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The Day AheadKey Economic Data Releases United States ISM Manufacturing Index (May) A leading indicator for the economy. A stronger-than-expected reading could strengthen the USD and raise Treasury yields. Construction Spending (April) Tracks activity in the construction sector, useful for GDP estimates. United Kingdom Net Consumer Credit & M4 Money Supply (April) Provides insights into consumer borrowing and monetary conditions. Could impact expectations for Bank of England rate policy. Japan Q1 MoF Corporate Survey Gives details on corporate investment and sentiment. Relevant for the yen and Bank of Japan policy expectations. Italy Manufacturing PMI (May) A reading below 50 suggests contraction. Important for eurozone growth outlook and Italian asset risk premiums. New Car Registrations Measures consumer demand; useful for sentiment tracking. Budget Balance Signals fiscal stance; could influence bond spreads versus German bunds. Canada Manufacturing PMI (May) A forward-looking business condition indicator. Could influence the Canadian dollar, especially if divergent from the US PMI. Switzerland Q1 GDP Market will watch for economic resilience or slowdown. May influence Swiss franc and SNB expectations. Central Bank Speakers Federal Reserve Jerome Powell (Chair) Christopher Waller (Governor) Lorie Logan (Dallas Fed President) Austan Goolsbee (Chicago Fed President) Market Focus: Any remarks on inflation persistence, growth outlook, or timing of potential rate cuts could impact the USD, equity futures, and front-end yields. Waller and Logan are particularly market-sensitive. Bank of England Catherine Mann (MPC Member) Market Focus: A known hawk—her comments on inflation and rate cut timing could influence sterling and UK short-term rates. Trading Implications The US ISM manufacturing index is the most market-sensitive data point of the day. Fed speakers could significantly affect interest rate expectations and USD. UK and Japan data will influence BoE and BoJ rate path expectations, impacting GBP and JPY. Risk assets may react to broad manufacturing PMI trends and any hawkish/dovish surprises from central bankers. 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.
by TradeNation
The Day AheadKey Economic Events – Wednesday, June 4, 2025 🇺🇸 U.S. ADP Jobs Report (May): A preview of private job growth; markets watch this ahead of Friday's official jobs report. ISM Services PMI (May): Measures health of the U.S. services sector. A reading above 50 = growth. Fed Speakers: Bostic and Cook will speak—markets listen for interest rate hints. Beige Book: Fed’s regional economic summary, useful for understanding business trends. 🇬🇧 UK Official Reserves (May): Change in the UK’s foreign reserves—can hint at FX market activity or interventions. 🇮🇹 Italy Services PMI (May): Shows whether the Italian services sector is expanding or shrinking. 🇨🇦 Canada Q1 Labor Productivity: Tracks efficiency of Canadian workers—important for inflation outlook. Bank of Canada Rate Decision: Expected to keep rates at 2.75% due to sticky inflation, even as the economy slows. Summary: Today’s key focus is on U.S. jobs and services data, the Fed’s tone, and the Bank of Canada’s interest rate decision. Markets will react to signs of inflation, growth, or central bank policy shifts. 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.
by TradeNation
The Day Ahead 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.
by TradeNation
The Day Ahead Key Data Releases: United States: April PCE Price Index: A critical inflation gauge for the Fed’s policy outlook. Personal Income & Spending: Insight into consumer strength and economic momentum. Advance Goods Trade Balance & Wholesale Inventories: Impact on Q2 GDP expectations. May MNI Chicago PMI: Regional manufacturing sentiment ahead of national ISM. United Kingdom: May Lloyds Business Barometer: Early business sentiment snapshot ahead of June BoE meeting. Japan: May Tokyo CPI: A leading inflation indicator for national trends. April Jobless Rate & Job-to-Applicant Ratio: Labor market health amid BoJ policy speculation. Industrial Production, Retail Sales, Housing Starts: Broad economic activity indicators. Germany: May CPI Flash Estimate: Crucial for ECB rate trajectory. April Retail Sales: Consumer spending dynamics. Italy: May CPI & April PPI: Inflation pipeline pressures in a key Eurozone economy. Eurozone: April M3 Money Supply: Signals liquidity and potential inflationary pressure. Canada: Q1 GDP: Growth snapshot could influence BoC expectations. Sweden: Q1 GDP: Economic performance post-Riksbank’s recent rate moves. Central Bank Speakers: Federal Reserve: Lorie Logan (Hawkish lean) – Comments will be scrutinized for clues on timing of future rate adjustments amid sticky inflation. European Central Bank: Fabio Panetta & Boris Vujcic – Potential insights into ECB's path forward, especially with diverging inflation trends in the bloc. Trading Implications: Today’s data-heavy calendar will likely drive volatility across USD, EUR, JPY, and CAD crosses. Inflation and growth readings from the U.S., Eurozone, and Canada are pivotal for near-term rate path pricing. Watch Fed and ECB commentary closely for shifts in tone. Japan's CPI and labor data may fuel BoJ tightening bets. Keep an eye on risk sentiment and yield moves for broader asset impact. 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.
