Headlines the Economic Calendar on Monday
US Nonfarm Payrolls rose by 223K in May. The data was higher than the consensus estimate for the creation of 189K jobs. The unemployment rate surprised us and it fell from 3.9% to 3.8%. Also, Average hourly earnings advanced 0.3% month-on-month in May, above expectations for a 0.2% gain.
Last week's biggest news was that the US imposed new 25% tariffs on steel and 10% tariffs on aluminum imported from the Eurozone, Canada, and Mexico after temporary exemptions expired. The market has not yet shown a big reaction to the US decision, but global trade tensions and fears are in the spotlight.
All eyes will be on US President Donald Trump in the upcoming week. He will meet world leaders at the G7 summit in Canada from June 8-9. The G7 group’s members include; Canada, Germany, France, Italy, Japan, the UK, and the US. They will meet to discuss harmonized growth and the current state of the global economic system.
Among the US data on Durable Goods Orders, ISM Non-Manufacturing PMI, JOLTs Job Openings as well as Trade Balance will be closely followed by investors this week.
04 Jun 18 (Mon)
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