Key facts
- US CPI and Core CPI inflation data are scheduled for release.
- Non-Farm Payrolls data is also on the economic calendar.
- Federal Reserve FOMC rate decisions are expected.
- Eurozone unemployment rate and final PMIs for major economies and the UK are due.
- US ISM Manufacturing PMI is expected to rise to 53.0.
- ECB is expected to hike rates in June, with a pause until September.
- BoE is leaning towards holding rates steady for longer.
Today's economic calendar is packed with crucial data releases and central bank actions that will shape market expectations. In Europe, key indicators like Swiss GDP, Eurozone unemployment, and PMIs will provide insights into regional economic health, though they are not expected to sway immediate central bank policy. The US session is dominated by the ISM Manufacturing PMI, with expectations of an uptick. More significantly, upcoming US CPI and Non-Farm Payrolls data will be critical for the Federal Reserve's upcoming FOMC meeting, especially given potential impacts from Middle East tensions on energy costs and supply chains.