Watch Out For US Nonfarm Payrolls This Week

Last week, Minutes from the Fed May meeting showed that most participants believed 50 basis-point hikes would be appropriate at the June and July policy meetings, but many thought big, early hikes would allow room to pause later in the year to assess the effects of that policy tightening.

U.S. consumers kept spending in April, amid fresh signs that, at least in annual terms, inflation may have peaked for the current cycle.

The European Central Bank should consider kicking off its interest-rate hiking cycle with a half-point increase to convince people that it serious about fighting inflation, according to Governing Council member Robert Holzmann

In the upcoming week, the US Jobs Report will be announced on Friday. US Nonfarm Payrolls are expected to rise 320,000 jobs in May, slowing from 428,000 in April. While still firm it would represent the smallest jobs growth in around a year. The Unemployment Rate is expected to moved down to 3.5%.

Moreover, the economic calendar features data on private sector hiring, JOLTS job openings, initial jobless claims and ISM data on manufacturing and service sector activity.

In the Eurozone Area, the inflation data will be released on Tuesday, with economists expecting the consumer price index to hit another record high of 7.7% in May, up from 7.4% in April.

30 May 22 (Mon)

05:44 am