- Biden is expected to boost the government's massive spending program this week. According to White House Press Secretary Jane Psaki, US President Biden will speak on the Covid19 epidemic on Tuesday, will speak on the economic situation on Friday and may discuss job plans during a visit to Louisiana on Thursday. Investors may continue to pay attention to Biden's efforts to push the latest stimulus plan.
In terms of data, this week focuses on Friday's non-farm data; after the non-farm record rose 916,000 in March, economists predicted that the number of new jobs in April could reach 1 million. Additionally, many economies will release April PMI data for manufacturing and service industries this week. On Monday, France, Germany, the Eurozone and the UK will release their final manufacturing PMIs in April, and the US April Markit Manufacturing PMI and Monthly ISM Manufacturing PMI. 4 US will also be announced on Monday.
In addition, on Tuesday, the Reserve Bank of Australia will announce its decision on interest rate and 3-year Treasury bond yield target. Markets expect Reserve Bank of Australia to stand still.
On Thursday, the Bank of England will publish the resolutions on interest rates, the minutes of the meeting and the monetary policy report. Bank of England Governor Bailey will hold a press conference. Analysts expect the Bank of England to signal that it plans to reduce asset purchases.
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