The Week Ahead: 31st May – 4th June 2021

Overview for the Week Ahead

The upcoming week will start out quiet for the markets due to the Memorial Day holiday, but will ramp up as investors are hit with a wave of economic data including ADP employment, non-farm payrolls and the Beige Book and earnings from big names like Zoom, Advanced Auto Parts, Express and Slack. 

The Fed’s beige book on the economy is due out on Wednesday and several Federal Reserve officials are scheduled to speak during the week, including Chair Jerome Powell. The Fed Chair will participate in a panel at a climate change conference on Friday together with International Monetary Fund chief Kristalina Georgieva and European Central Bank President Christine Lagarde. 

One of the biggest cryptocurrency events of the year, the 2021 Bitcoin conference, will also take the spotlight later this week.  Cryptocurrencies will also dominate market headlines on Thursday as the 2021 Bitcoin conference kicks off in Miami. The event, which runs through Saturday, will include appearances by Twitter CEO Jack Dorsey, MicroStrategy CEO Michael Saylor, venture capitalist Chamath Palihapitiya, Republican Sen. Cynthia Lummis of Wyoming, former Pennsylvania Republican Congressman Ron Paul, celebrity skateboarder Tony Hawk, and cryptologist and legal scholar Nick Szabo. 

This as the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite are sitting near record highs. 

Energy traders will be eyeing Tuesday’s OPEC+ meeting and the euro zone is to release inflation data against a backdrop of concerns over what rising price pressures could mean for expansionary monetary policy. 

Since OPEC+ decided to taper cuts by 2.1 million barrels per day in April, oil has extended its 2021 rally and is currently up over 30% and closing in on $70 a barrel. 

Concerns over a possible increase in supply from Iran have capped oils gains. 

This Week’s High Impact Events 

The times below are GMT+3.

Monday 31st May 

  • US Memorial Day & UK Spring Bank Holiday 

No high impact events today 

Tuesday 1st June 

  • 07.30 – Australia – RBA Rate Statement & Cash Rate 

Potential instruments to Trade: AUD Crosses. 

  • 10.55 – Europe – Final Manufacturing PMI & Unemployment Change 

Potential instruments to Trade: EUR Crosses. 

  • 12.00 – Europe – CPI & Core CPI Flash Estimate & Unemployment Rate 

Potential instruments to Trade: EUR Crosses. 

  • All-Day – OPEC-JMMC Meetings 

Potential instruments to Trade: All Currency Crosses. 

  • 17.00 – US – ISM Manufacturing PMI 

Potential instruments to Trade: USD Crosses. 

  • 18.00 – UK – BoE Gov. Bailey Speaks 

Potential instruments to Trade: GBP Crosses. 

  • 21.00 – US – FOMC Member Brainard Speaks 

Potential instruments to Trade: USD Crosses. 

Wednesday 2nd June 

  • 04.30 – Australia – GDP q/q 

Potential instruments to Trade: AUD Crosses. 

  • 12.00 – Australia – BA Deputy Gov. Debelle Speaks 

Potential instruments to Trade: AUD Crosses.  

Thursday 3rd June 

  • 04.30 – Australia – Retail Sales m/m 

Potential instruments to Trade: AUD Crosses.  

  • 15.15 – US – ADP Non-Farm Employment Change 

Potential instruments to Trade: USD Crosses.  

  • 15.30 – US – Unemployment Claims 

Potential instruments to Trade: USD Crosses.  

  • 17.00 – US – ISM Services PMI 

Potential instruments to Trade: USD Crosses.  

  • 18.00 – US – Crude Oil Inventories 

Potential instruments to Trade: USD & CAD Crosses.  

  • 19.00 – UK – BoE Gov. Bailey Speaks 

Potential instruments to Trade: GBP Crosses.  

Friday 4th June 

  • 10.00 – CHF – SNB Chairman Jordan Speaks 

Potential instruments to Trade: CHF Crosses. 

  • 10.00 – New Zealand – RBNZ Gov. Orr Speaks 

Potential instruments to Trade: NZD Crosses. 

  • 14.00 – Europe – ECB President Lagarde Speaks 

Potential instruments to Trade: EUR Crosses. 

  • 14.00 – US – Fed Chair Powell Speaks 

Potential instruments to Trade: USD Crosses. 

  • 15.30 – Canada – Employment Change & Unemployment Rate 

Potential instruments to Trade: CAD Crosses. 

  • 15.30 – US – Average Hourly Earnings m/m, Non-Farm Employment Change, & Unemployment Rate 

Potential instruments to Trade: USD Crosses. 

  • 17.00 – Canada – Ivey PMI 

Potential instruments to Trade: CAD Crosses. 

If you have any questions, please email our Education Centre.

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

We are Errante. Trading made personal.

Errante is the trading name used by Notely Trading Ltd, an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number [383/20]. Errante is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.

To find out more about Errante, visit https://errante.eu.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 33.33% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Read our Risk Disclosure.

Get started for free

Create Account
×

Search