Weekly Economic Calendar

April 29 – May 3, 2024 Economic report and policy meetings

April 29

Brazil:  Brazilian Central Bank (BCB) Focus Market Readout

China:  NBS Manufacturing Purchasing Managers index (PMI) – April, NBS Non-Manufacturing PMI - April

Euro-Zone:  Consumer Confidence Final – April, Economic Sentiment – April, Industrial Sentiment – April, Spain: Inflation Rate (MoM) Preliminary – April, Inflation Rate (YoY) Preliminary – April, Business Confidence – April, Germany: Inflation Rate (YoY) Preliminary – April, Inflation Rate (MoM) Preliminary – April, Retail Sales (YoY) – March, France: Inflation Rate (YoY) Preliminary – April, Inflation Rate (MoM) Preliminary – April

Japan:  Unemployment Rate – March, Industrial Production (YoY) Preliminary – March, Retail Sales (YoY) - March, Housing Starts (YoY) – March

Netherlands:  Inflation Rate (YoY) Preliminary – April

New Zealand:  Housing Credit (MoM) – March, Retails Sales (MoM) Preliminary – March   

U.S.:  Treasury Refunding Financing Estimates, Dallas Federal Reserve Manufacturing Index – April

April 30

Australia:  Ai Group Industry Index – April, Judo Bank Manufacturing Purchasing Managers Index (PMI) Final - April

Brazil:  Unemployment Rate – March

Canada:  GDP (MoM) – February, GDP (MoM Preliminary – March

Euro-Zone:  Core Inflation Rate (YoY) Flash – April, GDP Growth Rate (QoQ) Flash – 1^st Qtr., GDP Growth Rate (YoY) Flash – 1^st Qtr., Inflation Rate (MoM) Flash – April, Inflation Rate (YoY) Flash – April, Spain: GDP Growth Rate (QoQ) Flash – 1^st Qtr., GDP Growth Rate (YoY) Flash – 1^st Qtr., Germany: Unemployment Change – April, Unemployment Rate – April, Unemployed Persons – April, Germany: GDP Growth Rate (YoY) Flash – 1^st Qtr., GDP Growth Rate (QoQ) Flash – 1^st Qtr., Italy: GDP Growth Rate (YoY) Advance – 1^st Qtr., GDP Growth Rate (QoQ) Advance – 1^st Qtr., Inflation Rate (YoY) Preliminary – April, Inflation Rate (MoM) – Preliminary – April

Japan:  Consumer Confidence – April

Mexico:  GDP Growth Rate (YoY) Preliminary – 1^st Qtr.

New Zealand:  Reserve Bank of New Zealand (RNBZ) Financial Stability Report, Employment Change (QoQ) – 1^st Qtr., Unemployment Rate – 1^st Qtr.

Poland:  Inflation Rate (MoM) Preliminary – April, Inflation Rate (YoY) Preliminary – April    

South Africa:  Balance of Trade – March

South Korea:  Exports (YoY) – April

Switzerland:  KOF Leading Indicators – April

Taiwan:  GDP Growth Rate (YoY) Advance – 1^st Qtr.

U.K.:  Mortgage Approvals – March, Mortgage Lending - March

U.S.:  Employment Cost – Benefits (QoQ) – 1^st Qtr., Employment – Cost – Wages (QoQ) – 1^st Qtr., House Price Index (MoM) – February, Conference Board Consumer Confidence – April

It’s the busiest week of first-quarter earnings season, as more than 150 S&P 550 index companies are scheduled to publish results.