by TradeNation
The Day Ahead Key Economic Data United States Richmond Fed Manufacturing Index (May) Insight into regional manufacturing. Weak data may increase rate cut expectations. Dallas Fed Services Activity Measures service sector strength; can affect Fed rate outlook. Germany Unemployment Claims Rate (May) Higher unemployment could support a more dovish ECB. Import Price Index (April) Key for inflation outlook; may influence euro and bund yields. France PPI, Consumer Spending, Q1 Payrolls Indicators of inflation and consumer strength. Can affect Eurozone equities and ECB expectations. Australia CPI (April) Major driver for AUD and rate expectations. A high print could push AUD higher. Central Bank Events FOMC Minutes Traders will watch for signals on inflation concerns and future rate path. Fed Speakers: Williams, Kashkari Comments may influence expectations for Fed policy shifts. ECB Consumer Expectations Survey Insight into Eurozone inflation expectations. Affects EUR. RBNZ Decision Direct impact on NZD. A hawkish stance could lift NZD. Earnings (Market Movers) NVIDIA High-impact for NASDAQ and AI stocks. Watch for volatility and options activity. Salesforce Key for tech sector sentiment, especially SaaS names. Synopsys, Agilent, Abercrombie & Fitch Sector-specific insights: semis, health, consumer. Bond Auctions US 2-Year FRN US 5-Year Notes Auctions may impact Treasury yields and USD. Weak demand could push yields higher. Trading Focus Watch USD, AUD, EUR, NZD around data and central bank events. NVIDIA earnings could shift tech and AI market sentiment. Treasury yield curve may move on Fed minutes and auctions. 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.
by TradeNation
The Day Ahead Economic Data (Key Market Movers) United States: April Durable Goods Orders – Key manufacturing signal. May Conference Board Consumer Confidence – Insight into consumer outlook. May Dallas Fed Manufacturing Activity – Regional factory health. March FHFA House Price Index / Q1 House Price Purchase Index – Housing trends. Asia: China April Industrial Profits – Industrial sector health check. Japan April Services PPI – Service-sector inflation data. Europe: Germany June GfK Consumer Confidence – Eurozone demand signal. France May CPI – Eurozone inflation input. Eurozone May Economic Confidence – Overall sentiment indicator. EU27 April New Car Registrations – Auto industry and consumer demand barometer. Central Bank Activity Fed’s Kashkari speaks – May affect USD, short-end yields. ECB’s Villeroy and Nagel speak – Watch for policy clues ahead of June decision. Earnings Releases Xiaomi – China tech sentiment. PDD Holdings – Consumer demand in China. AutoZone – U.S. retail/auto sector strength. Okta – Enterprise tech/security outlook. Bond Auction U.S. 2-Year Treasury Note – Key for gauging short-term rate sentiment and demand for front-end duration. Trading Focus U.S. data (durables, confidence) may drive early equity, USD, and bond market moves. Central bank commentary can create intraday volatility, especially in rates and FX. China and EU data influence risk tone and commodities. Earnings from Xiaomi, PDD, Okta may move tech indexes and related sectors. 2Y auction is a barometer for Fed path expectations. 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.
