- Higher stock market opening in Europe
- EURUSD back above 1.07 after Powell's comments yesterday
- Manufacturing PMIs of European economies, US jobless claims and Apple results
Today, the markets' attention will shift briefly in the morning hours to Europe, where the markets will receive the final PMI readings from the major economies and the Eurozone. A potentially higher-than-forecast reading from Germany, in particular, is likely to improve sentiment on the Eurodollar, which has returned above 1.07 after Powell's speech yesterday, which was received rather dovishly by the markets (tapering QT since June, still not open door for a possible rate hike). In the following hours, attention will quickly shift to the United States, where we will be awaiting claims, along with productivity indexes and orders from US factories, which may shed more light on the overall health of the economy. Earlier, at 1:30 pm, investors will also learn data from the Challenger report, which will show the number of April layoffs. Wall Street will look toward Apple shares, as the smartphone maker will report financial results, after the close of today's US trading session.
Economic calendar
7:30 AM GMT, Switzerland, CPI inflation. Reading: 1.4% vs. 1.1% forecast and 1% previously (0.3% m/m vs. 0.1% forecast and 0% previously)
- Retail sales -0.1% m/m vs -0.2% previously
Final manufacturing PMI from European economies:
- 8:15 AM GMT Spain. Previously: 51,4
- 8:30 AM GMT Switzerland. Previously: 45,5
- 8:45 AM GMT Italy. Previously: 50,4
- 8:50 AM GMT France. Previously: 44,9
- 8:55 AM GMT Germany. Previously: 42,2
- 9 AM GMT Eurozone. Previously: 45,6
9:30 AM GMT, Hong Kong Q1 GDP data. Expected: 0.8% y/y vs. 4.3% y/y previously (0.9% m/m vs. 0.4% previously)
10 AM GMT, OECD economic forecasts
12:30 PM GMT US - Challenger report. Previously: 90.3k.
1:30 PM GMT US jobless claims. Expected: 211k vs. 207k previously
- Unit labor costs. Expected: 4% vs. 0.4% previously
- Initial productivity. Expected: 0.5% vs. 3.2% previously
- Continuing claims: 1.79 million vs. 1.781 million previously
3 PM GMT US, US factory orders. Expectations: 1.6% m/m vs 1.4% m/m previously
- Durable Goods Orders (revision). Previously 2.6% y/y and 0.2% m/m
3:30 PM GMT US - Change in gas inventories (EIA). Expected: 59 billion cubic feet (bcf) vs 92 bcf previously
Central bankers' speeches:
- BoC Macklem - 1:45 PM GMT
- ECB Lane - 9:15 PM GMT
Wall Street companies quarterly results: Apple (AAPL.US), after the US session
ملخص اليوم - تقرير قوي عن الوظائف غير الزراعية قد يؤخر خفض أسعار الفائدة من قبل الاحتياطي الفيدرالي
عاجل: بيانات الوظائف غير الزراعية من الولايات المتحدة
ديوا تستحوذ على حصة «دبي القابضة» في «إمباور» مقابل 1.4 مليار دولار
التقويم الاقتصادي: بيانات الوظائف غير الزراعية وتقرير مخزونات النفط الأمريكية 💡
