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Week ahead: US jobs report, ECB (and financial markets) in focus

Sun, 2nd Jun 2019 19:44


(Sharecast News) - Financial markets' focus over the coming week will be on the US jobs report for May, on Friday, and the European Central Bank's policy meeting, the day before.

However, the spotlight could shift rapidly to financial markets themselves, should the rout seen over recent weeks extend further or in a disorderly fashion.

On the back of the recent worsening in the trade tensions between the US and China, some economists have already moved to price-in a slowdown in US GDP growth towards 1.0% by the end of 2019 and as many as three 25 basis point interest rate cuts by the end of 2019.

And there is some 'market chatter' to be heard in the background regarding the risk of a recession in the States come 2020, with other geographies unlike to fare much better.

But for now at least, as long as the US jobs machine keeps humming, markets are like to draw a degree of comfort.

The consensus call for the May jobs reports in the States is for non-farm payrolls to increase by 190,000 alongside a 3.2% year-on-year increase in average hourly earnings, which would be just a tad below the prior month's reading of 3.3%.

In a possible sign of the times, in the States, on Tuesday and Wednesday, the Chicago Fed will be holding the first of its invitation only conferences to discuss the pros and cons of its policy framework and possible alternatives.

Across the Pond, in Euroland, on Thursday the ECB is set to meet to decide on policy and publish the remaining technical details of its next package of lending for the bloc' banking sector.

ECB staff will also publish their latest quarterly forecasts for the single currency bloc's economy.

The latest factory orders data out in Germany, on Thursday, will also be closely watched given recent weak readings for that economy.

Back in the UK, IHS Markit is scheduled to release its closely-followed manufacturing and services sector Purchasing Managers' Indices for May, on Monday and Wednesday.

Further afield, on Monday, survey compiler Caixin will release its own factory sector PMI for China, which will be very closely scrutinised, and on Thursday, India's Reserve Bank will meet to decide on rates.

Monday June 03

INTERIM DIVIDEND PAYMENT DATE

Smart (J) & Co.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Auto Sales (US) (20:30)

Construction Spending (US) (15:00)

ISM Manufacturing (US) (15:00)

ISM Prices Paid (US) (15:00)

PMI Manufacturing (GER) (08:55)

PMI Manufacturing (EU) (09:00)

PMI Manufacturing (US) (14:45)

FINALS

Record, Sirius Real Estate Ltd., Tatton Asset Management , Tricorn Group

AGMS

LMS Capital, Synairgen

UK ECONOMIC ANNOUNCEMENTS

PMI Manufacturing (09:30)

FINAL DIVIDEND PAYMENT DATE

BAE Systems, Epwin Group, Essentra, Robert Walters, Robinson, Strix Group

Tuesday June 04

INTERIMS

Driver Group, Gooch & Housego

QUARTERLY EX-DIVIDEND DATE

Schlumberger Ltd.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Factory Orders (US) (15:00)

Unemployment Rate (EU) (10:00)

FINALS

AO World, Bluejay Mining, Carclo, Chamberlin, Fulcrum Utility Services Ltd. (DI), Palace Capital , Vianet Group, VP

AGMS

Albion Technology & General VCT, Arrow Global Group, Destiny Pharma , Ebiquity, North American Income Trust (The), Northbridge Industrial Services, Nostrum Oil & Gas , Rockrose Energy, Sagicor Financial Corporation Limited (DI), Sherborne Investors (Guernsey) 'B' Limited, Sherborne Investors (Guernsey) C Limited NPV, Tasty, The Gym Group, Trufin

UK ECONOMIC ANNOUNCEMENTS

PMI Construction (09:30)

FINAL DIVIDEND PAYMENT DATE

Intertek Group, Mitsubhi Electric Corp., Relx plc

Wednesday June 05

INTERIMS

Chemring Group, Impax Asset Management Group

INTERIM DIVIDEND PAYMENT DATE

Focusrite

INTERIM EX-DIVIDEND DATE

Aeci 5 1/2% Prf, Barloworld Ltd.

