Daily Update - 2nd May 2017
Monday U.S. Treasury Secretary Steven Mnuchin said on Monday that economic growth of three percent is achievable in the next two years as the Trump administration sets out to dramatically cut taxes. ISM Manufacturing PMI report has shown negative figures, the expected index was 56.5 but the actual is 54.8. This showed U.S. factory activity slowed in April, while consumer spending was unchanged in March, and an important inflation measure fell on a monthly basis for the first time since 2001. Tuesday Early morning Reserve Bank of Australia will release their rate decision which is expected remain unchanged while this will be followed by their rate statement. By afternoon Euro zone will release Markit Manufacturing PMI which captures business conditions in the manufacturing sector. This will be followed by Unemployment Rate from Euro zone which is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the European Economy. Day will end with Markit Manufacturing from UK.
