Week Ahead: Apple Developers, May Jobs, Euro Interest Rates
These are just three of the big questions investors will get answers to
this coming week, which also brings other economic news and indicators
including updates on US manufacturing, factory orders, vehicle sales,
service industries and also the Federal Reserve’s “Beige Book”
outlining economic conditions in the Fed system’s 12 regions.
Monday sees the start of Apple’s much anticipated Worldwide Developers
Conference in San Francisco, with Apple watchers agog for news on
anticipated software updates and any morsels of information about the
new Healthbook app, any plans for an Apple “smart home,” as well as
further news on its acquisition of Beats Electronics and Beats Music.
Apple aficionados are not expecting any blockbuster announcements
like a new Mac, MacBook, Apple TV, iPhone, iPad or even an iWatch — but
this is a company that can surprise.
Apple’s stock has soared more than 25 per cent since late January,
giving it a monster stock market value of roughly $545 billion — so any
information that affects its share price is massive news on Wall Street.
Apple’s shares are trading around $633 — so high that the stock will be split 7-for-1 starting on Friday.
Monday also brings updates on May’s US manufacturing activity from the
Institute for Supply Management, construction spending, a planned US
Federal debt sale, and a speech by Chicago Fed president Charles Evans.
Tuesday sees updates on US vehicle sales for May, factory orders for
April, earnings from Dollar General , and a speech by Kansas City Fed
president Esther George.
Wednesday brings news on May’s activity in US service industries, the
biggest part of the economy, the Federal Reserve’s “Beige Book”
business survey from the Fed’s 12 regional banks, and ADP’s private
sector employment report ahead of the big jobs news on Friday.
Thursday will see decisions on interest rates by the European Central
Bank and the Bank of England. Some economists expect the ECB to cut
its deposit rate even further and even lay out a framework for asset
purchases in the future.
Friday brings a speech by Fed governor Jerome Powell and the big economic news of the week with the US jobs report for May.
Analysts are expecting more than 200,000 jobs to have been created
for the fourth month in a row — rough estimates are for about 225,000
jobs, down from April but good enough to keep markets happy.
2014-06-02 01:30 GMT (or 03:30 MQ MT5 time) | [AUD - Building Approvals]
if actual > forecast = good for currency (for EUR in our case)
AUD - Building Approvals = Change in the number of new building approvals issued. It's an excellent gauge of future construction activity because
obtaining government approval is among the first steps in constructing a
new building. Construction is important because it produces a
wide-reaching ripple effect - for example, jobs are created for the
construction workers, subcontractors and inspectors are hired, and
various services are purchased by the builder.
Australia Building Approvals Tumble 5.6% In April
The total number of building approvals issued in Australia in April
was down a seasonally adjusted 5.6 percent on month, the Australian
Bureau of Statistics said on Monday, standing at 14,931.
That was well shy of forecasts for an increase of 2.0 percent following the 3.5 percent contraction in March.
a yearly basis, building approvals were up 1.1 percent - far short of
expectations for 12.3 percent and down from 20.0 percent in the previous
The number of approvals for private sector houses eased
0.3 percent on month but gained 16.5 percent on year to 9.254. Approvals
for private sector dwellings excluding houses plunged 14.0 percent on
month and 16.6 percent on year to 5,435.
2014-06-02 07:00 GMT (or 09:00 MQ MT5 time) | [USD - Fed's Evans Speech]
if actual > forecast = good for currency (for USD in our case)
USD - Fed's Evans Speech = Charles L. Evans is the ninth president and chief executive officer of the Federal Reserve Bank of Chicago.
In that capacity, he serves on the Federal Open Market Committee
(FOMC), the Federal Reserve System's monetary policy-making body.
Federal Reserve Bank of Chicago President Charles Evans provided his
perspective on monetary policy at a macroeconomics workshop in Turkey.
2014-06-02 14:00 GMT (or 16:00 MQ MT5 time) | [USD - ISM Manufacturing PMI]
USD - ISM Manufacturing PMI = Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry. It's a leading indicator of economic health - businesses react quickly
to market conditions, and their purchasing managers hold perhaps the
most current and relevant insight into the company's view of the economy.