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May 29, 2022

Economic Calendar: May 30 – June 3

Monday, May 30

Japan machine tool orders for April.

Euro area economic and consumer confidence readings for May.

Germany consumer price index for May and April retail sales.

(830 am ET) Canada’s current account balance for the first quarter. Consensus is for a surplus of $3.2-billion.

U.S. markets closed for Memorial Day.

Tuesday, May 31

China Purchasing Managers’ Indexes for May. The manufacturing index is expected to see a reading of 49, and non-manufacturing 45 – both signifying contraction.

Japan jobless rate, retail sales, industrial production and consumer confidence.

Euro area consumer price index for May. It’s expected to rise 7.7% from a year earlier, up from April’s reading of 7.4%.

Germany unemployment; France CPI, GDP and consumer spending. Italy also releases GDP and CPI.

(830 am ET) Canada real GDP for the first quarter. The economy is expected to have expanded at a 5.2% annual rate. For March, GDP is expected to have risen 0.5%.

(9 am ET) S&P Corelogic Case-Shiller 20-city Home Price Index. Consensus is for a year-over-year rise of 19.7%. FHFA housing price index also to be released.

(945 am ET) Chicago PMI.

(10 am ET) Conference Board Consumer Confidence Index for May. It’s expected to decline to 103.5 from April’s 107.3.

Earnings include: HP Inc.; Inc.

Wednesday, June 1

China Caixin manufacturing PMI. Japan releases PMI numbers as well as first-quarter capital spending.

Euro area releases manufacturing PMI for May, forecast at 54.4 – signifying expansion. Euro area also releases jobless rates. UK releases PMI and housing price data.

(930 am ET) Canada S&P global manufacturing PMI.

(10 am ET) Bank of Canada policy announcement. An interest rate hike of 50 basis points is widely expected.

(945/10am) Manufacturing indexes released in the U.S.

(10 am ET) U.S. construction spending for April. Consensus is for a rise of 0.6%.

(10 am ET) U.S. job openings and labor turnover survey for April.

(2 pm ET) U.S. Beige book released on economic conditions.

North American auto sales for May.

Earnings include: Algoma Steel Group Inc.; Canaccord Genuity Group Inc.; Descartes Systems Group Inc.; Hewlett Packard Enterprise Co; HIVE Blockchain Technologies Ltd.; Laurentian Bank of Canada; Nio Inc.; Sprott Physical Gold and Silver Trust

Thursday, June 2

OPEC+ meeting.

Euro area producer price index for April. It’s expected to be up 38.6% from a year ago, accelerating from the previous month’s reading of 36.8%.

(830 am ET) Canada building permits for April. They are expected to decline 1.5% after a 9.3% drop in March.

(1045 am ET) Bank of Canada Governor Beaudry presents economic progress report to Gatineau Chamber of Commerce.

(815 am ET) U.S. ADP National employment report.

(830 am ET) U.S. weekly initial jobless claims.

(830 am ET) U.S. productivity unit labor costs for the first quarter.

(10 am ET) U.S. factory orders. Consensus is for a rise of 0.7%.

OPEC+ meeting

Ontario election

Earnings include: Broadcom Inc.; CAE Inc.; Lululemon Athletica Inc.

Friday, June 3

Japan and euro area release PMIs. Euro area also reports April retail sales.

(830 am ET) Canada labour productivity for the first quarter. It’s expected to have risen 0.3% after having declined 0.3% in the fourth quarter of last year.

(830 am ET) U.S. nonfarm payrolls for May. Consensus is for net job gains of 325,000, down from April’s 428,000. The unemployment rate is expected to decline a notch to 3.5%, with average hourly earnings rising 5.2% from a year earlier.

(945 am/10 am) More U.S. PMIs.

Earnings include: BRP Inc.; Crowdstrike Holdings Inc.

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