Important upcoming events and publications for May 6 (GMT):
08:00 Eurozone Composite PMI (final assessment). Risks for EUR: Low. The index is expected unchanged from 51.3, close to 4.5 years lows. Values above 50 indicate increased activity. Stronger than expected data is able to support the euro.
13:30, 14:00 FOMC Harker and Williams speak. Risks for USD: Moderate. Market focus is on inflation estimates and forecasts and commentaries on Friday’s labour market data, that can affect expectations of the U.S. monetary policy.
18:00 BoC Poloz speaks. Risks for CAD: High. Market focus is on the assessment of the situation in mortgage lending and hints on the prospects of monetary policy.
May 7, 04:30 RBA rate decision. Risks for AUD: High. Majority of analysts are expected rate cut to a new historical low 1.25% after almost 3 years of unchanged rates. Hints of willingness to further cuts can increase the pressure for the Aussie.
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