Economic calendar: ISM and ADP data in the spotlight

9:17 am 1 April 2020

  • ADP expected to show 150k decrease in US employment

  • Manufacturing ISM forecast to drop to 45 pts

  • Revised PMI data from Europe

Risk-off tones can be spotted in early European trading. DAX futures point to over 3% bearish price gap at session launch. A lot of PMI indices will be released today but most of them will be revisions. US ADP report and ISM manufacturing are key readings scheduled for today. DoE report on oil may be overlooked due to an ongoing Saudi-Russia price war.

9:30 am  GMT - Germany, manufacturing PMI for March (final). Preliminary reading: 45.7 pts

9:00 am  GMT - Euro area, manufacturing PMI for March (final). Preliminary reading: 44,8 pts

9:30 am  GMT - UK, manufacturing PMI for March (final). Preliminary reading: 47 pts

1:15 pm GMT - US, ADP employment change for March. ADP estimates will serve as a final check ahead of the NFP report release scheduled for Friday, 1:30 pm GMT. However, traders should keep in mind that both ADP and NFP reports are based primarily on data from the first half of the month. Having said that, reports may not capture the full impact of the coronavirus outbreak. Market consensus expects readings of -150k.

2:45 pm GMT - US, manufacturing PMI for March (final). Preliminary reading: 49.2 pts

3:00 pm GMT - US, ISM manufacturing for March. So far, the US data has been quite resilient to coronavirus-related disruptions. ISM data is closely watched when it comes to moods in the US economy and poor reading could encourage risk aversion. However, it should be noted that US manufacturing PMI barely dropped in March. Market expects a drop from 50.1 to 45 pts.

3:30 pm GMT - DOE report on stockpiles.

  • Crude Oil. Expected: +4.3 mb

  • Distillates. Expected: 0.8 mb

  • Gasoline. Expected: 2.0 mb

The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world.