Author: Dan Shiel

Monday 2nd May 

2.45am – China Caixin mfg PMI (April): expected to fall to 49.5 from 49.7.

8.55am – German Manufacturing (April) : 51.9 forecast vs 51.9 previous

9am – Eurozone Manufacturing (April) : 51.5 forecast vs 51.5 previous

3pm – ECB President Draghi speaks

3pm – US ISM mfg PMI (April): forecast to fall to 51.5 from 51.8.

Tuesday 3rd May

Earnings : BMW Q1 2016 / Fresnius SE Q1 2016 / Infineon Technologie Interim 2016 / Lufthansa Q1 2016

5.30am – RBA rate decision: rates expected to stay at 2%, although there is a growing caucus that thinks a cut might be on the way.

9.30am – UK mfg PMI (April): activity is expected to increase, with the PMI number rising to 51.2 from 51.

10am – Eurozone PPI : (MoM)(March) -0.1% forecast vs -0.7% previous / (YoY) (March) -4.3% forecast vs -4.2% previous

Wednesday 4th May

Earnings : Siemens Interim 2016 / Deutsche Telecom Q1 2016 / Continental Q1 2016 / Adidas Q1 2016 / Beiersdorf Q1 2016 / Heidelbergcement Q1 2016

2.45am – China Caixin services PMI (April): activity forecast to fall, as the index drops to 51.2 from 52.2.

8.55am – German Composite PMI (April) : 53.8 forecast vs 53.8 prior

8.55am – German Services PMI (April) : 54.6 forecast vs 54.6 prior

9am – Eurozone Market Composite PMI (April) : 53.0 forecast vs 53.0 prior

9am – Eurozone Services PMI (April) : 53.2 forecast vs 53.2 prior

10am – Eurozone Retail Sales (MoM) (March) : -0.1% forecast vs 0.2% prior / (YoY) (March) 2.4% forecast vs 2.4% prior

1.15pm – US ADP employment numbers (April): 194K jobs expected to have been created, up from 200K last month. 9.30am – UK construction PMI (April): this, the least important of the UK PMI readings, is expected to see activity weaken slightly, with the index falling to 54 from 54.2.

1.30pm – US trade balance (March): deficit forecast to increase to $47.2 billion, from $47 billion in February.

3pm – US ISM mfg PMI (April): expected to remain at 54.5 for the month.

3.30pm – US EIA crude inventories change: stockpiles expected to rise by 200,000, down from the 2 million increase of a week earlier.

Thursday 5th May

2.30am – Australia trade balance (March): deficit expected to narrow to A$3.3 billion from A$3.4 billion.

9.30am – UK services PMI (April): growth in the sector expected to be weaker, with the index falling to 53.2 from 53.7.

1.30pm – US initial jobless claims: expected to be 259K for the week, up from 257K in the preceding week.

Friday 6th May 

1.30pm – US non-farm payrolls (April): 203K jobs expected to have been created, down from 215K last month, while the unemployment rate remains at 5%. Average hourly earnings expected to rise 0.3%, in line with the previous month. 

1.30pm – Canada employment data (April): unemployment rate expected to remain at 7.1%.