Week ahead: Manufacturing surveys, US jobs report in focus

27th May 2016 14:57

(ShareCast News) - Economic data over the coming holiday-shortened week will provide investors with further clues on the staying power of the US economic expansion and clues regarding the efficacy, or not, of the most recent monetary easing undertaken in China and in the euro area.To take note of, in a research note sent to clients on 26 May strategists at Bank of America-Merrill Lynch labelled the coming month "event risk June", what with both the Bank of Japan and US Federal Reserve set to decide on rates almost side-by-side mid-month - with the Brexit referendum looming ever larger on the horizon.Against that backdrop, and following Monday´s holidays in the UK and the US, traders will be greeted the next day by April figures on money supply growth and credit dynamics in the Eurozone.Data out that same day, on industrial production and unemployment in Japan, may also help to inform the debate regarding the need for further stimulus meaasures in the world´s third largest economy. Indeed, multiple media reports indicate that on or about the same date prime minister Shinzo Abe may announce that consumption tax hikes due to come into effect in April 2017 might be delayed.Nonetheless, the main release of the week will be Friday´s monthly jobs report in the US, which almost all market commentators agree will play a large role in the US central bank´s policy deliberations at their 15 June meeting.Somewhat ironically, a strike by workers at Verizon might make it even harder than usual to draw clear conclusions from the data.According to various estimates, industrial action at the telecoms giant is expected to subtract between 30,000 to 40,000 people from the monthly tally for US jobs.In a research report sent to clients on 27 May, Barclays´s Jesse Hurwitz conceded that, just as occured in August 2011, some of those lost jobs might be offset by the hiring of temporary help.Nonetheless, in the same note Hurwitz added: "It is difficult to estimate the degree of an offset from Verizon's temporary hiring given the lack of hard data, but we do not expect that the company has been able to offset as large a share of its striking workforce as in 2011. We maintain our forecast for May nonfarm payroll growth of 150k."Consultancy ADP´s monthly payrolls report, which is typically released on the Wednesday of each week, will be pushed out to Thursday due to the Memorial Day holiday. Manufacturing sector purchasing managers´ indices from all the major geographies, on Wednesday, and especially from China, will also be closely monitored by markets.Finally, OPEC is set to meet on Thursday.Monday 30 MayINTERIM DIVIDEND PAYMENT DATEInch Kenneth Kajang RubberINTERNATIONAL ECONOMIC ANNOUNCEMENTSBusiness Climate Indicator (EU) (10:00)Consumer Confidence Indicator (EU) (10:00)Economic Sentiment Indicator (EU) (10:00)Import Price Index (GER) (07:00)FINALSRenoldAGMSAeci 5 1/2% Prf, JSC Kazkommertsbank GDR (Reg S)FINAL EX-DIVIDEND DATEAir China Ltd., Kakuzi Ltd.Tuesday 31 MayINTERIMSIntelligent Energy HoldingsINTERIM DIVIDEND PAYMENT DATEInland Homes, McCarthy & Stone, Smart (J) & Co.QUARTERLY PAYMENT DATECity of London Inv Trust, Ediston Property Investment Company, TwentyFour Select Monthly Income Fund LimitedINTERNATIONAL ECONOMIC ANNOUNCEMENTSChicago PMI (US) (14:45)Consumer Confidence (US) (15:00)M3 Money Supply (EU) (09:00)Personal Consumption Expenditures (US) (13:30)Personal Income (US) (13:30)Personal Spending (US) (13:30)Retail Sales (GER) (07:00)Unemployment Rate (EU) (10:00)Unemployment Rate (GER) (08:55)FINALSAtlantis Resources Limited (DI), HaiKe Chemical Group Ltd. (DI), Kainos Group , RenoldANNUAL REPORTTechFinancials (DI)SPECIAL EX-DIVIDEND PAYMENT DATENetplay TVAGMSNord Gold NV GDR (Reg S), OJSC Phosagro GDR (Regs), Parity Group, Tethys Petroleum Ltd, XLMediaFINAL DIVIDEND PAYMENT DATEAction Hotels, Belvoir Lettings, Capita, Empresaria Group, F&C Private Equity Trust, Hastings Group Holdings , Henry Boot, Hostelworld Group , LLoyds Banking Group 9.25% Non-Cum Irredeemable Pref Shares, LLoyds Banking Group 9.75% Non-Cum Irredeemable Pref Shares, McColl's Retail Group , Mobeus Income & Growth Vct, NAHL Group, SeniorQ1Alpha Bank GDR (Reg S) USD, Avengardco Investments Public Ltd GDRWednesday 01 JuneINTERIMSFusionex InternationalQUARTERLY PAYMENT DATEJPMorgan Claverhouse Inv Trust, UnileverINTERNATIONAL ECONOMIC ANNOUNCEMENTSConstruction Spending (US) (15:00)ISM Manufacturing (US) (15:00)ISM Prices Paid (US) (15:00)MBA Mortgage Applications (US) (12:00)FINALSAcal, LondonMetric Property, Telford HomesANNUAL REPORTHalfords GroupIMSSWolseleyAGMSBarr (A.G.), EnQuest, Flowtech Fluidpower, Frontier Resources International, Infinity Energy S.A , Mears Group, Peel Hotels, Seplat Petroleum Development Company (DI)UK ECONOMIC ANNOUNCEMENTSBRC Shop Price Index (00:01)Consumer Credit (09:30)M4 Money Supply (09:30)Mortgage Approvals (09:30)Nationwide House Price Index (07:00)FINAL DIVIDEND PAYMENT DATEBAE Systems, London Stock Exchange Group, Mortgage Advice Bureau (Holdings) , Peel Hotels, Polypipe Group , RobinsonThursday 02 JuneINTERIM EX-DIVIDEND DATEA&J Mucklow Group, Associated British Foods, Blackrock Frontiers Investment Trust, Cardiff Property, Cerillion , Debenhams, easyHotel, Grainger, Greencore Group, Jersey Electricity 'A' Shares, Northern Venture Trust, Renew Holdings, SSP Group , Stride Gaming, Titon Holdings, Zoopla Property Group (WI)QUARTERLY EX-DIVIDEND DATEGLI Alternative Finance , Premier Energy & Water Trust, SQN Asset Finance Income Fund Limited C SHS NPV, UIL Limited (DI)INTERNATIONAL ECONOMIC ANNOUNCEMENTSContinuing Claims (US) (13:30)Crude Oil Inventories (US) (16:00)ECB Interest Rate (EU) (12:45)Initial Jobless Claims (US) (13:30)Producer Price Index (EU) (10:00)FINALSIomart Group, Johnson MattheySPECIAL EX-DIVIDEND PAYMENT DATEMarks & Spencer Group, Marshalls, Northern Venture Trust, Taylor WimpeyAGMSAdvanced Medical Solutions Group, Augean, Camellia, EKF Diagnostics Holdings , F&C Commercial Property Trust Ltd., Gama Aviation , Hygea VCT, International Public Partnerships Ltd., Invesco Perpetual UK Small Companies Inv Trust, Ruspetro, Shanta Gold Ltd., VPC Specialty Lending InvestmentsUK ECONOMIC ANNOUNCEMENTSPMI Construction (09:30)FINAL DIVIDEND PAYMENT DATECroda International, Mitsubhi Electric Corp., Smart Metering Systems, Toyota Motor Corp., TT ElectronicsFINAL EX-DIVIDEND DATEAberdeen New Thai Inv Trust, Augean, Billington Holdings, Flowtech Fluidpower, Gamma Communications, Great Portland Estates, Headlam Group, Hilton Food Group, HSS Hire Group , Inspired Energy, JPMorgan Euro Small Co. Trust, Keywords Studios, Laird, Marks & Spencer Group, Marshalls, Mckay Securities, Moss Bros Group, Nasstar, National Grid, Pacific Assets Trust, Powerflute Oyj (DI), RTC Group, Spire Healthcare Group, Staffline Group, SynthomerFriday 03 JuneINTERIM DIVIDEND PAYMENT DATEBaronsmead Second Venture Trust, Baronsmead VCT 5, DX (Group), Focusrite, Games Workshop Group, James Halstead, Sage GroupINTERIM EX-DIVIDEND DATEDFS FurnitureQUARTERLY PAYMENT DATEBoeing Co, Toro LimitedINTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Trade (US) (13:30)Factory Orders (US) (15:00)ISM Non-Manufacturing (US) (15:00)Non-Farm Payrolls (US) (13:30)Retail Sales (EU) (10:00)Unemployment Rate (US) (13:30)SPECIAL DIVIDEND PAYMENT DATEAdmiral Group, Bodycote, FDM Group (Holdings)AGMSAfrica Opportunity Fund Limited, CityFibre Infrastructure Holdings , Edenville Energy , ICG-Longbow Senior Secured UK Property Debt Investments Ltd, MoneySwap, NMC Health, North American Income Trust (The), Novolipetsk Steel GDS (Reg S), TCS Group Holding GDR (Each Repr 1 A Shr) (Reg S)FINAL DIVIDEND PAYMENT DATEAcencia Debt Strategies Ltd., Admiral Group, Bodycote, Clarkson, FDM Group (Holdings), Globaldata, H&T Group, Highcroft Investment, Ibstock , Intertek Group, Invesco Perpetual UK Small Companies Inv Trust, Konami Holdings Corporation, Lookers, Microgen, Ocean Wilsons Holdings Ltd., Playtech, Porvair, Rightmove, SDL, SThree, William Hill