IMPACT ITEMS: CN- HSBC PMI, EZ- Mfg PMI, ECB, US- Trade, Weekly
The FOMC decision
Wednesday was cautious to neutral as expected. They explicitly left the
door open to an increase or decrease in bond purchases depending on
economic data. Bottom-line future policy decisions are data dependent.
U.S. data released over the day
were mostly weaker than expected.
U.K. April Manufacturing PMI at
49.8 was virtually at the "50" expansion level. It suggests a steady
policy from the BOE next Thursday. .
The ECB decision Thursday is
key. On Wednesday an unnamed ECB official appeared to signal a rate cut
is in store.This would have little impact on the economy but send
a support message. There is a lot of room for a disappointment if
there is no ECB action.
Japanese Golden Week
holidays continue off and on all week..
Actionable trading levels delivered LIVE to YOUR charts
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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