Weekly Outlook: Apr 30 - May 5

Monday

Asia: Japanese and Chinese markets will remain closed on Monday in observance of national holidays. China’s manufacturing and non-manufacturing activity indexes for April will be released as of 01:00 GMT.

Europe: Germany’s retail sales for March will be out at 06:00 GMT, with a 0.8 percent increase seen. Later on, traders will pay attention to the German consumer price index for April. Analysts are forecasting a 0.5 percent growth in prices.

United States: Market players will be focused on the core PCE price index at 12:30 GMT. This is Fed’s favourite inflation measure and investors are hoping to see a 1.9 percent advance against a previous month 1.6 percent growth. Personal spending will also be released by that time. Pending home sales for March are up at 14:00 GMT.

Tuesday

Europe: the UK manufacturing PMI for April is scheduled for publishing as of 08:30 GMT, with a 54.8 points read eyed.

United States: Markit Economics will present April manufacturing activity index at 13:45 GMT. The Institute for Supply Management will release its own manufacturing PMI fifteen minutes later. The American Petroleum Institute is expected to release its weekly report on crude and refined products stockpiles by 20:30 GMT.

Wednesday

Asia: China’s Caixin manufacturing PMI for April is up at 01:45 GMT, with a 50.8 points reading seen.

Europe: Germany and the Eurozone will count on their manufacturing PMIs as of 07:55 GMT and 08:00 GMT respectively. In both cases, analysts are forecasting no changes from the prior month. But that’s far from all for the bloc. EU’s gross domestic product for the first quarter is due at 09:00 GMT, along with March unemployment rate.

United States: ADP nonfarm employment change for April will be out at 12:15 GMT. Market players will closely monitor this release as it usually anticipates official figures, which come later in the week. Attention will also be directed to a new Federal Reserve monetary policy meeting. In this opportunity no interest rate changes are expected.

Thursday

Europe: the services PMI for April in the UK will be release at 08:30 GMT. In the Eurozone, focus will be at inflation data, with the consumer price index due at 09:00 GMT.

United States: initial jobless claims, trade balance for March, nonfarm productivity and unit labor costs for the first quarter are all scheduled for release at 12:30 GMT. The services and composite PMI will be published at 13:45 GMT. A few minutes later, durable goods orders, factory orders and the ISM non-manufacturing PMI await in the cue.

Friday

Asia: China’s services PMI will be out as early as 01:45 GMT.

Europe: Germany and the Eurozone again take the lead on Friday, with their services and composite PMIs due for release at 08:00 GMT. EU’s retail sales are also coming up one hour later.

United States: average hourly earnings, nonfarm payrolls and the unemployment rate will be released at 12:30 GMT. Also, Baker Hughes weekly oil rig count is expected at 17:00 GMT.

FortFS