Market Welcomes Easter, Will Data Egg-cites Next Week?
Abstract：In February, economic activity within the U.S. manufacturing sector continued its contraction for the 16th consecutive month in February with the data stood 47.8 against 49.1 recorded in January, according to the Institute for Supply Management (ISM).
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The Week Ahead: Week of 1stApril(GMT+2)
Market Welcomes Easter, Will Data Egg-cites Next Week？
Monday, 1stApril2024, 16:00
ISM Manufacturing PMI (Mar)
In February, economic activity within the U.S. manufacturing sector continued its contraction for the 16th consecutive month in February with the data stood 47.8 against 49.1 recorded in January, according to the Institute for Supply Management (ISM). The contraction was due to slowing demand and easing output. However, while the manufacturing sector is expected to remain in contraction in the first quarter due to customer order changes, it is moving closer to expansion and business is projected to be strong for the rest of 2024. The market expects that the data will improve for March and slowly rebound for the rest of the year.
Wednesday, 3April2024, 14:15
ADP Nonfarm Employment Change (Mar)
ADP, a payroll processing firm, reported on Wednesday that private sector job growth in February showed improvement with companies adding 140,000 positions for the month accompanied by a 5.1% increase in annual pay rise, although it fell slightly short of expectations of 149,000 increase. ADP chief economist stated that the jobs gains remain solid, and the labor market is dynamic. With employment growth remaining steady, the upcoming data is expected to remain robust and improved from previous reading.
Wednesday,3April2024, 16:00
ISM Services PMI(Mar)
The U.S. services industry growth slowed a bit in February with the data came in at 51.7 during its preliminary release, against analyst expectation of 52.0. The decrease was primarily caused by a reduction in employment, yet the gauge for new orders rose to its highest level in six months, indicating inherent resilience in the sector. Service providers have expressed greater positivity regarding the future, with retailers saying business is good and confidence hitting its highest level in 22 months during March. It is anticipated that the data will continue to show expansion, even if the rate of growth slows slightly.
Friday,5April2024, 14:30
U.S Nonfarm Payrolls (Mar)
In February, the Bureau of Labor Statistics reported a nonfarm payroll increase of 275,000, exceeding economists' expectations of 198,000. Job growth was predominantly seen in the services sector, particularly in healthcare, hospitality, and the public sector. Economists predict ongoing strength in the labor market, although this report likely won't alter the Federal Reserve's outlook, as Fed Chair Jerome Powell previously characterized the job market as relatively tight. Investors are now bracing for potential signs of inflation from the upcoming data.
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For June 2024, Canada's CPI rose by 2.7% year-over-year, down from 2.9% previously. This decrease in core inflation is driven by a combination of slower economic growth and moderated wage growth, even with a strong labor market. The FOMC meeting minutes from July 2024 indicated that the Federal Reserve decided to maintain the federal funds rate within the target range of 5.25% to 5.50% and revealed a shift in the Fed's focus. The latest data on U.S. Initial Jobless Claims, for the week ending...
Eye on the Horizon: Market Anticipate Inflation Data Ahead
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Market Clash with Rate Uncertainty: Can Data Bring Clarity?
In March, the government revised its previous estimate, indicating that the U.S. economy expanded at a robust annualized rate of 3.4% from October to December. Initially, it reported a slightly lower growth figure of 3.2% for the same period. The number of individuals in the United States who filed for unemployment insurance benefits were unchanged at a seasonally adjusted 212,000 for the week ended April 13. Despite the Federal Reserve's attempts to cool it, the U.S. labor market persists in
Inflation Takes the Wheel: Brace for Impact!
According to the US Census Bureau, retail sales in the US rose by 0.6% on monthly basis in February. This reading followed a 1.1% decline registered in the initial month of the year, amounting to $696.7 billion, and fell below the anticipated 0.8% increase. In January, the unemployment rate unexpectedly rose to 3.9% from December's 3.8%, while wage growth slowed in the UK labor market, signaling weaknesses consistent with a broader economic slowdown. In Feb, Canada experienced an unexpected
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