All eyes will be on the Fed and ECB in the week beginning Monday the 30th May. The euro recently weakened below the 1.12 mark against the US dollar, and despite the softening Fed expectations, the euro-dollar hit a monthly low of 1.1128 on Wednesday the 25th. The ECB is expected to maintain the status quo at Thursday’s monetary policy meeting. It’s also expected to continue buying 80 billion euros worth of assets on a monthly basis.
US jobs data on Friday will be another major event to keep an eye on. It will be an important test for the Fed-hawks because expectations are rather weak. The US economy is expected to have added 160’000 new non-farm jobs last month, in line with last month’s performance.
Finally, we have a series of PMI data coming up including UK PMI. British officials warned that a potential Brexit could weigh on the UK’s services sector, as services makes up 80% of the economy. The current uncertainty surrounding the UK EU referendum may have had a negative impact on the services sector in May.
Watch this video for a closer look at next week’s major events.
-US non-farm payrolls
-UK Services PMI data