Weekly Outlook: 2017, April 30 - May 07

US Manufacturing data, Crude Oil Inventories, Employment figures from New Zealand, Canada as well as the important US NFP report, Rate decision in Australia, New Zealand, and the US, Speeches from Janet Yellen, Mario Draghi and Stephen Poloz. These are the highlights on forex calendar.

1. US ISM Manufacturing PMI: Monday, 15:00. The manufacturing index is expected to register 56.6 in April.
2. Australian rate decision: Tuesday, 5:30. Policymakers believe the cash rate will remained unchanged for the rest of this year.
3. New Zealand employment data: Tuesday, 23:45. NZ job growth is expected to reach 0.8% and the unemployment rate is expected to decline to 5.1%.
4. US ADP Non-Farm Employment Change: Wednesday, 13:15. The ADP reading is estimated to show a jobs gain of 178,000 during April.
5. US ISM Non-Manufacturing PMI: Wednesday, 15:00. US service sector is expected to improve to 56.1 this time.
6. US Crude Oil Inventories: Wednesday, 15:30.
7. US Federal Funds Rate: Wednesday, 19:00. The Fed is not expected to change rates this time.
8. US Unemployment Claims: Thursday, 13:30. The number of new jobless claims is expected to register 246,000 this week.
9. Mario Draghi speaks: Thursday, 17:30. ECB President Mario Draghi will speak in Switzerland.
10. Canadian employment data: Friday, 13:30. Canadian employment market is expected to show a job creation of 20,000 with 6.7% unemployment rate.
11. US Non-Farm Payrolls and Unemployment rate: Friday, 13:30. The NFP for April is expected to register 194,000 new jobs in April.
12. Janet Yellen speaks: Friday 18:30. Federal Reserve Chair Janet Yellen will speak in Providence about Women’s Participation in the Economy.

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EUR/USD jumped higher on the favorable results of the French elections. PMI and GDP data stand out in the first week of May, in the run up to the second round of the French elections.

1. Manufacturing PMIs: Tuesday morning: 7:!5 in Spain, 7:45 in Italy, final French data at 7:50, final German figures at 7:55 and final euro-zone data at 8:00.
2. German Unemployment Change: Tuesday, 7:55.
3. Unemployment Rate: Tuesday, 9:00.
4. Spanish Unemployment Change: Wednesday, 7:00.
5. PPI: Wednesday, 9:00.
6. Services PMI: Thursday, morning: 7:!5 in Spain, 7:45 in Italy, final French data at 7:50, final German figures at 7:55 and final euro-zone data at 8:00.
7. Retail PMI: Thursday, 8:10.
8. Retail Sales: Thursday, 9:00.
9. French Trade Balance: Friday, 6:45.

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