QUARTERLY PAYMENT DATE

Unilever

QUARTERLY EX-DIVIDEND DATE

Kosmos Energy (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

ISM Non-Manufacturing (US) (15:00)

MBA Mortgage Applications (US) (12:00)

PMI Composite (EU) (09:00)

PMI Composite (GER) (08:55)

PMI Composite (US) (14:45)

PMI Services (EU) (09:00)

PMI Services (GER) (08:55)

PMI Services (US) (14:45)

Producer Price Index (EU) (10:00)

Retail Sales (EU) (10:00)

FINALS

Alpha Financial Markets Consulting, Biffa, GB Group, Workspace Group

AGMS

AA , Advanced Medical Solutions Group, Applegreen, Card Factory, Chesterfield Resources , Downing Three VCT F Shs, Downing Two VCT F Shs , Echo Energy , Flowtech Fluidpower, Funding Circle Holdings , GVC Holdings, Hurricane Energy, Learning Technologies Group , Lookers, M&C Saatchi, Ocean Outdoor Limited NPV (DI) , Plaza Centers NV, Share plc

UK ECONOMIC ANNOUNCEMENTS

PMI Services (09:30)

FINAL DIVIDEND PAYMENT DATE

Hostelworld Group , Lookers, Menhaden

Thursday June 06

INTERIM DIVIDEND PAYMENT DATE

Coca-Cola European Partners (DI), James Halstead

INTERIM EX-DIVIDEND DATE

Aberdeen Frontier Markets Investment Company, AJ Bell, Albion Technology & General VCT, Associated British Foods, AVI Global Trust , Aviva 8 3/4% Cumulative Irrd Preference 1, Blackrock Frontiers Investment Trust, Daily Mail and General Trust A (Non.V), easyHotel, General Accident 'A', Henderson European Focus Trust, Jersey Electricity 'A' Shares, Northern Venture Trust, Renew Holdings, SSP Group , Tharisa (DI), Topps Tiles, Urban&Civic , Victrex plc, Watkin Jones

QUARTERLY EX-DIVIDEND DATE

HICL Infrastructure , Honeycomb Investment Trust, Raven Property Group 6.5% Red Cnv Pref Shs NPV, Regional REIT Limited, RM Secured Direct Lending, UIL Limited (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Trade (US) (13:30)

Continuing Claims (US) (13:30)

ECB Interest Rate (EU) (12:45)

Factory Orders (GER) (07:00)

Gross Domestic Product (EU) (10:00)

Initial Jobless Claims (US) (13:30)

FINALS

Auto Trader Group , CMC Markets, First Property Group, Mitie Group, Stenprop Limited

SPECIAL EX-DIVIDEND DATE

Marshalls, RM Secured Direct Lending, Taylor Wimpey, U And I Group

AGMS

Aurora Investment Trust, Coro Energy, Creo Medical Group, Hochschild Mining, Honeycomb Investment Trust, Invesco Perpetual UK Smaller Companies Inv Trust, IQ-AI Limited, P2P Global Investments, RHI Magnesita N.V. (DI), Safestay, Scisys Group, Telit Communications, TP Group, Xpediator

TRADING ANNOUNCEMENTS

Go-Ahead Group, Joules Group

UK ECONOMIC ANNOUNCEMENTS

Halifax House Price Index (08:30)

FINAL DIVIDEND PAYMENT DATE

Legal & General Group, Macfarlane Group, McColl's Retail Group , Smart Metering Systems, Total Produce, Weir Group, William Hill

FINAL EX-DIVIDEND DATE

Air Partner, Anglo-Eastern Plantations, Animalcare Group, Applegreen, Arrow Global Group, ASA International Group , Billington Holdings, Christie Group, Flowtech Fluidpower, Headlam Group, Johnson Matthey, Judges Scientific, Kingfisher, Learning Technologies Group , London Security, M&C Saatchi, Marshalls, Phoenix Spree Deutschland Limited Shs NPV , Restaurant Group, Restore, Rotala, Sainsbury (J), Scottish Mortgage Inv Trust, SIG, Spectra Systems Corporation, Synthomer, TBC Bank Group, Telford Homes, Vodafone Group, Volta Finance Limited NPV (GBP), Young & Co's Brewery 'A' Shares

Friday June 07

INTERIM DIVIDEND PAYMENT DATE

Gresham House Energy Storage Fund

QUARTERLY PAYMENT DATE

Civitas Social Housing

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Trade (GER) (07:00)

Consumer Credit (US) (20:00)

Current Account (GER) (07:00)

Factory Orders (GER) (07:00)

Industrial Production (GER) (07:00)

Non-Farm Payrolls (US) (13:30)

Unemployment Rate (US) (13:30)

Wholesales Inventories (US) (17:00)

SPECIAL DIVIDEND PAYMENT DATE

Bodycote

AGMS

Camellia, Camellia, Circassia Pharmaceuticals, Glenveagh Properties, Golden Rock Global, Telefonica SA (CDI)

FINAL DIVIDEND PAYMENT DATE

Barr (A.G.), Bodycote, Derwent London, Eddie Stobart Logistics , Ibstock , Integrated Diagnostics Holdings, Irish Continental Group Units, Non-Standard Finance, Ocean Wilsons Holdings Ltd., Porvair, Reach, RTC Group, Seneca Growth Capital Vct, SThree




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