May 1

Australia:  Balance of Trade – March, Building Permits (MoM) Preliminary – March

Brazil:  Balance of Trade - April

Canada:  S&P Global Manufacturing Purchasing Managers Index (PMI) – April

Euro-Zone:

Indonesia:  Inflation Rate (YoY) - April

Japan:  Bank of Japan (BoJ) Monetary Policy Meeting Minutes, Foreign Bond Investment – April 27^th   

New Zealand:  Building Permits (MoM) – March

Russia:  S&P Global Manufacturing Purchasing Managers Index (PMI) – April

South Korea:  Inflation Rate (YoY) – April, S&P Global Manufacturing Purchasing Managers Index (PMI) - April

Switzerland:  Inflation Rate (YoY) – April, Retail Sales (YoY) - March

U.K.:  S&P Global Manufacturing Purchasing Managers Index (PMI) – April, Nationwide Housing Prices (YoY) - April

U.S.:  Federal Reserve Interest Rate Decision, Federal Reserve Press Conference, ADP Employment Change – April, Treasury Refunding Announcement, S&P Global Manufacturing Purchasing Managers Index (PMI) Final – April, Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) – April, Construction Spending (MoM) – March, MBA Survey Indexes - Mortgage Market Index, Mortgage Applications (April 26), Mortgage Market Change, Mortgage Refinance Index, Refinancing Change, MBA Mortgage Approvals (April 26), Department of Energy (DOE) U.S. Crude Oil Inventories (April 26), DOE Cushing OK Crude Inventory (April 26), DOE U.S. Gasoline Inventories (April 26), DOE U.S. Distillate Inventory (April 26), DOE U.S. Refinery Utilization (April 26), DOE Crude Oil Implied Demand

The Federal Reserve’s policy committee is overwhelmingly expected to keep the federal-funds rate unchanged at a target range of 5.25% to 5.50%. At his post-meeting news conference, Chairman Jerome Powell may describe plans to slow the pace of the Fed’s balance sheet reduction later this year. The Bureau of Labor Statistics publishes the Job Openings and Labor Turnover Survey, or JOLTS. Economists’ consensus calls for 8.7 million job openings on the last business day of March. There are currently 1.3 job openings for every unemployed person, down from a peak above two in 2022.

May 2

Australia:  Judo Bank Services Purchasing Managers Index (PMI) Final – April, Home Loans (MoM) – March, Investment Lending for Homes – March

Canada:  Balance of Trade – March

Euro-Zone:  HCOB Manufacturing Purchasing Managers Index (PMI) – April, Spain: HCOB Manufacturing Purchasing Managers Index (PMI) – April, Italy: HCOB Manufacturing Purchasing Managers Index (PMI) – April, France: HCOB Manufacturing Purchasing Managers Index (PMI) Final – April, Germany: HCOB Manufacturing Purchasing Managers Index (PMI) Final – April, France: Industrial Production (MoM) – March

Hong Kong:  GDP Growth Rate (QoQ) Advance – 1^st Qtr., GDP Growth rate (YoY) Advance – 1^st Qtr.

Mexico:  Business Confidence – April

Switzerland:  procure.ch Manufacturing Purchasing Managers Index (PMI) – April     

U.S.:  Balance of Trade – March, Exports - March, Imports – March, Continuing Jobless Claims – April 20, Initial Jobless Claims – April 27, Factory Orders (MoM) - March

May 3

Brazil:  Industrial Production (MoM) – March

Euro-Zone:  Unemployment Rate – March, Spain: Unemployment Change – April, Italy: Unemployment Rate – March

Norway:  Norges Bank Interest Rate Decision

U.K.:  S&P Global Services Purchasing Managers Index (PMI) Final – April

U.S.:  Non-Farm Payrolls – April, Unemployment Rate – April, Average Hourly Earnings (MoM) – April, Average Hourly Earnings (YoY) – April, Average Weekly Hours – April, Nonfarm Payrolls Private – April, Participation Rate – April, S&P Global Composite Purchasing Managers Index (PMI) Final – April, S&P Global Services Purchasing Managers Index (PMI) Final – April, Institute of Supply Management (ISM) Services Purchasing Managers Index (PMI) – April, Baker Hughes U.S. Rig Count – May 3, Federal Reserve’s Goolsbee Speech, Federal Reserve’s Williams Speech

Economists are expecting to see an average gain of 210,000 nonfarm payrolls in April, per the Bureau of Labor Statistics’ employment report. That would be a downshift from the 303,000 added in February. The unemployment rate is expected to hold steady at 3.8%.

Bold denotes likely market-moving newsflash which traders consider significant to foreign exchange levels or otherwise important/noteworthy information, i.e., market holiday’s which will affect standard settlement dates.