the Central Bank will not change the monetary policy. At the same time, it is necessary to pay attention to the comments of the Fed representatives.
May 4th, Thursday
On Thursday, the news background will be calmer. The publication of important economic reports from the EU and the US is not planned. At the same time, we recommend you to pay attention to the following events:
- The index of business activity in the services sector of Great Britain (11:30 GMT+3:00)
- Speech by the head of the ECB Draghi (19:30 GMT+3:00)
- Speech of the head of the Bank of Canada Poloz (23:25 GMT+3:00)
May 5th, Friday
Participants of the financial markets will expect a report on the labor market in the US for April.
The forecast indicates that the number of people employed in the non-agricultural sector of the country will increase by 185,000 compared to the previous value of 98,000. We also recommend you to pay attention to the following events:
- At 15:30 (GMT+3:00), the Statistics Canada will publish data on employment and unemployment levels
- Ivey business activity index in Canada (17:00 GMT+3:00)
- Speech by Fed Chairman Yellen (20:30 GMT+3:00)
Original Source: JustForex News