MARKETS FOCUS TURNS TO THE NEXT U.S INTEREST RATE RISE WITH THE RELEASE OF ISM MANUFACTURING DATA AND MAY NONFARM PAYROLLS JOB REPORT
MARKETS LOOK TO U.S DATA
Financial markets attention turns to the United States this week, with key manufacturing and jobs data being released for the month of May. The Federal Reserve will be paying close attention to this week's U.S economic data releases before they meet on June 14th.
Monday 29th May, Bank Holiday
Financial markets will be subdued on Monday, as the United States, United Kingdom and China observe respective Bank Holiday's.
Tuesday 30th May, U.S Consumer Confidence
U.S financial markets return after the Memorial Day Bank holiday. Consumer confidence data is released for the month of May, the forecasted number is expected to show consumer confidence remains high in the U.S economy.
Wednesday May 31st, CHINESE Manufacturing PMI Data
Chinese purchasing manufacturing data for the month of May is released on Wednesday. Financial markets will be watching the headline number closely after Moody's rating agency downgraded the countries rating by one notch, and the previous months manufacturing figure showed a decline from 51.8 in March to 51.2 in April.
Thursday June 1st, U.S ADP Jobs Report and ISM Manufacturing Data
June begins with the release of key jobs and manufacturing data from the United States. The ADP report is estimated to show that 185,000 jobs had been created in the U.S economy for the month of May, whilst the ISM report is expected to show a strong expansionary reading above 50.
Friday June 2nd, U.S Nonfarm Payrolls Job Report
The Nonfarm payrolls job report is expected to show that 183,000 jobs have been created for the U.S economy in May. Traders will also be looking inside the actual jobs report for insights into U.S wage growth, and job sector hiring numbers.