The main events tomorrow

The environment will be a very informative day of the week. At 01:30 GMT Australia will present the index of labor cost for the 1st quarter. It is expected that the index increased by 0.5% over the quarter and by 2.1% per annum.

At 02:00 GMT New Zealand will be announced the RBNZ decision on the basic interest rate and at 04:00 GMT will be a press conference by the RBNZ. According to the forecast, the rate will be maintained at 0.25%.

At 06:00 GMT Britain will declare the changes in GDP for the 1st quarter, and industrial production, production in the manufacturing industry, the volume of business investment and total trade balance for March. The first indicator reflects the change in market value of all goods and services intended for direct consumption, manufactured during a certain period in all sectors of the economy in the state for consumption, export and accumulation, regardless of the ethnicity of used factors of production. Is the most comprehensive indicator of the state of the economy. It is expected that GDP fell by 2.5% compared to the 4th quarter and decreased by 2.1% per annum.

At 09:00 GMT Eurozone will report on the change in the volume of industrial production for March. The indicator reflects the change in output in manufacturing and extractive industries, forestry and electricity production. High or rising indicator values indicate economic development. Despite the fact that production in the GDP structure has a smaller share than the service sector, the index is a good indicator of the state of the economy of the region. According to the forecast, industrial production fell 12% for the month and 12% per annum.

At 12:30 GMT the U.S. will release the producer price index for April. The producer price index measures the change in the level of prices of goods produced in the industry. This index consists of two parts: input prices (semi-finished products, components, etc.) and output prices of production (finished products). The outlet price includes the cost of labor and gives an idea about inflation, associated with changes in the cost of labor. More objective is the producer price index excluding food and energy (core reading). When calculating the index does not take into account prices of imported goods and services. It is expected that the producer price index fell 0.5% for the month and fell by 0.4% per annum.

13:00 GMT USA fed Chairman Jerome Powell will present semi-annual report on monetary policy.

14:30 GMT US will release a report on oil reserves according to the Ministry of energy.

Information-analytical Department TeleTrade

Source: teletrade.ru

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