020 7898 0500It was a mixed day for US data releases on Friday, with personal spending failing to show expected growth and personal income growing as expected. We did see some positivity in terms of consumer sentiment figures, which grew to a three-month high.
We can look forward to a busy week data-wise. Today we have the ISM Manufacturing Purchasing Managers’ Index (PMI) due, which is expected to post growth following contraction in the sector the previous month.
Construction spending data which follows is expected to show growth for the first time in five months. With the non-farm employment release on Friday, we can expect various releases used as an indicator beforehand, with ADP non-farm employment figures on Wednesday and the weekly labour data on Thursday. ISM non-manufacturing PMIs on Wednesday are due to post a vast improvement in growth compared to last month month.
Friday will be a key day for data releases, with average hourly earnings expecting to show continued growth. The main release is the non-farm employment change, which is expected to post growth on the previous month. If this does happen talk will continue in regards to a possible interest rate hike this year, particularly with four members of the US Federal Reserve also due to speak.