by TradeNation
The Day AheadTuesday May 20 Data: US May Philadelphia Fed non-manufacturing activity, China 1-yr and 5-yr loan prime rates, Germany April PPI, Italy March current account balance, ECB March current account, Eurozone March construction output, May consumer confidence, Canada April CPI, Denmark Q1 GDP Central banks: Fed's Bostic, Barkin, Collins and Musalem speak, ECB's Wunsch, Cipollone and Knot speak, BoE's Pill speaks, RBA decision Earnings: Home Depot, Palo Alto Networks, Vodafone Other: G7 finance ministers and central bankers meeting in Canada (through May 22), EU's foreign and defence ministers meeting in Brussels 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.
by TradeNation
The Day AheadKey Economic Data, Market Moving Potential: United States University of Michigan Consumer Sentiment (May, preliminary) – Key for gauging consumer confidence & inflation expectations. Building Permits & Housing Starts (April) – Important for housing market outlook and economic momentum. Import/Export Prices (April) – Monitors inflation pressure from trade. TIC Flows (March) – Shows foreign investment in US securities. NY Fed Services Business Activity – Insight into the services sector strength in the NY region. Japan Q1 GDP – Key read on Japanese economic performance. Eurozone / Italy Eurozone & Italy Trade Balance (March) – Relevant for EUR strength and trade dynamics. Canada International Securities Transactions (March) – Tracks foreign demand for Canadian assets. Central Bank Speakers: Fed’s Barkin (Hawkish/Dovish tone watch) BoJ’s Nakamura (Policy outlook) ECB’s Lane (Eurozone inflation/growth views) BoE’s Lombardelli (UK economic commentary) Watch for rate path clues and policy sentiment shifts. Earnings: Cie Financière Richemont (Luxury sector pulse – could affect European equities & sentiment) Other: European Commission Spring Economic Forecasts Could impact EUR and EU equity markets depending on growth/inflation projections. 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.
by TradeNation
The Day Ahead Thursday May 15 Data: US April PPI, retail sales, industrial production, capacity utilisation, May Philadelphia Fed business outlook, Empire manufacturing index, NAHB housing market index, March business inventories, initial jobless claims, UK Q1 GDP, Japan April machine tool orders, Germany April wholesale price index, Italy March general government debt, Eurozone Q1 employment, March industrial production, Canada April housing starts, existing home sales, March manufacturing sales, Australia April labour report, Norway Q1 GDP Central banks: Fed's Chair Powell and Barr speak, ECB's Cipollone, Elderson, Guindos and Villeroy speak, BoE's Dhingra speaks Earnings: Walmart, Alibaba, Siemens, Deutsche Telekom, Allianz, Mitsubishi UFJ, Deere, Applied Materials, National Grid, 3i Group, Engie, Take-Two, RWE, Cava 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.
by TradeNation
The Day AheadKey Data Releases Japan April PPI: Watch for inflation trends in producer prices — relevant for JPY traders and Japanese equity markets. Canada March Building Permits: Can impact CAD and real estate-related stocks. Central Bank Speakers (Market-Sensitive) Fed: Waller, Jefferson, Daly — could impact USD, Treasuries, and risk sentiment depending on rate outlook comments. ECB: Nagel, Holzmann — eurozone rate policy cues; relevant for EUR and European bond markets. BoE: Breeden — any hint on UK rate path may move GBP and UK gilts. Earnings to Watch (Equity & Sector Impact) Tencent: Major for tech and Chinese markets; relevant for sentiment in large-cap growth and Asian markets. Cisco: A key read on enterprise IT demand; can affect tech sector sentiment in US markets. Sony: Gaming and entertainment sectors; may influence JPY and global consumer discretionary names. E.ON: Utility sector insight; relevant for European defensives and energy transition plays. Coreweave: Hot AI infrastructure name — of interest to traders focused on AI-linked tech momentum. RENK: Defense and mobility systems — could impact European defense names. Burberry: Luxury sector health and China demand barometer; impacts fashion/luxury retail. 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.
by TradeNation
The Day Ahead Friday May 9 Data: China April trade balance, Q1 BoP current account balance, Japan March labor cash earnings, household spending, leading index, coincident index, Italy March industrial production, Canada April jobs report, Norway April CPI Central banks: Fed's Williams, Waller, Kugler, Goolsbee and Barr speak, ECB's Simkus and Rehn speak, BoE's Bailey and Pill speak Earnings: Mitsubishi Heavy Industries, Recruit Holdings, Commerzbank, Cellnex 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.
