What to Expect This Week

This week, in the United States, labor data will be in focus. It is likely that payrolls will post a sizable gain for April and unemployment rate drop to 9.6% boosted by hiring for the 2010 census but also by private services. Also, we are looking for another gain in the Institute for Supply Management (ISM) Manufacturing Survey as new orders and production picked up recently. In addition, personal income and consumption may increase.
TradingEconomics.com 5/1/2010 11:27:04 PM

In the Euro Area, Greece's struggle to obtain bailout from other members of the single currency zone is likely to keep taking center stage. Moreover, the European Central Bank meets on Thursday. We don't expect any changes in the current monetary policy since the bank is still focused on finding a way to help Greece in overcoming its fiscal problems. In the United Kingdom, the general election will take place on May 6. The conservatives have the lead in polls and Gordon Brown will probably lose his job. In Canada, employment is projected to increase in April at least by 20K. Yet, the unemployment rate may stay stable at 8.2% as more people feel confident and look for jobs. Finally, in Australia, another 25bp hike is likely since the economy is growing faster than had been anticipated.