What to Watch in The Day Ahead; Wednesday, June 4
(The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) Hiring in the private sector likely slipped in May, with private employers hiring 210,000 workers, down from April's 220,000, the ADP National Employment Report is expected to show. (0815/1215) Also scheduled is the Commerce Department's data on international trade, which is likely to show the U.S. trade deficit slightly wider than in April, and first-quarter productivity which will likely be revised to show a 2.7 percent decline. (0830/1230) Later, the Institute of Supply Management releases its gauge of the U.S. services sector and then the Federal Reserve releases the Beige Book. (1000/1400) The Bank of Canada is expected to hold its main interest rate at 1.0 percent and show no sign of changing its neutral stance even though inflation has jumped up to its 2 percent target sooner than expected. Markets will be watching to see if the bank still sees low inflation as a risk, especially after an economic slowdown in the first quarter. (0900/1300) Separately, Statistics Canada is expected to release the trade balance data for April. The trade surplus is expected to grow to C$0.20 billion ($183.3 million) from C$0.08 billion in March. (0830/1230) HSBC's Purchasing Managers Index for Brazil's services for the month of May is scheduled for release. Growth in Brazil's services sector slowed in April as business sentiment soured, suggesting companies increasingly expect little of the windfall they once hoped would come with hosting the upcoming soccer World Cup. (0900/1300) (Compiled By Ayesha Sruti Ahmed in Bangalore)
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