Monday 4th May: European Open Briefing

Global Markets:

  • Asian stock markets: Nikkei up 0.05 %, Shanghai Composite gained 0.85 %, Hang Seng rose 0.40 %, ASX climbed 0.10 %

  • Commodities: Gold at $1182.50 (+0.70 %), Silver at $16.28 (+0.90 %), WTI Oil at 59.08$ (-0.15 %), Brent Oil at $66.35 (-0.20 %)

  • Rates: US 10 year yield at 2.112, UK 10 year yield at 1.85, German 10 year yield at 0.357

News & Data:

  • China HSBC Manufacturing PMI 48.9, Expected: 49.4, Previous: 49.2

  • Australia MI Inflation Gauge 0.3 %, Previous: 0.4 %

  • Australia Building Approvals 2.8 %, Expected: -2.0 %, Previous: -3.2 %

  • New Zealand ANZ Commodity Price Index -7.4 %, Previous: 4.6 %

  • ASIC: Pre RBA Decision Movements In AUD Result Of Low Liquidity Not Misconduct

CFTC Positioning Data:

  • EUR net short 198K vs 215K short prior

  • JPY net short 6K vs 14K short prior

  • GBP net short 34K vs short 29K prior

  • AUD net short 27K vs short 34K prior

  • CAD net short 21K vs short 27K prior

  • CHF net short 1K vs long 0K prior

Upcoming Events:

  • 08:45 BST – Italian Manufacturing PMI (53.5)

  • 08:50 BST – French Manufacturing PMI (48.4)

  • 08:55 BST – German Manufacturing PMI (51.9)

  • 09:00 BST – Euro Zone Manufacturing PMI (51.9)

  • 09:30 BST – Euro Zone Sentix Investor Confidence (19.8)

  • 15:00 BST – US Factory Orders (2.0 % m/m)

  • 20:10 BST – FOMC Member Williams speaks

The Week Ahead (Key Data/Events):

Tuesday, May 05th

  • 02:30 BST – Australian Trade Balance

  • 05:30 BST – RBA Interest Rate Decision

  • 05:30 BST – RBA Statement

  • 09:30 BST – UK Construction PMI

  • 10:00 BST – Euro Zone PPI

  • 13:30 BST – Canadian Trade Balance

  • 14:45 BST – US Services PMI

  • 15:00 BST – US ISM Non-Manufacturing PMI

  • 23:45 BST – New Zealand Unemployment Change

  • 23:45 BST – New Zealand Unemployment Rate

Wednesday, May 06th

  • 02:30 BST – Australia Retail Sales

  • 02:45 BST – Chinese HSBC Services PMI

  • 08:45 BST – Italian Services PMI

  • 08:50 BST – French Services PMI

  • 08:55 BST – German Services PMI

  • 09:00 BST – Euro Zone Services PMI

  • 10:00 BST – Euro Zone Retail Sales

  • 13:15 BST – US ADP Nonfarm Employment Change

  • 14:15 BST – Fed Chair Yellen speaks

  • 15:00 BST – Canadian Ivey PMI

  • 18:30 BST – FOMC Member Lockhart speaks

Thursday, May 07th

  • 02:30 BST – Australia Employment Change

  • 02:30 BST – Australia Unemployment Change

  • 07:00 BST – German Factory Orders

  • 13:30 BST – US Initial Jobless Claims

  • 13:30 BST – Canadian Building Permits

Friday, May 08th

  • 03:00 BST – Chinese Trade Balance

  • 06:45 BST – Swiss Unemployment Rate

  • 07:00 BST – German Trade Balance

  • 08:15 BST – Swiss CPI

  • 09:30 BST – UK Trade Balance

  • 13:30 BST – US NFP

  • 13:30 BST – US Unemployment Rate

  • 13:30 BST – Average Hourly Earnings

  • 13:30 BST – Canadian Employment Change

  • 13:30 BST – Canadian Unemployment Rate

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