Weekly Analysis (3-7 June)
| Time | Currency | Event |
| Monday | ||
| 01:45 | CNY | Caixin Manufacturing PMI |
| 08:00 | EUR | Manufacturing PMI Final |
| 14:00 | USD | ISM Manufacturing PMI |
| Tuesday | ||
| 14:30 | AUD | JOLTs Job Openings |
| 23:00 | AUD | Judo Bank Services PMI S |
| Wednesday | ||
| 01:30 | AUD | GDP Growth Rate |
| 01:45 | CNY | Caixin Services PMI |
| 08:00 | EUR | Services PMI Final |
| 08:30 | GBP | S&P Global Services PMI |
| 13:45 | GBP | BoC Interest Rate Decision |
| Thursday | ||
| 12:30 | EUR | ECB Interest Rate Decision |
| 12:30 | ECB | ECB Press Conference |
| 14:00 | CAD | Ivey PMI |
| Friday | ||
| 03:00 | CNY | Balance of Trade |
| 09:00 | GBP | GDP Growth Rate |
| 12:30 | USD | Unemployment Rate |
| 12:30 | USD | Non Farm Payrolls |
| 12:30 | USD | Average Hourly Earnings |
In the coming week, investors will be keeping a close eye on the US nonfarm payrolls data. Around 180,000 new jobs are expected to have been created in May, following an increase of 175,000 in April. The unemployment rate is set to remain unchanged at 3.9%, while wage growth is expected to rise from 0.2% to 0.3%. This data will have a decisive impact on market expectations regarding the Federal Reserve's monetary policy, as investors have recently scaled back their bets on interest rate cuts.
Other key US economic indicators to be released this week include the JOLTS report, ADP employment figures, Challenger job cuts, ISM manufacturing and services PMIs, trade balance, factory orders, and construction spending. This data will provide a comprehensive picture of the health of the US economy and the private sector.
In Canada, the Bank of Canada is expected to cut interest rates by 25 basis points, although some investors believe that the central bank may opt for a more cautious approach and hold borrowing costs steady. Employment and trade balance data for Canada will also be in focus.
Turning to Europe, the European Central Bank's monetary policy decision will take center stage, with the central bank widely expected to deliver a 25 basis point cut, marking the first reduction in interest rates since 2016. Traders will also keep a close eye on any hints for future moves, as markets now expect only one more reduction. Key economic data from the Eurozone, including GDP growth, employment estimates, producer prices, retail sales, and PMIs, will provide further insights into the region's economic health.
In Asia, China's Caixin PMI figures for May will be closely watched after the official PMI unexpectedly showed a contraction in the country's manufacturing activity and a slowdown in its construction sector. Chinese trade figures will also be in the spotlight, as investors look for signs of whether foreign demand can continue to sustain a significant portion of China's growth. Australia's first-quarter GDP is expected to reflect another period of slight growth, along with other economic indicators such as trade balance, home loans, and the Ai Group industry index.