Key international financial events this week include: the US April Non-Agricultural Report, ISM April Manufacturing PMI, OPEC+ Ministerial Conference, and Huawei Hongmeng Product Presentation. Among them, the market pays the most attention to the US April Non-Agricultural Report.
Trader’s Notes This Week (0531-0604)
1. U.S. April non-agricultural:
On Friday (4th) the United States will announce the May non-agricultural employment report. The market predicts that the new non-agricultural employment in the United States in May will rebound sharply to 663,000, surpassing the previous value of 266,000, and the unemployment rate is expected to shrink further To 5.9%.
According to market analysis, the sluggish performance of new non-agricultural employment in the United States in April was mainly due to the fact that the White House government issued a large amount of cash subsidies of US$2,000 in March and April, which delayed the employment desire of the American people, and a sharp rebound is expected in May.
2. ISM Manufacturing PMI in April:
On Tuesday (1st), the Institute of Supply Management (ISM) will announce the ISM manufacturing PMI for May. The market expects that the ISM manufacturing PMI will rise to 61.0 in May, showing continued strong performance.
Market economists are optimistic that with the expansion of the new crown vaccination in the United States, the US states will accelerate the lifting of the epidemic blockade and the real economy’s consumer demand will rebound. They are optimistic that the strong expansion of the US economy will continue at least until the end of the year.
3. OPEC+ Ministerial Conference:
On Tuesday (1st) OPEC+ will hold its 17th ministerial meeting. The market expects that OPEC+ will determine to increase the supply of crude oil, but more importantly for the market is whether OPEC+ will give instructions on the crude oil strategic plan for the next quarter.
4. Huawei Hongmeng product launch conference:
On Wednesday (2nd), Huawei will hold a Hongmeng product launch. The market predicts that the Hongmeng operating system, which was previously only used for smart screens, wearable devices and other products, will be used on more products.