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European markets trade slightly higher
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Bank of Canada expected to deliver 50 bp rate hike
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ISM manufacturing for May at 3:00 pm BST
Slightly more positive tones can be observed on the Europea morning after a mixed Asian session. Economic calendar for the day ahead is packed with various releases. However, a bulk of those are revisions of PMI data for May and will not have a major impact on the markets. Nevertheless, there are also some events and release schedules that have a potential to move the markets. Manufacturing ISM may have some minor short-term impact on USD but Bank of Canada rate decision will surely boost volatility on CAD market. Bank is expected to deliver a 50 basis point rate hike, second in a row, with the main rate expected to return to pre-pandemic levels (1.50%).
8:15 am BST - Spain, manufacturing PMI for May. Expected: 52.0. Previous: 53.3
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Open account Try demo Download mobile app Download mobile app8:45 am BST - Italy, manufacturing PMI for May. Expected: 53.6. Previous: 54.5
8:50 am BST - France, manufacturing PMI for May (final). First release: 54.5
8:55 am BST - Germany, manufacturing PMI for May (final). First release: 54.7
9:00 am BST - Euro area, manufacturing PMI for May (final). First release: 54.4
9:30 am BST - UK, manufacturing PMI for May (final). First release: 54.6
10:00 am BST - Euro area, unemployment rate for April. Expected: 6.7%. Previous: 6.8%
2:45 pm BST - US, manufacturing PMI for May (final). First release: 57.5
3:00 pm BST - Bank of Canada rate decision
3:00 pm BST - US, ISM manufacturing index for May. Expected: 54.5. Previous: 55.4
3:00 pm BST - US, construction spending for April. Expected: 0.6% MoM. Previous: 0.1% MoM
9:40 pm BST - US, API report on oil inventories. Expected: -0.7 mb. Previous: 0.57 mb
Central bankers' speeches
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12:00 pm BST - ECB President Lagarde
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4:30 pm BST - Fed Williams
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6:00 pm BST - Fed Bulard
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6:00 pm BST - Fed Mester
Wall Street earnings releases
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Gamestop (GME.US) - after market close
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NetApp (NTAP.US) - after market close
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