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Mixed performance for USD pairs this week after a slew of U.S. economic updates, including top tier events like the FOMC monetary policy meeting and the monthly U.S. employment update.
Headlines and Economic data
Monday:
- U.S. consumer spending posts biggest gain since 2009
- R.I.P. Inflation: The data point the Fed watches for inflation just said there isn’t any
Tuesday:
- U.S. pending home sales jumped 3.8% in March, thanks to a big dip in mortgage rates
- Trump, Democrats agree to spend $2 trillion on U.S. infrastructure
- US consumer confidence improves in April
- Home prices grow at a slower rate in February: S&P Case-Shiller
Wednesday:
- ADP private-sector job growth surges by 275,000 — but there’s a caveat
- A US-China trade deal is ‘possible’ by next Friday, sources say
- ISM manufacturing PMI drops to 52.8 vs. 55.0 forecast
- Fed holds rate steady, says inflation is ‘running below’ its target
- IHS Markit manufacturing PMI – Solid rise in new orders drives further improvement in operating conditions
Thursday:
- 2019 April U.S. Job Cuts Report: Cuts Down to 40,023, YTD Up 31%
- U.S. factory orders post largest increase in seven months
- Nonfarm business sector labor productivity increased 3.6% in the first quarter of 2019, according to the U.S. Bureau of Labor Statistics
- As China trade talks race to finish, Trump may settle for less
Friday:
- Jobs surge in April, unemployment rate falls to the lowest since 1969
- ISM services index decelerates in April to lowest level in two years
- Some U.S. Fed officials are more worried by weak inflation
- Clarida: Fed can afford to be data dependent, US economy in a good place
- Fed’s Williams makes case for ‘lower for longer’ rates
- Fed’s James Bullard says interest rate policy is ‘a little tight’ right now