The key reports of the day will be the U.S. manufacturing PMI and ISM for April. These publications will be especially worth monitoring in the context of yesterday’s GDP report, which turned out much weaker than expected.
Although the GDP weakness was mainly driven by net exports — as companies imported goods “in advance” anticipating the introduction of tariffs in April — other components also came in slightly weaker.
Similarly, in today’s PMI and ISM reports, it will be important to pay attention to sub-indices on prices, new orders, and employment. These components may shed more light on business sentiment and their potential impact on the labor market and price pressures.
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07:30 AM BST, Japan - BoJ Press Conference
08:30 AM BST, Switzerland - PMI Data for April:
- procure.ch Manufacturing PMI: forecast 48.6; previous 48.9;
09:30 AM BST, United Kingdom - PMI Data for April:
- S&P Global Manufacturing PMI: forecast 44.0; previous 44.9;
01:30 PM BST, United States - Employment Data:
- Continuing Jobless Claims: forecast 1,860K; previous 1,841K;
- Initial Jobless Claims: forecast 224K; previous 222K;
- Jobless Claims 4-Week Avg.: previous 220.25K;
02:45 PM BST, United States - PMI Data for April:
- S&P Global Manufacturing PMI: forecast 50.7; previous 50.2;
03:00 PM BST, United States - ISM Data for April:
- ISM Manufacturing Prices: forecast 72.9; previous 69.4;
- ISM Manufacturing PMI: forecast 48.0; previous 49.0;
- ISM Manufacturing New Orders Index: previous 45.2;
- ISM Manufacturing Employment: previous 44.7;
