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Over the next 16 hours, a deluge of economic announcements will impact markets. The reports include a number of manufacturing reports, unemployment readings, and fresh GDP numbers.Here’s what you need to know.
- South Korea starts things off at 7:00 p.m. on Thursday evening with May CPI. Consensus is for a 0.2 per cent increase month-on-month.
- At 7:50 p.m. Japan will announce capital spending, with expectations for a 1.0 per cent sequential gain during the first quarter.
- 8:00 p.m. PMI: Netherlands and South Korea
- 9:00 p.m. PMI: China, Official (Exp. 52)
- 10:00 p.m. PMI: Russia, Taiwan, and Vietnam
- 10:30 p.m. PMI: China, HSBC
- 11:00 p.m. PMI: Indonesia
- Indonesia will release export data for April at midnight on Friday morning, with consensus for a 2.5 per cent increase year-on-year.
- 1:00 a.m. PMI: India
- 2:00 a.m. PMI: Ireland
- 2:30 a.m. PMI: Sweden
- 3:00 a.m. PMI: Turkey, Norway, Poland (Exp. 48.6)
- Also at 3:00 a.m., Denmark will release both unemployment figures and retail sales for April. Economists forecast sales increased 0.2 per cent sequentially, while unemployment remains unchanged at 4.3 per cent.
- 3:15 a.m. PMI: Spain (Exp. 43.0)
- 3:30 a.m. PMI: Czech Republic and Switzerland (Exp. 47.4)
- 3:45 a.m. PMI: Italy (Exp. 43.5)
- 3:50 a.m. PMI: France (Exp. 44.4)
- 3:55 a.m. PMI: Germany (Exp. 45)
- 4:00 a.m. PMI: Greece
- Italy will release an unemployment reading at 4:00 a.m., with expectations for the jobless rate to increase 10 basis point to 9.9 per cent in April.
- 4:30 a.m. PMI: United Kingdom (Exp. 49.7)
- 5:00 a.m. PMI: Denmark, Australia and South Africa (Exp. 52.6)
- Eurozone unemployment hits at 5:00 a.m. as well. Consensus is for a 10 basis point increase in April to 11.0 per cent.
- Brazilian and Canadian GDP follow at 8:00 and 8:30 a.m., respectively. Economists expect the economies grew by 0.5 per cent (quarter-on-quarter) and 1.9 per cent (first quarter annualized).
- Attention shifts to the U.S. at 8:30 a.m. with the non farm payrolls report. Economists forecast payrolls expanded by 150,000 in May, an increase from April’s 115,000 gain. The unemployment rate is expected to remain at 8.1 per cent.
- 9:00 a.m. PMI: Brazil and United States, Markit
- 9:30 a.m. PMI: Canada
- 10:00 a.m. PMI: United States, ISM (Exp. 53.8)
- Economic data continues in the U.S. at 10:00 a.m. with construction spending, which is seen advancing 0.4 per cent in April.
- 10:30 a.m. PMI: Mexico
- Throughout the day, automakers will report May sales, with U.S. SAAR expected by 4:00 p.m.
There are no major earnings announcements scheduled for Friday.
Consensus estimates provided by Bloomberg. All times are in Eastern Standard Time.