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The week ahead: 02/05/22

The week is dominated by monetary policy decisions in Australia, the UK and the US, plus the influential US nonfarm payrolls on Friday. Oil majors BP, Shell and ConocoPhillips report earnings, along with car firms Volkswagen and BMW, plus AMD, Deutsche Post, Anheuser-Busch, ArcelorMittal, Lufthansa and Adidas.

Monday 2 May

While Monday is a bank holiday in the UK, we’ll see manufacturing PMI data for Japan, France, Germany, the eurozone and the US, plus the ISM’s own US manufacturing PMI. Also look out for German retail sales and earnings from risk assessment firm Moody’s, semiconductor manufacturer NXP, commerce tech provider Global Payments, online travel firm Expedia and hospitality and entertainment company MGM Resorts.

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Tuesday 3 May

Pharma firm Pfizer reports to the market on Tuesday, having last week announced a $0.40 Q2 dividend. Figures also come from semiconductor maker AMD, online rental marketplace Airbnb, beauty group Estee Lauder, UK oil major BP, coffeehouse chain Starbucks, DAX component Deutsche Post, petrol refiner Marathon Petroleum and fast-food holding company Restaurant Brands. The RBA makes its latest decision on Australian interest rates, while other data includes German and eurozone unemployment, UK manufacturing PMI and US factory orders.

Wednesday 4 May

All eyes on the Fed on Wednesday as we see whether US interest rates will rise, with markets expecting a 50bps hike. We’ll also get German and US trade balance figures, French, German, eurozone and US services PMI plus the ISM’s US non-manufacturing PMI and eurozone retail sales. Earnings are scheduled from healthcare company CVS Health, car firm Volkswagen, Norwegian energy company Equinor, travel fare aggregator Booking, hotel chain Marriott, fire safety multinational Johnson Controls, gold miner Barrick and exploration and production company Marathon Oil.

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Thursday 5 May

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   ConocoPhillips chart: 29/04/22

Shell and ConocoPhillips lead the earnings on Thursday, as the oil majors consider how to manage their recent windfall. We also expect figures from brewer Anheuser-Busch, steel producer ArcelorMittal, e-commerce firm Shopify, pharma company Vertex, US energy supplier Dominion, carmaker BMW, beverage company Monster, media group News Corp, German airline Lufthansa, energy infrastructure firm Sempra and UK retailer Next. Data includes Australian building approvals and trade balance, Chinese and UK services PMI, and German factory orders and construction PMI. The day’s focal point in the UK will be the Bank of England’s monetary policy decision, due at midday.

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Friday 6 May

The first Friday of the month brings a new US nonfarm payrolls report. In March 431,000 jobs were added, a little short of expectations. Keep an eye out too for Tokyo CPI data, German industrial production and UK construction PMI. We round off the week with earnings from healthcare and insurance firm Cigna, German sportswear manufacturer Adidas, US electric utility NRG and German food and beverage group GEA.

Published: 2 May 2022

You should under no circumstances consider the information and comments provided as an offer or solicitation to invest. This is a macro summary of scheduled news announcements and is not investment advice, independent research or an investment recommendation. The information provided is believed to be accurate at the date the information is produced.

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