Daily Economic Calendar – June 1, 2017

Thursday is the Manufacturing PMIs day, so let’s take a closer look with the economic calendar.
The first item on the schedule comes at 6 AM, and it’s the UK Nationwide House Price Index for May. Home prices have been declining on a monthly basis for the past two months; moreover, the annual growth in April was the weakest in 4 years.

Swiss Retail Sales for April are out at 7:15. Now, the March report surprised strongly on the upside as sales saw the strongest growth since 2014.
Swiss May Manufacturing PMI follows 15 minutes later. The Index slipped in April, but it remains well in the positive territory.
The final reading of Euro Zone Manufacturing PMI for May will be available at 8, and it is expected to confirm the initial estimate which puts the Index at a 6 year high.
UK Manufacturing PMI for May is released at half past 8. The Index surged by no less than 3.1 points in April as output, new orders and exports all picked up speed.
Coming up next at 12:15 PM GMT is the US ADP Employment Change for May. Jobs growth was slightly smaller than anticipated in April, but that followed 3 months of exceptionally strong performance.
The closely watched weekly update on US Jobless Claims is out at half past noon, and the previous report did note a small uptick in both the initial and continuing claims; however, the 4-week moving averages went down and, indeed, now stand at their lowest level since early 1970ies.
Canadian Manufacturing PMI for May follows at half past 1. The Index has been growing for the past 7 months and now stands at a 6 year high.
The high importance US ISM Manufacturing PMI for May will be available at 2. Now, the April report was a bit of a disappointment as the Index lost 2.4 points; a slight increase in output was reversed by drops in new orders and employment.
US Construction Spending for April is out at the same time. Spending eased in March, having grown by 1.8% the previous month.
There’s little on the schedule until 1 AM, when Australian New Home Sales for April are released. Sales slipped in March, fully reversing the point 2% increase posted a month ago.
And Japanese Consumer Confidence for May is out at 5. The Index lost point 7 points in April, having risen to a 4 year high the previous month.