(Note: all times HKT)
While China is set to release a slew of important manufacturing data this week, all eyes will be on the west as the ECB announces its interest rate decision, OPEC holds it’s closed-door meeting, and the U.S. releases their all-important jobs report for May. The Greek and IMF drama meanwhile, will also be closely-followed.
Monday will see Japan release their March capital spending figures around 9 am, while China’s National Bureau of Statistics is set to unveil their highly-anticipated manufacturing and non-manufacturing PMI data an hour after at 10 am. These will be followed within the hour by Japan’s final Markit PMI along with China’s final HSBC PMI for May. Analysts expect a slight gain for all the aforementioned figures. At 9 pm, Germany will release its preliminary inflation rate for the month, while two hours later at 11 pm, America’s May’s ISM PMI data is set to be unveiled. Germany’s inflation rate is expected to gain, while U.S. PMI is forecasted to slightly contract.
Tuesday meanwhile will be a light on market-moving data, with just Australia’s RBA set to reveal their interest rate policy. They shall be doing so around 1:30 pm, and analysts widely expect the central bank to keep things steady. Singapore is also set to release it’s May SIPMM manufacturing PMI number at 10 pm. This is forecasted to come a little stronger than April’s figure.
In contrast to Tuesday, Wednesday will be heavy on important info, beginning with Australia releasing their quarterly GDP growth rate figures around 10:30 am, followed by China’s May HSBC services PMI shortly after. Australia’s YoY growth is expected to slightly contract while it’s QoQ growth rate is forecasted to remain unchanged. China’s services PMI is expected to go up a few notches. At 6 pm, the Eurozone is expected to release their unemployment rate figures for April while around 8:30, the ECB will take center stage, releasing their interest rate decision followed by a press conference. They are both expected to remain unchanged. Shortly after the EU, the U.S. is slated to reveal their May EDP employment change data, followed by their April balance of trade, and rounded up by ISM’s non-manufacturing PMI for May. All three data points are expected to go higher.
Thursday will see all eyes on the BoE and the BoJ, with the former reporting both its asset purchase facility data and interest rate decision at 8 am, while the latter will see its governor have a press conference an hour later. The Bank of England is expected to remain steady in regards to rates and asset purchases.
Friday morning meanwhile will be bereft of any important data, but the BoJ will kick off the deluge at 2 pm as they report their preliminary leading and composite economic index numbers for April. The former is expected to remain flat while the latter is forecasted to decrease. At 6 pm, EU is set to release their second quarterly and yearly GDP growth rate estimates for the first quarter. Both are expected to nudge higher while at 9:30 pm, U.S. non-farm payrolls and jobs report for the month of May are expected to dominate the news. Payrolls are expected to rise while unemployment is believed to remain unchanged. OPEC also begins it’s meeting on this day, with the cartel expected to continue ramping up production throughout the year.
Photo credit: ECB European Central Bank via Flickr