This week is dominated by big data releases from around the world. German inflation data lands on Tuesday with preliminary US GDP due on Wednesday. Friday see’s the release of US Non-farm payrolls that increased by 164k in April, following an upwardly revised 135k in March. Will the May numbers reach 185k, or will the previous month's history repeat itself coming in well below market expectations?

The main fundamentals moving into this week will centre around the ongoing US/China Trade War. President Trump called for a “different structure”  in any trade with China fuelling last week’s uncertainty in negotiations.

Trump continues to spook the markets for another week after threatening to impose new tariffs on imported cars. Along with the dovish looking minutes of the Federal Reserve’s last policy meeting, traders anticipate the dollar to continue on its bearish slide.

With earnings season winding down the majority of company results come from the US. Salesforce and VMWar are companies to watch with clothing retailers, Guess, Abercrombie and Fitch and Lulu Lemon also sharing the spotlight. Highlights from the UK include De la Rue, Johnson Matthey and First Group.

Economic Calendar (all times are in BST)

 

Monday, 28th May

08:30 SW Retail Sales MoM


Tuesday, 29th May

00:30 JP Employment – Jobs Application Ratio

00:30 JP Employment – Unemployment Rate

07:00 UK House Prices Nationwide MoM

07:00 UK House Prices Nationwide YoY

15:00 US Consumer Confidence Index

 

Wednesday, 30th May

02:30 AU Building Approvals –Residential Building Approvals – MoM

09:00 DE Unemployment Claims Change

09:00 DE Unemployment Rate

10:00 EU Consumer Confidence Index

13:00 DE CPI Preliminary YoY

13:00 DE CPI EU Harmonised Preliminary YoY

13:30 US GDP Preliminary

15:00 Bank of Canada Interest Rate Announcement

 

Thursday, 31st May

00:50 JP Industrial Production Industrial Output Preliminary MoM

02:00 CN PMI Manufacturing

02:30 AU Business Capital Expenditure –New Capex QoQ

10:00 EU CPI Flash Estimate YoY

10:00 EU Unemployment Rate

10:00 IT CPI Flash EU Harmonised MoM

10:00 IT CPI Flash EU Harmonised YoY

13:30 US Employment Claims

13:30 US Personal Income Personal Consumption MoM

16:00 EIA Crude Oil Stocks Net Change

 

Friday, 1st June

08:45 IT PMI Manufacturing

08:50 FR PMI Manufacturing

08:55 DE PMI Manufacturing

09:00 EU PMI Manufacturing

09:00 IT GDP Final QoQ

09:00 IT GDP Final YoY

09:30 UK PMI Manufacturing

13:30 US Non-Farm Payrolls

13:30 US Unemployment Rate

15:00 US PMI Manufacturing

 

Corporate Calendar

Monday, 28th May

Leju Holdings Limited -Earnings Announcement


Tuesday, 29th May

Bank of Cyprus Holdings -Interim Results

Frutarom Industries -Interim Results

Renold Plc –Final Results

Salesforce.com Inc –Earnings Announcement

 

Wednesday, 30th May

De La Rue Plc – Final Results

London Metric Property – Final Results

Trans-Siberian Gold – Final Results

Oxford Metrics – Interim Results

TCS Group Holdings – Final Results

Guess Inc – Earnings Announcement

 

Thursday, 31st May

First Group Plc – Final Results

Johnson Matthey PLC –Final Results

Urban and Civic Plc –Interim Results

Costco Wholesale Corp – Earnings Announcement

Dollar Tree Inc – Earnings Announcement

Lululemon athletic Inc – Earnings Announcement

Workday Inc – Earnings Announcement

VMWare Inc – Earnings Announcement

 

Companies paying dividends:

Albion Technology & General VCT PLC [AATG] (2 p)

Aberdeen Emerging Markets Investment Company Limited [AEMC] (5.25 p)

Aberdeen New Thai Investment Trust Plc [ANW] (11.1 p)

Arrow Global Group [ARW] (8.1 p)

Andrews Sykes Group PLC [ASY] (11.9 p)

British Empire Sec & Gen Trust 8.125% [BREM] (4.06 p)

Blackrock Frontiers Investment Trust PLC [BRFI] (0.03 USD)

Blackrock World Mining Trust Plc [BRWM] (3 p)

Burford Capital Ltd [BUR] (0.08 USD)

Patisserie Holdings Plc [CAKE] (1.44 p)

Computacenter PLC [CCC] (18.7 p)

Cardiff Property (The) PLC [CDFF] (4.4 p)

City Pub Group Plc [CPC] (2.25 p)

DFS Furniture Plc [DFS] (3.7 p)

Elegant Hotels Group Plc [EHG] (1.33 p)

Frenkel Topping Group PLC [FEN] (0.92 p)

Gamma Communications Plc [GAMA] (5.6 p)

GBGI Limited [GBGI] (0.01 USD)

Headlam Group PLC [HEAD] (17.25 p)

Henderson European Focus Trust [HEFT] (9.5 p)

Hydrogen Group PLC [HYDG] (0.8 p)

Ingenta Plc [ING] (1.5 p)

James Halstead [JHDA] (2.75 p)

Keller Group PLC [KLR] (24.5 p)

Keywords Studios [KWS] (0.98 p)

Michelmersh Brick Holdings PLC [MBH] (1.45 p)

Medica Group Plc [MGP] (1.1 p)

Murray Income Trust PLC [MUT] (8 p)

National Grid PLC [NG.] (30.44 p)

On The Beach Group Plc [OTB] (1.1 p)

Pacific Assets Trust PLC [PAC] (2.6 p)

R.E.A.Holdings PLC 9% Pref [RE.B] (4.5 p)

Seneca Global Income Growth Trust Plc [SIGT] (1.64 p)

Standard Life Equity Income Trust [SLET] (4.4 p)

Spire Healthcare Group [SPI] (2.5 p)

SSP Group Plc [SSPG] (4.8 p)

Staffline Group PLC [STAF] (15.7 p)

STM Group PLC [STM] (1.2 p)

Tarsus PLC [TRS] (7 p)

Taylor Wimpey PLC [TW.] (10.4 p)

Xaar PLC [XAR] (6.8 p)

 

Friday, 1st June

Abercrombie and Fitch Company –Earnings Announcement

 

Sources: Bloomberg/Companies