- A huge week of economic announcements in markets this week, starting tonight with Treasury Secretary Mnuchin speaking at 9:45pm. US, China and UK PMI’s all out tomorrow, NZ Employment figures out Wednesday, Crude Oil Inventories & FOMC Statement on Thursday, and US Non Farm Payroll figures out on Friday night, just to name a few.
- In busy weeks like this, when opportunities present daily, traders are encouraged to monitor markets closely and be proactive with their positions. For easyMarkets online platform users, you can download the iPhone or Android app to keep you on track.
- Minor losses across US equity indices on Friday due to weak GDP data. Stocks rallied 1% in April despite North Korea and Syria conflict; tax plan promises lacking detail and the threat of a Le Pen victory in French elections. Gains have been supported by a stronger than expected US earnings season – earnings from Apple out this week.
- Further on Friday, the Euro gained off the back of strong inflation figures, edging closer to the ECBs target of 2%. All eyes on the June ECB statement for any signs of cutting stimulus.
- Final rounds of French elections take place this Sunday, with Polls expecting a Macron win. Market moves on Friday evening will be interesting as traders’ position themselves before the weekend.
- Tuesday, we have RBA Cash Rate and Statement. With a miss on CPI last Wednesday, all expectations are for the Bank to leave rates at record lows. With measures taken to reduce mortgage exposure across banks and buyers, comments may have a ‘wait and see’ theme.
- Swiss, French, German, Italian, UK and China bank holiday today, so there’s potential for subdued volumes/activity in the European session this evening.
Today’s Economic calendar (AEST)
- European & China Bank Holiday
- 11:00am AUS MI Inflation Gauge
- 9:45pm Mnuchin Speaking
- 12:00am US ISM Manufacturing PMI