by TradeNation
The Day Ahead - BoE Rate Decision Thursday May 8 Data: US Q1 nonfarm productivity, Q1 unit labor costs, March wholesale trade sales, April NY Fed 1-yr inflation expectations, initial jobless claims, UK April RICS house price balance, Germany March industrial production, trade balance Central banks: BoE, Riksbank and Norges Bank decision, BoJ minutes of the March meeting, BoE's April DMP survey, BoC financial stability report Earnings: Toyota Motor, AB InBev, Shopify, ConocoPhillips, Nintendo, DBS, McKesson, Enel, Rheinmetall, Siemens Energy, Coinbase, Cheniere Energy, Infineon, Kenvue, HubSpot, TKO Group, Leonardo, AP Moller - Maersk, Warner Bros Discovery, Toast, Expedia, Pinterest, DraftKings, Affirm, Tapestry, Illumina, Banca Monte dei Paschi di Siena, Rocket Lab, Paramount Global, Davide Campari-Milano, Crocs, Lyft, Puma, Peloton, Sweetgreen Auctions: US 30-yr Bonds
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The Day Ahead - Fed Rate Decision US: March consumer credit slowed → weaker demand → supports lower rate expectations. UK: April construction PMI below 50 → contraction → bearish for GBP. Eurozone (Germany, France, Italy, Euro-wide): Factory orders, construction PMIs, retail sales weak → signs of economic slowdown → bearish for EUR. China: April foreign reserves slightly down → limited impact. France (details): Widening trade deficit, mild wage growth → mixed outlook. Italy: March retail sales down → weak consumer demand. Federal Reserve (May decision): Held rates at 5.25–5.50%. Slowed pace of balance sheet reduction (QT). Powell ruled out further hikes for now. Fed remains data-dependent. Trading Relevance: Rates/Bonds: Bullish – lower yields likely. USD: Slightly weaker – dovish Fed tone. Stocks: Positive – QT slowdown supports equities. EUR/GBP: Bearish – weak data, dovish central bank expectations. 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.
by TradeNation
The Day AheadTuesday, May 6 – Financial Trading Summary & Relevance Key Data Releases: US March Trade Balance – Important for assessing the strength of US exports vs. imports. A larger deficit may weigh on USD; narrower gap may support it. China April Caixin Services PMI – Insight into China's private service sector. Stronger data could lift global risk sentiment and commodity-linked currencies (e.g., AUD). UK April Data: Official Reserves Changes – Minimal short-term trading impact. New Car Registrations – Reflects consumer sentiment and demand; relevant for UK auto stocks and GBP sensitivity. France March Industrial Production – A leading gauge for Eurozone growth; stronger output may support EUR. Italy April Services PMI – Adds to Eurozone PMI sentiment; market-moving for EUR if deviating significantly. Eurozone March PPI – Inflation gauge; higher-than-expected may raise ECB hawkishness bets, boosting EUR and yields. Canada March Trade Balance – Important for CAD traders; strong trade could support CAD. Major Earnings Releases (market movers): Tech & Growth Focus: Palantir (PLTR) – Government & AI analytics focus; market keen on forward guidance and AI revenues. AMD (AMD) – Key semiconductor player; crucial for tech sentiment, especially in AI chip space. Arista Networks (ANET) – Cloud and networking performance gives insights into broader tech infra spending. Datadog, Astera Labs – Watch for cloud and AI-related growth signals. Consumer & Travel: Marriott (MAR) – Key for travel demand trends. Zoetis – Animal health; solid defensive sector performer. Coupang – Insight into Asian e-commerce and consumer health. Autos & Industrials: Ferrari, Rivian – Luxury vs. EV sentiment; Rivian earnings especially key for EV sector momentum. Vestas – Wind energy indicator; watch for green transition spending trends. Financial & Healthcare: Intesa Sanpaolo – Italy’s largest bank; insight into Eurozone financials. IQVIA, Fidelity – Relevant for healthcare services and asset management outlook. Bond Market: US 10-Year Note Auction – Closely watched for investor demand amid shifting Fed rate expectations. Weak auction = higher yields = USD strength. Trading Relevance Summary: FX: EUR, GBP, CAD and USD sensitive to economic prints (trade, PMIs, inflation). Equities: Focus on tech (AMD, Palantir, Datadog), EVs (Rivian), and industrials (Ferrari, Vestas). Bonds: 10-yr auction could set tone for yields. Commodities: China services PMI may influence oil and metals via demand expectations. 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.
