Jeremy Oles
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| Time(GMT+0/UTC+0) | State | Importance | Event | Forecast | Previous |
| 00:30 |  | 2 points | au Jibun Bank Services PMI (May) | 50.8 | 52.4 |
| 01:30 |  | 2 points | GDP (QoQ) (Q1) | 0.4% | 0.6% |
| 01:30 | | 2 points | GDP (YoY) (Q1) | 1.5% | 1.3% |
| 08:00 |  | 2 points | HCOB Eurozone Composite PMI (May) | 49.5 | 50.4 |
| 08:00 | | 2 points | HCOB Eurozone Services PMI (May) | 48.9 | 50.1 |
| 12:15 |  | 3 points | ADP Nonfarm Employment Change (May) | 111K | 62K |
| 12:30 | | 2 points | FOMC Member Bostic Speaks | ———- | ———- |
| 13:45 | | 2 points | S&P Global Composite PMI (May) | 52.1 | 50.6 |
| 13:45 | | 3 points | S&P Global Services PMI (May) | 52.3 | 50.8 |
| 14:00 | | 2 points | ISM Non-Manufacturing Employment (May) | ———- | 49.0 |
| 14:00 | | 3 points | ISM Non-Manufacturing PMI (May) | 52.1 | 51.6 |
| 14:00 | | 3 points | ISM Non-Manufacturing Prices (May) | ———- | 65.1 |
| 14:30 | | 3 points | Crude Oil Inventories | ———- | -2.795M |
| 14:30 | | 2 points | Cushing Crude Oil Inventories | ———- | 0.075M |
| 18:00 | | 2 points | Beige Book | ———- | ———- |
Summary of Upcoming Economic Events on June 4, 2025
Japan
1. au Jibun Bank Services PMI (May) – 00:30 UTC
- Forecast: 50.8 | Previous: 52.4
- Market Impact:
- Decline implies slowing services sector, which could weaken JPY and reduce growth optimism.
Australia
2. GDP (QoQ & YoY) (Q1) – 01:30 UTC
- Forecast (QoQ): 0.4% | Previous: 0.6%
- Forecast (YoY): 1.5% | Previous: 1.3%
- Market Impact:
- Slowing quarterly growth may dampen RBA hawkishness, pressuring AUD.
- If YoY exceeds expectations, investor sentiment may stabilize.
Eurozone
3. HCOB Eurozone Composite & Services PMI (May) – 08:00 UTC
- Composite Forecast: 49.5 | Previous: 50.4
- Services Forecast: 48.9 | Previous: 50.1
- Market Impact:
- Declines in both indexes suggest economic contraction, likely pressuring EUR and bond yields.
- Weak services performance raises recession risks in the eurozone.
United States
4. ADP Nonfarm Employment Change (May) – 12:15 UTC
- Forecast: 111K | Previous: 62K
- Market Impact:
- Job growth rebound supports labor market strength, which could reduce rate cut expectations, supporting USD and yields.
5. FOMC Member Bostic Speaks – 12:30 UTC
- Market Impact:
- Views on employment and inflation will shape short-term Fed policy expectations.
6. S&P Global Composite & Services PMI (May) – 13:45 UTC
- Composite Forecast: 52.1 | Previous: 50.6
- Services Forecast: 52.3 | Previous: 50.8
- Market Impact:
- A rise confirms economic expansion, supporting equities and the USD.
7. ISM Non-Manufacturing PMI & Employment & Prices (May) – 14:00 UTC
- PMI Forecast: 52.1 | Previous: 51.6
- Employment Previous: 49.0
- Prices Previous: 65.1
- Market Impact:
- Stronger PMI and prices index signal inflation persistence, which may limit Fed flexibility.
- Employment data affects wage pressure outlook.
8. Crude Oil & Cushing Inventories – 14:30 UTC
- Previous Crude: -2.795M
- Previous Cushing: +0.075M
- Market Impact:
- Further drawdowns could support oil prices, reinforcing inflation expectations.
9. Beige Book – 18:00 UTC
- Market Impact:
- Offers regional insights into economic activity and inflation trends.
- Can shape Fed tone ahead of FOMC meetings.
Market Impact Analysis
- The day is heavily influenced by U.S. services sector data, particularly ISM and S&P PMIs, and ADP job growth.
- Eurozone PMI weakness may pressure EUR if confirmed.
- Australian GDP softness could influence RBA expectations.
- Oil data and the Beige Book may sway inflation and rate sentiment toward the June FOMC meeting.
Overall Impact Score: 9/10
Key Focus:
With major U.S. indicators on services activity, employment, and inflation all releasing in one session, market direction will depend heavily on whether the U.S. economy appears resilient or overheating. Combined with weak Eurozone data and soft Australian GDP, there’s potential for sharp moves in USD, EUR, AUD, oil, and equities.
