May 03, 2021 – The series of Manufacturing PMI and Unemployment rates, along with the RBA Rate Statement and BOE Monetary Policy Report, can drive plenty of headlines to keep the markets on the move.
Here’s what to expect in this week’s market events.
US Economy and April Jobs
The U.S. economy is expected to have notched up another strong month of jobs growth in April with Friday’s nonfarm payrolls report expected to show 978,000 jobs created, after 916,000 jobs were added in March – the largest increase since last August.
Earnings are rebounding from last year’s pandemic-fueled lows, with results now in from more than half of the S&P 500 companies.
Fed Chairman Jerome Powell is speaking on Monday, but he is not expected to offer any fresh insights on the economy during his appearance to discuss community development at an online conference hosted by the National Community Reinvestment Coalition.
Bank of England Meeting
The BoE could take its foot off the stimulus pedal and scale back its pace of bond purchases at its meeting on Thursday, with Britain’s economy rebounding strongly from the pandemic-induced recession.
Major Market Events Happening This Week
1. US ISM Manufacturing PMI – Monday, 15:00 GMT
2. RBA Interest Rate Decision:– Tuesday, 5:30 GMT
3. NZD – Unemployment Rate – Tuesday, 23:45 GMT
4. US ISM Manufacturing PMI – Wednesday, 15:00 GMT
5. Crude Oil Inventories – Wednesday, 15:30 GMT
6. Bank of England Monetary Policy Report – Thursday, 12:00 GMT
7. Canadian Employment Rate – Friday, 13:30 GMT
(sources: Investing, Yahoo Finance)