US: Key events for next week - Danske Bank

Analysts from Danske Bank, point out that next week looks quiet in terms of the economic calendar. Reports include the PMI index.

Key Quotes: 

“In the US, we have a quiet week ahead of us. On Monday, we get Empire manufacturing  PMI and Thursday brings the Philly Fed Index – both for May. In recent months, we have seen a divergence between regional manufacturing PMIs and overall PMI/ISM. However, the gap between ISM and PMI has started to close and we expect regional PMIs to fall from their current extremely high levels. Although we have recently argued that we expect confidence indicators within the manufacturing sector to decrease, we do not expect to see a significant slowdown in actual manufacturing activity when we receive numbers on manufacturing production and industrial production (both for April) on Tuesday.”

“The coming weeks also bring speeches by FOMCmembers James Bullard (non-voter, dove) and Loretta J. Mester (non-voter, hawk), which are not that important given that we have already heard from both of them recently.”