Key data releases this week will be the US April jobs report and the University of Michigan’s consumer survey. Other economic events feature the US Treasury quarterly refunding announcement and rate decisions in Australia, Norway and Sweden. Corporate earnings include AMD, Palantir and Rheinmetall.

The focus this week will be on the US April jobs report due Friday. Economists see payrolls up +65k in April, down from +178k in March, with aslightly faster earnings growth rate (+0.3% vs +0.2% in March) and a stable unemployment rate (4.3%). Other labor market indicators due will include the JOLTS report on Tuesday and the ADP report on Wednesday.

Elsewhere, US indicators will include the University of Michigan’s consumer survey for May on Friday (our US economists forecast some rebound in sentiment from 47.6 in April to 52.2), the ISM services index on Tuesday and Q1 non-farm productivity data on Thursday. Rounding out US events, there will also be the quarterly US Treasury refunding announcement on Wednesday.

From central banks, policy rate decisions will be due from the Reserve Bank of Australia on Tuesday (expect a hike) and Sweden’s Riksbank andNorway’s Norges on Thursday. There will also be plenty of speakers from the Fed and the ECB.

European indicators next week will include the April CPI reports in Switzerland (Tuesday) and Sweden (Wednesday), as well as March industrial production, factory orders and trade in Germany. In politics, the focus will be on the local elections in the UK on Thursday.

Elsewhere, there will be an OPEC+ meeting this Sunday. Finally, the busy corporate earnings schedule continues with highlights including tech names Palantir, AMD and CoreWeave and big consumer stocks Walt Disney and McDonald’s, amongst others. Defence firms Rheinmetall and Leonardo will also be in focus. Other notable European firms releasing results feature Shell, Ferrari and AB InBev. In Japan, the list includes Toyota, Sony and Nintendo.

Courtesy of DB, here is a day-by-day calendar of events

Finally, looking at just the US, the key economic data release this week is the employment report on Friday. There are several speaking engagements by Fed officials this week, including events with Vice Chair for Supervision Bowman and Governor Barr on Tuesday and Governor Cook on Friday.

Source: ZeroHedge News