United Kingdom – Early May Bank Holiday
Japan – Ch il d ren ’s Day
South Korea – Ch il dren ’s Day
01:30 AUD Building Approvals (MoM)
Forecast: 1.0% Previous: -5.0%
Building Approvals (also known as Building Permits) measures the change in the number of new building approvals issued by the government. Building permits are key indicator of demand in the housing market.
A higher than expected reading should be taken as positive/bullish for the AUD, while a lower than expected reading should be taken as negative/bearish for the AUD.
09:00 EUR EU Economic Forecasts
Forecast: 54.1 Previous: 53.9
The forecasts serve as the European Commission’s basis for evaluating economic performance and trends of EU member states in regard to potential austerity measures and other forced spending cuts;
14:00 USD ISM Non-Manufacturing PMI
Forecast: 54.1 Previous: 53.1
The Institute of Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI) (also known as the ISM Services PMI) report on Business, a composite index is calculated as an indicator of the overall economic condition for the non-manufacturing sector. The NMI is a composite index based on the diffusion indexes for four of the indicators with equal weights Business Activity (seasonally adjusted), New Orders (seasonally adjusted), Employment (seasonally adjusted) and Supplier Deliveries.
A reading above 50 percent indicates the non-manufacturing sector economy is generally expanding; below 50 percent indicates the non-manufacturing sector is generally contracting. The Non-Manufacturing ISM Report on Business is based on data compiled from monthly replies to questions asked of more than 370 purchasing and supply executives in over 62 different industries representing nine divisions from the Standard Industrial Classification (SIC) categories. Membership of the Business Survey Committee is diversified by SIC category and is based on each industry contribution to Gross Domestic Product (GDP).
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.