Important upcoming events and publications

Important upcoming events and publications for May 2 (GMT):

08:00 Eurozone Manufacturing PMI for April (final estimate). Impact on EUR: moderate. The first estimate two weeks ago was at 47.8. The index is expected to persist at this level. Values below 50 indicate a decline in business activity. The downward revision is able to harm the euro.

11:00 Bank of England Monetary Policy decision and the quarterly Inflation Report. Effect on GBP: high. Changes in policy are not expected, while the focus of the market will be inflation forecasts and comments on plans to raise rates in the current year. Removal from the agenda a tightening policy can be an unpleasant surprise for a pound.

12:30 U.S. Weekly Unemployment Claims. Impact on USD: high. Initial claims are expected to decline from 230K to 220K. This number was steadily decreasing from 230K since March down to 193K in mid-April, but last week there was a sharp leap. Usually, the decline supports the dollar.

Detailed economic calendar