Welcome to the Investors Trading Academy economic calendar of the week. Each week our news analysts review the upcoming economic events that you should be monitoring during the next week. There is the usual bevy of economic indicators for release in the US with employment statistics dominating the headlines later in the week. In addition, data on manufacturing activity in China is released on Monday as well as inflation and trade data later in the week. HSBC will release its manufacturing gauge on Monday and services gauge on Wednesday. And on Friday the National Bureau of Statistics will issue trade data. In addition inflation figures are expected on Saturday alongside a raft of financial figures including new yuan loans, M2 money supply and aggregate financing.
There are also several major global events including the UK elections and the nonfarm payroll report this week. All eyes will turn to the UK General Election, which, with so little time left before polls open, is still not pointing to a clear leader. We also have key data from Australia, including a rate decision, and given the shift in data to the downside we could see further weakness in the Australian dollar. News from Greece will also dominate the markets as markets are expecting an agreement before the delayed IMF payment which is due on May 9th.
In the US on Monday, the regional ISM New York survey is released as well as factory orders for March. On Tuesday, the RBA rate decision will be released early in the morning while the Australian central bank is not expected to cut rates, dovish commentary may put fresh downward pressure on the Aussie. Later in the day the US will see trade data for March with the ISM services sector gauge.
On Wednesday, the ADP national employment index and weekly data on home loans are released. In terms of the ADP jobs report, economists expect a189,000 increase in private jobs — a precursor to Friday’s official job report.
On Thursday, the Challenger job layoff data for March is released together with consumer credit and the usual weekly figures on claims for unemployment insurance. During the North American session on Thursday traders will get the first polls from the UK after the close of voting at 10pm BST time.
And on Friday in the US, the pivotal non-farm payrolls or employment data is released. In recent speeches the Federal Reserve has said that the timing of any rate hike will be ‘data dependent’. Big data like employment will play a pivotal role as to when rates are lifted. Economists expect that around 190,000 jobs were created in April. The jobless rate is expected to ease from 5.5 per cent to 5.4 per cent.
By Barry Norman, Investors Trading Academy