Good Morning Traders!
It is Tuesday 2nd of May, today we get US Factory Data, and the first of 3 US employment reports in the week.
Here are some other things to look out for.
Sentiment
Treasuries rise, led by the belly, and the dollar recovers after an ECB survey revealed that euro-zone banks cut lending more than expected in Q1.
Money markets are holding Fed rate bets steady, pricing 25 basis points of hikes on Wednesday and 54 basis points of cuts by year's end.
After a surprise 25bps RBA hike, the Australian dollar outperforms its G10 peers.
Financial markets are caught in a tug-of-war between lingering inflation and fears of a recession as they try to predict the Fed's next move. This means that investors may be ignoring a far more dangerous outcome: stagflation
Docket
10:00 AM ET
US Factory Orders MoM for March - Median Forecast 1.3% | Prior -0.7% | Range 2%/0.4%
US JOLTS Job Openings for March - Median Forecast 9.736M | Prior 9.931M | Range 10.3M/9.4M
5:00 PM ET
RBNZ Financial Stability Report
Speakers
09:00 AM ET
German Finance Min. Lindner speaks at the 27th meeting of the Stability Council.
Earnings
4:05 PM ET
Starbucks Q1 23 Earnings
Est EPS 65 c
Est Revenue $8.42 Bln
Good luck!
