Good Morning Traders! It is Thursday, May 4th, the day we get the ECB Interest Rate Decision, as well as Composite PMI for Euro-Area.

Here is what to be aware of before going into today's session.


As economic risks increase, the Federal Reserve increased interest rates by a quarter percentage point, with hints that it may be the last step in the most aggressive tightening campaign since the 1980s.

According to a private poll, China's factory activity faltered in April, adding to the indications of an unbalanced economic recovery. According to a statement released on Thursday by Caixin and S&P Global, the China Caixin manufacturing purchasing managers index decreased from 50 in March to 49.5 last month, indicating a decrease in industrial output for the first time since January.

According to persons familiar with the situation, President Joe Biden will propose economist Adriana Kugler for a vacant board seat and has chosen Federal Reserve Governor Philip Jefferson for a promotion to vice chair. Speaking on the condition of anonymity to discuss private conversations, two of the persons claimed that the picks may be made as soon as this Friday.

As Chinese traders resumed trading after a break, oil futures experienced a roller-coaster ride, first falling to their lowest point since 2021 in a chaotic opening period before erasing losses to trade higher.


03:55 AM ET
German S&P Composite PMI Final
Median Forecast 53.9 | Prior 53.9 | Range 53.9/53.9

German S&P Services PMI Final
Median Forecast 55.7 | Prior 55.7 | Range 55.7/55.5

04:30 AM ET
UK S&P Composite PMI Final
Median Forecast 53.9 | Prior 53.9 | Range 53.9/53.9

08:30 AM ET
ECB Interest Rate
Median Forecast 3.75% | Prior 3.50% | Range 4.00%/3.75%

ECB Deposit Rate
Median Forecast 3.25% | Prior 3.00% | Range 3.50%/3.25%


04:40 AM ET
BoE's Bailey Speaks

05:00 AM ET
EU's Gentiloni Speaks


Good Luck Today Traders!