by TradeNation
The Day Ahead - US Employment data due!Friday, May 2 Macro Data to Watch (Market Impact Potential): US April Jobs Report – Major market mover for USD, equities, and bonds. Sets expectations for Fed policy. US March Factory Orders – Secondary data; relevant for industrial and manufacturing sectors. Eurozone April CPI – Key inflation data; potential EUR/USD and ECB rate path influence. Eurozone March Unemployment Rate – Labor market context for ECB policy. Japan April Monetary Base & Labor Data – JPY-sensitive; signals BoJ liquidity stance. Italy Manufacturing PMI & March Unemployment – Insight into Eurozone periphery economy. France March Budget Balance – Fiscal health check; limited direct market impact. Central Bank Watch: ECB Economic Bulletin – Can give insight into ECB’s inflation and growth outlook. May guide EUR direction. Earnings (Key for Sector Moves & Index Impact): Energy: Exxon Mobil, Chevron, Shell – Crude oil-sensitive; big impact on energy indices. Healthcare & Insurance: Cigna Group – Influences healthcare and insurance stocks. Industrials/Chemicals: Eaton, BASF, DuPont – Watch for global growth signals and margins. Financials: Apollo, ING, NatWest, Standard Chartered – Useful for readthrough on credit trends and regional banking health. Autos: Mitsubishi, Italy new car registrations – Auto demand signals, relevant for sector ETFs. 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.
by TradeNation
The Day Ahead Macroeconomic Data Releases (Market-Moving Potential): US Data ISM Manufacturing Index (April): A key indicator of manufacturing health; impacts USD, equities, and bond yields. Total Vehicle Sales: Reflects consumer demand and manufacturing strength. Construction Spending (March): Signals strength in real estate and infrastructure sectors. Initial Jobless Claims: Weekly indicator of labor market health; influences Fed policy expectations. UK Data Net Consumer Credit & M4 (March): Provides insight into consumer borrowing and money supply growth; can affect GBP and BoE policy outlook. Japan Consumer Confidence Index (April): Influences sentiment on domestic consumption; impacts JPY and Nikkei index. Canada Manufacturing PMI (April): Indicator of economic activity; affects CAD and TSX. Central Bank Activity: Bank of Japan (BoJ) Policy Decision: Key focus on any adjustments to yield curve control or forward guidance. High impact on JPY, Japanese equities, and global bond markets. Corporate Earnings (High-impact, broad sector exposure): Mega-cap Tech & Consumer: Apple, Amazon, Airbnb, Roku, Wayfair, Reddit: Major influence on Nasdaq and sentiment in growth/tech stocks. Financials & Payments: Mastercard, Block, Blue Owl Capital, KKR: Insight into consumer spending and credit trends. Healthcare: Eli Lilly, CVS Health, Moderna, Stryker, Amgen: Updates on drug pipelines and healthcare services; influences biotech sentiment. Industrials & Energy: McDonald's, Linde, Harley-Davidson, Dominion Energy, United States Steel, Targa Resources, Howmet Aerospace: Read-throughs for global demand, input costs, and supply chains. Other Key Sectors: Estee Lauder (Luxury/Consumer), Duolingo & Twilio (Tech/EdTech), Live Nation (Services), Maplebear (Instacart), Cameco (Uranium/Nuclear): Diverse sector insights. Other Notable Events: UK Local Elections: Though local, outcomes may indicate broader political sentiment, especially ahead of a potential general election. Moves in GBP, UK equities, and gilts possible if results hint at political instability or changes in economic policy outlook. Trading Implications: Equities: Expect high volatility due to major earnings releases and macro data. Sectors like tech, healthcare, and consumer discretionary could see significant moves. FX: USD, JPY, and GBP in focus due to data and central bank developments. Bonds: ISM, jobless claims, and BoJ decision may affect global yield curves. Commodities: Vehicle sales and construction data may influence oil/metals demand expectations. 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.
