mask Week Ahead | Dollar starts to climb up

28/ 05/ 2017

Week Ahead | Dollar starts to climb up

29th May 2017 - 02nd June 2017

Monday

  • EUR ECB President Draghi’s Speech

A quiet start to the week as no economic reports will be released from US and UK thanks to Memorial Day and spring break holiday. In the evening ECB President Draghi is scheduled to testify with regards to the monetary policy developments and European Union’s economy before the Committee of Economic and Monetary Affairs.

Tuesday

  • EUR Service Sentiment, Consumer Confidence, Business Climate
  • USD Personal Spending, Personal Income & Dallas Fed Manufacturing Index

A busy day in the market as data from Euro zone and USD will flood in. First up will be Service Sentiment from Euro zone which measures business sentiment in the services sector. This will be followed by Consumer Confidence which measures the level of consumer confidence in economic activity.

This will be followed Business Climate survey which is designed to deliver a clear and timely assessment of the cyclical situation within the euro area.

The focus then shifts to US where Personal Spending, Personal Income & Dallas Fed Manufacturing Index will be released.

Wednesday

  • EUR Consumer Price index, Unemployment Change and Rate & Consumer Price Index
  • GBP Consumer Credit & Mortgage Approvals
  • USD Chicago Purchasing Managers Index & Pending Home Sales

Early morning, we will see consumer data from Euro zone which will be followed by Consumer Credit and Mortgage Approvals from UK. 

From US session, it brings us Chicago Purchasing Managers Index which captures business conditions across Illinois, Indiana and Michigan. The day will end with Pending Home Sales from US which is a leading indicator of trends of the housing market in the US.

Thursday

  • EUR Inflation Data
  • USD ADP Non-Farm Payrolls, Initial Jobless Claims, Markit Manufacturing PMI, ISM Manufacturing PMI and ISM Prices Paid

Thursday brings us many reports related to inflation from Euro zone where reports will focus on Gross Domestic Product and Markit Manufacturing PMI.

From US session, we have warm up data for Fridays Labor data. Namely Initial jobless claims and ADP Non-Farm Payrolls will play a big role while these will be followed by Markit Manufacturing PMI, ISM Manufacturing PMI and ISM Prices Paid reports.

Friday

  • GBP PMI Construction
  • EUR Producer Price Index
  • USD Labor Data (Non-Farm Payrolls, Unemployment Rate, Labor force participation rate and Average Early earnings)

Friday brings us a major data from USA where lot of volatility is expected. First up will be PMI construction data from UK which shows business conditions in the UK construction sector.  This will be followed by Producer Price Index which is an index that measures the change in prices received by domestic producers of commodities in all stages of processing.

All focus will be on the US session where Major data such as Non-Farm Payrolls, Unemployment Rate, Labor force participation rate and Average Early earnings will come out.

Nonfarm payrolls will be a key report as this is the last report before the important Fed decision in June and could make the difference between raising the rates and staying put.