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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