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30 May 2021
3 min read

Economic Calendar Updates – 30/05

Economic Calendar Updates

*OspreyFX would like to state that traders should research extensively before following any information given hereby. Any assumptions made in this article are provided solely for entertainment purposes and not for traders to guide or alter their positions. Please read our Terms & Conditions and Risk Disclosure for more information.

Key Takeaways

  • Stock trading on Monday will be closed in the US and the UK due to holiday breaks
  • Friday brings the most important US data: non-farm payrolls and unemployment rate

The week starting Monday, May 31, brings significant and insightful data from the world’s economies, particularly the UK and the US. Both countries kickstart the week a day later, on Tuesday, due to their respective holidays on Monday.

The US celebrates Memorial Day on Monday, and the stock market, alongside the bond market, will be closed. Stock markets, including the Dow Jones, NASDAQ, and the NYSE will not be active. Trading on the exchanges will resume as usual on Tuesday, June 1. UK traders and investors also pause their stock trading activities on Monday in observance of the Spring Bank Holiday, also known as the Late May Bank Holiday.

Tuesday comes with a string of events as soon as the first hour of the day arrives. At 12:30 am EST, the Reserve Bank of Australia will announce its interest rate decision for June. The central bank of Australia is expected to leave the interest rate unchanged at 0.10%.

Investors Await NFP Data

At 03:55 am EST, Germany will publish its manufacturing PMI report for May. At the same time, it will announce the German unemployment change, also for May. Later, at 04:30 am EST, the UK announces its manufacturing PMI data for May. The Eurozone follows at 05:00 am EST with the latest CPI report on an annual basis. The number will indicate whether prices have risen in the twelve months to May.

At 08:30 am EST, Canada will announce its GDP data for March on a monthly basis. The US will reveal its ISM manufacturing PMI for May at 10:00 am EST. And Australia will announce its GDP data for the first quarter, on a quarterly basis, at 9:30 pm EST.

On Wednesday, Australia will report its latest retail sales data for April at 9:30 pm EST.

Thursday kicks in with UK’s Composite PMI and Services PMI data, both set for 04:30 am EST. Later, at 08:15 am EST, the US will announce its ADP nonfarm employment change for May. At 10:00 am EST, the US will publish the ISM non-manufacturing PMI numbers for May.

And Friday is reserved for UK’s Construction PMI data for May. The report arrives at 04:30 am EST. Later, at 08:30 am EST, the big news will take place. The US non-farm payrolls (NFP) and the unemployment rate for May. The NFP data will be closely monitored by traders and investors who will look to find out whether the US economic recovery remains strong and to the upside. The previous report was rather disappointing as investors and analysts expected new hires to reach close to one million. Instead, the US labor market had created 266,000 jobs in the economy for April.

Friday also brings the Canadian employment change for May at 08:30 am EST.

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