by TradeNation
The Day Ahead Wednesday April 30 Data: US Q1 GDP, employment cost index, April ADP report, MNI Chicago PMI, March core PCE, personal income and spending, pending home sales, China April official PMIs, Caixin manufacturing PMI, UK April Lloyds Business Barometer, Japan March retail sales, industrial production, housing starts, Germany April CPI, retail sales, import price index, unemployment claims rate, Q1 GDP, France April CPI, March PPI, consumer spending, Q1 GDP, Italy April CPI, March PPI, Q1 GDP, Eurozone Q1 GDP, Canada February GDP, Australia Q1 CPI Central banks: ECB’s Muller speaks, BoE’s Lombardelli speaks Earnings: Microsoft, Meta, Samsung, Qualcomm, Caterpillar, TotalEnergies, Airbus, Iberdrola, Santander, UBS, KLA, Equinix, GSK, Tokyo Electron, MediaTek, Equinor, Mercedes-Benz Group, Credit Agricole, Barclays, Volkswagen, CaixaBank, Deutsche Post, Haleon, Robinhood, Societe Generale, Humana, eBay, GE HealthCare, ArcelorMittal, Evolution AB, Repsol, Norwegian Cruise Line, Albemarle, Wingstop, Etsy Auctions: US Treasury quarterly refunding announcement 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.
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The Day AheadTuesday April 29 Data: US April Conference Board consumer confidence index, Dallas Fed services activity, March JOLTS report, advance goods trade balance, wholesale inventories, February FHFA house price index, Germany May GfK consumer confidence, Italy April consumer confidence index, manufacturing confidence, economic sentiment, March hourly wages, February industrial sales, Eurozone March M3, April economic, industrial, services confidence, Sweden Q1 GDP indicator Central banks: ECB’s March consumer expectations survey, Holzmann and Cipollone speak, BoE’s Ramsden speaks Earnings: Visa, Coca-Cola, Novartis, China Construction Bank, AstraZeneca, HSBC, Booking, S&P Global, Pfizer, Honeywell, Spotify, American Tower, Altria, Starbucks, Mondelez, Sherwin-Williams, UPS, BBVA, BP, Atlas Copco, Ecolab, Regeneron, PayPal, Royal Caribbean Cruises, Wal-Mart de Mexico, Universal Music Group, Hilton, Fair Isaac, adidas, GM, Corning, Kraft Heinz, CoStar, Ares 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.
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The Day AheadMacro Data to Watch: US: April Kansas City Fed Services Index – May give insight into regional business sentiment. UK: April GfK Consumer Confidence – Early read on sentiment post-budget. March Retail Sales – Important for GBP and rate expectations. Japan: April Tokyo CPI – Key inflation indicator ahead of BoJ policy. France: April Business Confidence – Watch for any signs of slowing Eurozone momentum. Canada: February Retail Sales – Impacts CAD, potential rate path hints. Central Bank Watch: BoE’s Greene speaks – May offer clues on UK rate path amid inflation stickiness. Earnings to Watch (Market Movers): US: AbbVie, Colgate-Palmolive, HCA Healthcare, Charter Communications, Schlumberger, Centene, LyondellBasell Focus on healthcare, consumer staples, and energy names for sector sentiment. Asia: Ping An Insurance, Keyence, Advantest – Key bellwethers for China and Japan. This lineup could drive volatility across FX (GBP, JPY, CAD), equity indices, and sector ETFs. Watch sentiment shifts based on inflation data and earnings surprises. 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.
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The Day AheadThursday, April 24 – Market Focus US Economic Data: Chicago Fed National Activity Index (March) Durable Goods Orders Existing Home Sales Kansas City Fed Manufacturing (April) Initial Jobless Claims International Data: Japan PPI Services (March) Germany Ifo Business Climate (April) France Consumer Confidence (April) EU New Car Registrations (March) Central Bank Speakers: Fed: Kashkari ECB: Nagel, Simkus, Rehn, Lane BoE: Lombardelli Earnings Highlights: Alphabet, P&G, T-Mobile, Merck, PepsiCo, Gilead, Union Pacific, Comcast Sanofi, BNP Paribas, SK Hynix, Intel, Dassault Systèmes Bristol-Myers, Fiserv, Digital Realty, Freeport-McMoRan, Keurig Dr Pepper Eni, Nasdaq, L3Harris, Vale, PG&E, Orange, Valero, Nokia, Dow US Treasury Auction: 7-Year Note 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.
