Welcome to Extreme Investor Network! Today, we are diving into the latest insights on the stock market, trading, and upcoming events that will impact investors in the coming week.
Unemployment numbers are expected to hold steady at 3.9%, with a slight range of 3.8% to 4.0%. Wage growth is also projected to see a moderate increase from +0.2% to +0.3% between April and May, maintaining a year-over-year growth rate of +3.9%.
In addition to these key indicators, there are several important events on the horizon that investors should keep an eye on. The US ISM manufacturing PMI will be released on Monday, followed by US JOLTs data on Tuesday. Wednesday is packed with significant events, including the Bank of Canada (BoC) rate decision, Aussie GDP growth figures, the US ADP non-farm employment number, and the US ISM services PMI.
One major highlight of the week is the potential rate cuts from two central banks – the Bank of Canada (BoC) and the European Central Bank (ECB). The BoC is widely expected to cut rates by 25bps on Wednesday due to cooling inflation and a softening labor market. The latest data print for economic activity in Canada showed slower growth than expected, further supporting the case for a rate cut.
On Thursday, the spotlight shifts to the ECB, where a 25bp cut is largely anticipated. While the rate cut seems imminent, the focus will be on ECB President Christine Lagarde’s press conference and the ECB’s new Staff Projections for insight into future rate cuts.
With all eyes on these central banks and their policy decisions, investors should stay informed and be prepared for potential market-moving events. Stay tuned to Extreme Investor Network for the latest updates and analysis on the stock market and trading landscape. Happy investing!