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Australian Investment Blog

Macro 31/05/2021

Economic data for the week ahead

The week gets off to a slow-ish start with the US enjoying a long weekend for Memorial Day tonight. China PMI has printed today though with a slight beat on non-Manufacturing (55.2) offsetting a slight miss on the Manufacturing PMI (51).

The more looked at Caixin number will print tomorrow morning while the market will also be focused on a suite of local construction and housing data ahead the RBA rate decision out tomorrow afternoon. OPEC will also being their latest meeting from Tuesday evening which  will keep the energy traders busy. US traders will hit the ground running on the return to work on Tuesday thanks to PMI & ISM Manufacturing data set to show continued expansion of the US economy.

Local GDP data hits the screens on Wednesday however the market will likely get hints ahead of time within the RBA’s comments Tuesday afternoon. A ‘quieter’ end to the week comes with US employment data due both Thursday and Friday evenings coupled Crude inventory figures,

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