Key Economic Data
United States
April Factory Orders: A modest increase would indicate steady demand in manufacturing, supporting a soft-landing narrative.
JOLTS Report: Elevated job openings may point to a tight labor market, reinforcing wage and inflation pressures, potentially influencing the Fed’s rate path.
May Total Vehicle Sales: A rebound would suggest resilient consumer demand and could support equities tied to autos and credit.
Global
China Caixin Manufacturing PMI (May): Fell to 48.3, signaling contraction. Weak manufacturing momentum due to renewed U.S. tariffs may pressure Asian markets and commodity demand.
Eurozone May CPI (Inflation): Core CPI rose to 2.9% year-on-year. Sticky inflation could keep the ECB cautious, reducing chances of near-term rate cuts.
Japan Monetary Base (May): Watching for signals on BOJ’s monetary support levels amid a weakening yen.
Other notable data: France April budget balance, Italy April unemployment rate, Eurozone April unemployment rate, and Switzerland May CPI—all of which could affect regional currencies and bond markets.
Central Bank Activity
Federal Reserve: Goolsbee, Cook, and Logan are speaking. Markets will watch for any hints on the Fed’s inflation outlook and the timing of potential rate cuts.
Bank of Japan: Governor Ueda indicated openness to rate hikes if inflation picks up again. This could strengthen the yen or raise Japanese bond yields.
Earnings to Watch
CrowdStrike (CRWD): Expected to show strong revenue growth (~20%), though a slowdown in annual recurring revenue (ARR) could raise concerns about sustainability.
Hewlett Packard Enterprise (HPE): Will shed light on corporate IT and cloud infrastructure spending trends.
Dollar General (DG): Will reflect consumer sentiment and spending patterns, especially in economically sensitive segments.
NIO Inc. (NIO): Earnings will focus on EV delivery volumes, pricing, and profitability amidst fierce competition in China.
Trading Implications
U.S. Dollar (USD): May strengthen if JOLTS data shows labor market tightness and Fed speakers lean hawkish.
Treasuries: Strong inflation or labor data could push yields higher, particularly at the front end of the curve.
Equities: Potential for volatility in tech and consumer sectors tied to earnings and vehicle sales figures.
Commodities: China’s weak PMI may weigh on oil and industrial metals.
Forex: Euro, yen, and Swiss franc likely to react to inflation data and central bank commentary.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
United States
April Factory Orders: A modest increase would indicate steady demand in manufacturing, supporting a soft-landing narrative.
JOLTS Report: Elevated job openings may point to a tight labor market, reinforcing wage and inflation pressures, potentially influencing the Fed’s rate path.
May Total Vehicle Sales: A rebound would suggest resilient consumer demand and could support equities tied to autos and credit.
Global
China Caixin Manufacturing PMI (May): Fell to 48.3, signaling contraction. Weak manufacturing momentum due to renewed U.S. tariffs may pressure Asian markets and commodity demand.
Eurozone May CPI (Inflation): Core CPI rose to 2.9% year-on-year. Sticky inflation could keep the ECB cautious, reducing chances of near-term rate cuts.
Japan Monetary Base (May): Watching for signals on BOJ’s monetary support levels amid a weakening yen.
Other notable data: France April budget balance, Italy April unemployment rate, Eurozone April unemployment rate, and Switzerland May CPI—all of which could affect regional currencies and bond markets.
Central Bank Activity
Federal Reserve: Goolsbee, Cook, and Logan are speaking. Markets will watch for any hints on the Fed’s inflation outlook and the timing of potential rate cuts.
Bank of Japan: Governor Ueda indicated openness to rate hikes if inflation picks up again. This could strengthen the yen or raise Japanese bond yields.
Earnings to Watch
CrowdStrike (CRWD): Expected to show strong revenue growth (~20%), though a slowdown in annual recurring revenue (ARR) could raise concerns about sustainability.
Hewlett Packard Enterprise (HPE): Will shed light on corporate IT and cloud infrastructure spending trends.
Dollar General (DG): Will reflect consumer sentiment and spending patterns, especially in economically sensitive segments.
NIO Inc. (NIO): Earnings will focus on EV delivery volumes, pricing, and profitability amidst fierce competition in China.
Trading Implications
U.S. Dollar (USD): May strengthen if JOLTS data shows labor market tightness and Fed speakers lean hawkish.
Treasuries: Strong inflation or labor data could push yields higher, particularly at the front end of the curve.
Equities: Potential for volatility in tech and consumer sectors tied to earnings and vehicle sales figures.
Commodities: China’s weak PMI may weigh on oil and industrial metals.
Forex: Euro, yen, and Swiss franc likely to react to inflation data and central bank commentary.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.