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Key economic events to watch in week 17
30 May 2024
This week brings a series of pivotal economic events that could sway markets and influence trading strategies. Here’s what to keep an eye on, along with specific times and dates:
Monday
- Various nations release their latest Purchasing Managers’ Index (PMI) reports, offering a glimpse into the health of the manufacturing sector globally.
Tuesday
- 15:00 GMT for February, with a consensus expectation of 53, indicating continued expansion of the US services sector.
Wednesday
- 12:30 AM GMT expected to decline to 1.4% from 2.1%.
- 15:00 GMT, with a decline of 131,000 jobs anticipated, but minimal impact is expected until the NFP report later in the week.
- Jerome Powell speaks to Congress on Wednesday and Thursday, likely emphasizing the need for clear proof of inflation moving towards the Federal Reserve target of 2%.
Thursday
- ECB Interest Rate Decision: 13:15 GMT. The market consensus expects rates to remain stable at 4.5%. Investors are focused on the subsequent press conference for insights into future monetary policy steps.
Friday
- 13:30 GMT, with an anticipated increase of 0.1% in February, which may slightly impact the loonie.
- 13:30 GMT, including Non-Farm Payrolls (NFP) and Unemployment Rate. The NFP is expected to decline to 200,000 from 250,000.
