May 4, 2021
March’s PMI printed at 64.7. The consensus forecast for April is 64.9.
Possible influence: Volatile US Dollar, Gold and US Stocks
Bank of England expected to leave rates unchanged at their current rate of 0.10%.
Possible Influence: Volatile GBPUSD
The Unemployment rate for March was 6.0%. It is expected to fall to 5.8% in April. Non-Farm Payrolls are expected to print up 980,000 for April, up from a rise of 780,000 in March.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Core CPI (excluding food and energy) was 0.6%, Month-over-Month in March. CPI for March was 0.3%, Month-over-Month. April’s numbers are expected to come in at 0.4% and 0.2% respectively.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Retail Sales rose 9.8%, Month-over-Month, in March. They are forecast to rise 3.0%, Month-over-Month in April.
Possible Influence: Volatile US Dollar, Gold and US Stocks
The United States will post the second reading of its 1st Quarter of 2021 GDP results. The first reading was up 6.4%, Quarter-over-Quarter. The 4th Quarter of 2020 saw GDP rise 4.3%, Quarter-over-Quarter.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Earnings season continues in May. Some of the major companies scheduled to report their quarterly earnings in May are Berkshire Hathaway, Moderna, Uber, Ferrari, Virgin Galactic, Disney, AirBnB, Walmart, Paypal, Tilray, Alibaba, and Nvidia.
Possible Influence: US Stocks and Indices
President Biden has put forward two different large spending proposals that could be debated in the U.S. Congress in May. They are his $2.3 trillion infrastructure bill and his $1.8 trillion family act. Both proposals face resistance from the Republicans and even some members of his own party. He will need every Democrat on board to have a chance at passing these massive spending and tax bills.
Possible Influence: Volatile US Stocks and Indices, Global Stocks and Indices, Commodities, Currencies
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