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The Day AheadWednesday 23rd April 2025 Key economic data includes April flash PMIs for the US, UK, Japan, Germany, France, and the Eurozone. These are important indicators of economic momentum and inflation pressures, with potential impact on FX, rates, and equities. In the US, March new home sales will provide a read on housing market strength. The UK reports March public finances, which could influence gilt markets and sterling. In the Eurozone, February trade balance and construction output data are on deck, offering insights into trade dynamics and sector-specific activity. Central bank focus is high. The Fed releases its Beige Book and features speakers including Goolsbee, Musalem, Waller, and Hammack. Markets will be listening closely for signals on rate expectations and regional economic trends. From the ECB, Knot, Villeroy, and Lane are scheduled to speak, potentially influencing eurozone rate expectations. From the Bank of England, Bailey, Pill, and Breeden will offer comments that could affect sterling and rate outlooks. Earnings are heavy and span key sectors. Notable names reporting include IBM, ServiceNow, Texas Instruments, Lam Research, Boeing, GE Vernova, Chipotle, O’Reilly Auto, Thermo Fisher, Boston Scientific, NextEra Energy, Newmont, Philip Morris, AT&T, General Dynamics, and Volvo. This mix provides important reads across tech, industrials, healthcare, and consumer sectors. On the fixed income side, the US Treasury will auction 2-year floating rate notes and 5-year notes. Watch for yield curve movements and demand signals, particularly given the dense schedule of Fed speakers. 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.
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The Day Ahead Tuesday 22 April - Macro Data to Watch US Philadelphia Fed (non-manufacturing) – Insight into regional services sector strength. Richmond Fed Index – Regional manufacturing pulse; can affect rate expectations. Business Conditions – Sentiment read, relevant for short-term economic momentum. Eurozone Consumer Confidence (April) – A leading indicator for consumer spending. Debt-to-GDP (2024) – Helps assess fiscal sustainability/risk premium. Canada March Industrial Product Price Index & Raw Materials Price Index – Key inflation inputs, may influence BoC policy outlook. Central Bank Speakers (Potential Market Movers) Fed Jefferson, Kashkari, Harker – Watch for any guidance on rate cuts/timing. ECB Knot speaks; ECB’s Survey of Professional Forecasters also out – Insight into inflation/monetary policy expectations. Earnings (Market Impact: High) Big Names Reporting: Tesla – Retail/institutional focus; moves broad market + sentiment. SAP – Tech/enterprise software sector read. GE, RTX, Lockheed Martin, Northrop Grumman – Defense/industrial tone-setters. Verizon, Intuitive Surgical, Danaher, Chubb – Broad sector coverage; healthcare, telecom, insurance. Elevance Health, MSCI, Moody's, Equifax – Key reads on health insurers, financials, and credit conditions. Enphase Energy, EQT, Baker Hughes – Energy sector sentiment, especially in renewables/oil services. US Treasury Auctions 2-Year Note Auction – Short-end yield focus; critical for curve shape and rate expectations. 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.
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The Day Ahead Thursday, April 17 – Market Snapshot In the US, traders will be watching March housing starts and building permits for signs of real estate momentum, while initial jobless claims and the Philly Fed index offer fresh insight into the labour market and regional manufacturing sentiment. Overseas, Japan reports its March trade balance, Germany releases its March PPI—a key inflation gauge—and Australia’s labour force survey will be crucial for AUD positioning. Canada’s February international securities transactions could offer clues on capital flows. Central banks are in focus with the ECB rate decision front and centre, which could move EUR pairs. Fed speakers Schmid and Barr are also on the radar for any policy tone shifts, while BoJ’s Nakagawa and the Bank of England’s Q1 credit conditions survey could influence JPY and GBP, respectively. On the earnings front, TSMC will set the tone for semiconductors, and Netflix gives a look into streaming and consumer sentiment. Key financials like UnitedHealth, American Express, Charles Schwab, Blackstone, and Truist Financial all report, along with DR Horton for housing and ABB for the global industrial read. The US also auctions 5-year TIPS, which could move inflation expectations and impact rate-sensitive trades.
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