Weekly Outlook: May 29 – Jun 02; Last NFP Before June’s FOMC Meeting

This week promises to inundate traders with a plethora of macro-economic data. U.S. last NFP report before June’s FOMC meeting, when a rate hike is expected, is coming out on Friday. The Markit PMI for many countries will be released while one week left for the U.K. election and polls’ results will be under the microscope.
On Monday both U.S. and U.K. will be on a bank holiday, thus we expect only news from Europe and later in the day, from Japan. Eurozone’s private loans and money supply for April will be released while at 13:00 GMT, ECB President Mario Draghi will give a speech. During the Asian session, Japanese unemployment rate for April is expected to remain at 2.8% and retail trade for the same month to rise up by 2.3% year-over-year, versus an increase of 2.1% the previous month.
On Tuesday morning, U.K. nationwide housing prices for May is coming out and a few hours later traders’ attention will be turned to Eurozone’s sentiment indicators, German CPI and U.S. consumers’ spending indicators. Services sentiment in the Euro area is forecasted to meet its earlier estimate of 14.2 in May, as well as the consumer confidence at -3.3. On the other hand, industrial confidence, business climate and economic sentiment indicator for May are estimated to increase versus the previous figures. German flash CPI figure is anticipated to show a slowdown in the pace the consumer prices rise. In May. CPI is forecasted to be 1.7%, compared with the same month year before, from 2.0% the last print.
U.S. personal spending will probably rise by 0.4% in April versus a flat month before, according to market consensus. The same rise will have the personal income for the same month, though, in March, it was not flat by rose by 0.2%. Personal consumption expenditures price indices are also coming out. Late in the second half of the trading day, Reserve Bank of New Zealand will publish its financial stability report and from U.K., the Gfk consumer sentiment is expected to plunge deeper in the negative area, to -8 versus -7 in April, due to the uncertainty in the country before the general elections, in the middle of Brexit talks...

Read the full weekly trading outlook on JFD Research.

JFD Brokers Review