Global Markets Brace for Impact: Central Bank Rate Cuts and Jobs Reports Await
Markets will face a heavy load of high-impact economic data highlighed by the US and Canada jobs report on Friday, and central bank events next week. The Bank of Canada and European Central Bank are expected to cut rates next week.
Of course, the wild card will be trade news.. The week is starting with trade concerns with China. Are the Chinese withholding some key materials that will impact the US supply chain? Pres. Trump is expected to make a call to China’s Xi.
Monday, June 2
10:00am (US) – ISM Manufacturing PMI (Forecast: 49.3 | Prior: 48.7)
1:00pm (US) – Fed Chair Powell Speaks
Tuesday, June 3
2:30am (CHF) – CPI m/m (Forecast: 0.2% | Prior: 0.0%)
TBD (JPY) – BOJ Governor Ueda Speaks
10:00am (US) – JOLTS Job Openings (Prior: 7.19M)
9:30pm (AUD) – GDP q/q (Forecast: 0.4% | Prior: 0.6%)
Wednesday, June 4
8:15am (US) – ADP Non-Farm Employment Change (Forecast: 110K | Prior: 62K)
9:45am (CAD) – Bank of Canada Rate Statement
9:45am (CAD) – Overnight Rate Decision (Forecast: 2.50% | Prior: 2.75%)
10:00am (US) – ISM Services PMI (Forecast: 52.0 | Prior: 51.6)
10:30am (CAD) – BoC Press Conference
Thursday, June 5
8:15am (EUR) – ECB Main Refinancing Rate (Forecast: 2.15% | Prior: 2.40%)
8:15am (EUR) – ECB Monetary Policy Statement
8:30am (US) – Weekly Unemployment Claims (Forecast: 232K | Prior: 240K)
8:45am (EUR) – ECB Press Conference
Friday, June 6
8:30am (CAD) – Employment Change (Forecast: 7.4K)
8:30am (CAD) – Unemployment Rate (Forecast: 6.9%)
8:30am (US) – Average Hourly Earnings m/m (Forecast: 0.3% | Prior: 0.2%)
8:30am (US) – Non-Farm Payrolls (Forecast: 130K | Prior: 177K)
8:30am (US) – Unemployment Rate (Forecast: 4.2%)
This article was written by Greg Michalowski at www.forexlive.com.
