Market News Report: May 4 – May 8, 2020

But Friday’s ISM Manufacturing PMI number was an exception, as it slightly surpassed forecasts. The markets went risk-off in the middle of last week. Will we get a meaningful downward correction? This week the markets will await Friday’s U.S. monthly jobs data release.

The week behind

Last week’s Wednesday’s FOMC Interest Rate and Monetary Policy update release wasn’t much of a game-changer for the markets. And the other economic data releases have basically confirmed the coronavirus negative impact on global economies again. Tuesday’s CB Consumer Confidence, Wednesday’s Advance GDP, Thursday’s Chicago PMI were all worse than expected. However, Friday’s ISM Manufacturing PMI has been slightly better than expected.

The week ahead

What about the coming week? The markets’ attention will certainly focus on Friday’s U.S. Nonfarm Payrolls and the Unemployment Rate release. On Tuesday we will get the ISM Non-Manufacturing PMI, on Wednesday the ADP Non-Farm Employment Change and on Thursday the Unemployment Claims will be released. Forex traders will be waiting for Tuesday’s and Thursday’s monetary policy updates in Australia, Friday’s monthly jobs data from Canada and Thursday’s Bank of England’s Monetary Policy Report release. Let’s take a look at key highlights:

• On Friday we will get the important monthly jobs data release: Nonfarm Payrolls along with the Unemployment Rate.
• The other important U.S. economic data releases this week include ISM Non-Manufacturing PMI, ADP Non-Farm Employment Change and the Unemployment Claims.
• We will also get some important economic news releases from Australia, Canada and the U.K. this week.
• Oil traders will also await Tuesday’s and Wednesday’s inventories data release.

You will find this week’s the key news releases below (EST time zone). For your convenience, we broken them down per market to which they are particularly important, so that you know what to pay extra attention to, if you have or plan to have positions in one of them. Moreover, we put the particularly important news in bold.

This kind of news is what is more likely to trigger volatile movements. The news that are not in bold usually don’t result in bigger intraday moves, so unless one is engaging in a particularly active form of day trading, it might be best to focus on the news that we put in bold. Of course, you are free to use the below indications as you see fit. As far as we are concerned, we are usually not engaging in any day trading during days with “bold” events on a given market. However, in case of more medium-term trades, we usually choose to be aware of the increased intraday volatility, but not change the currently opened position.

Our Market News Report consists of two different time-related perspectives. The investors’ perspective is only suitable for the long-term investments. The single economic data releases rarely cause major outlook changes. Hence, we will only see a handful of bold markings every week. On the other hand, the traders’ perspective is for traders and day-traders, because the assets’ prices are likely to react on a single piece of economic data. So, there will be a lot more bold markings on potentially market-moving news every week.

Investors’ Perspective

Economic Calendar

Gold, Silver, and Mining Stocks

Tuesday, May 5

• 10:00 a.m. U.S. – ISM Non-Manufacturing PMI

Wednesday, May 6

• 8:15 a.m. U.S. – ADP Non-Farm Employment Change

Thursday, May 7

• 8:30 a.m. U.S. – Unemployment Claims

Friday, May 8

• 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m

Crude Oil

Tuesday, May 5

• 10:00 a.m. U.S. – ISM Non-Manufacturing PMI
• 4:30 p.m. U.S. – API Weekly Crude Oil Stock

Wednesday, May 6

• 8:15 a.m. U.S. – ADP Non-Farm Employment Change

Thursday, May 7

• 8:30 a.m. U.S. – Unemployment Claims
• 10:30 a.m. U.S. – Crude Oil Inventories

Friday, May 8

• 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m

Stock Markets

Tuesday, May 5

• 10:00 a.m. U.S. – ISM Non-Manufacturing PMI

Wednesday, May 6

• 8:15 a.m. U.S. – ADP Non-Farm Employment Change

Thursday, May 7

• 8:30 a.m. U.S. – Unemployment Claims

Friday, May 8

• 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m

EUR/USD

Tuesday, May 5

• 10:00 a.m. U.S. – ISM Non-Manufacturing PMI

Wednesday, May 6

• 8:15 a.m. U.S. – ADP Non-Farm Employment Change

Thursday, May 7

• 8:30 a.m. U.S. – Unemployment Claims

Friday, May 8

• 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m

USD/JPY

Friday, May 8

• 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m

GBP/USD

Tuesday, May 5

• 4:30 a.m. U.K. – Final Services PMI

Wednesday, May 6

• 4:30 a.m. U.K. – Construction PMI

Thursday, May 7

• 2:00 a.m. U.K. – BOE Monetary Policy Report, MPC Official Bank Rate Votes, Monetary Policy Summary, Official Bank Rate

Friday, May 8

• 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m

USD/CAD

Tuesday, May 5

• 8:30 a.m. Canada – Trade Balance
• 10:00 a.m. U.S. – ISM Non-Manufacturing PMI

Wednesday, May 6

• 8:15 a.m. U.S. – ADP Non-Farm Employment Change

Thursday, May 7

• 8:30 a.m. U.S. – Unemployment Claims
• 10:00 a.m. Canada – Ivey PMI

Friday, May 8

• 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m
• 8:30 a.m. Canada – Employment Change, Unemployment Rate

AUD/USD

Tuesday, May 5

• 12:30 a.m. Australia – Cash Rate, RBA Rate Statement

Wednesday, May 6

• 9:30 p.m. Australia – Trade Balance

Thursday, May 7

• 9:30 p.m. Australia – RBA Monetary Policy Statement

Friday, May 8

• 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m

Summing up

The financial markets will likely continue to react to news about globally spreading coronavirus in the near future. However, if you’re an investor and not a trader, you should pay extra attention to Friday’s U.S. monthly jobs report release. In addition, series of other economic releases may show further virus impact on the U.S. economy this week.

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Market News Report – this analysis’ full version. The full Alert includes also the Traders’ Perspective which is very useful for the people who trade within shorter time frames. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

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Thank you.

Paul Rejczak
Stock Trading Strategist
Sunshine Profits – Effective Investments through Diligence and Care

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Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.