US
0730 ET Apr Challenger job cuts, Mar +39.4% y/y.
0830 ET Weekly initial unemployment claims expected +16,000 to 225,000, previous -24,000 to 209,000. Weekly continuing claims expected -2,000 to 1.835 million, previous -29,000 to 1.837 million.
0830 ET Q1 non-farm productivity expected +0.9%, Q4 unch. Q1 unit labor costs expected +3.0%, Q4 +2.5%.
0830 ET Mar trade balance expected -$50.0 billion, Feb -$57.6 billion.
0830 ET USDA weekly Export Sales.
0945 ET Final-Apr Markit U.S. services PMI expected +0.1 to 54.5, prelim-Apr +0.4 to 54.4.
1000 ET Apr ISM non-manufacturing PMI expected -0.8 to 58.0, Mar -0.7 to 58.8.
1000 ET Mar factory orders expected +1.4%, Feb +1.2% and +0.1% ex transportation.
UK
0430 ET UK Apr Markit/CIPS services PMI expected +1.8 to 53.5, Mar -2.8 to 51.7.
EUR
0500 ET Eurozone Mar PPI expected +0.1% m/m and +2.1% y/y, Feb +0.1% m/m and +1.6% y/y.
0500 ET Eurozone Apr CPI expected +1.3% y/y, Mar +1.6% y/y. Apr core CPI expected +0.9% y/y, Mar +1.0% y/y.
0800 ET ECB Vice President Vitor Constancio speaks at a ECB conference on “Fostering banking union and capital markets union-a top-down or bottom-up approach?â€
CHI
2145 ET China Apr Caixin services PMI expected unch at 52.3, Mar -1.9 to 52.3.
JPN
n/a Japanese markets closed for Constitution Memorial Day.
Commodity Calendar – Thursday 5/3/2018
Date Time Event Survey Prior
5/3/2018 8:30 Net Export Sales Corn-Total 26-Apr — 620.5
5/3/2018 8:30 Net Export Sales Corn-Old Crop 26-Apr — 697.1
5/3/2018 8:30 Net Export Sales Soybeans-Total 26-Apr — 537.8
5/3/2018 8:30 Net Export Sales Soybeans-Old 26-Apr — 371.3
5/3/2018 8:30 Net Export Sales Wheat-Total 26-Apr — 577.9
5/3/2018 8:30 Net Export Sales Wheat-Old 26-Apr — 297.2
5/3/2018 8:30 Net Export Sales Cotton-Total 26-Apr — 571.3
5/3/2018 8:30 Net Export Sales Cotton-Old 26-Apr — 312
5/3/2018 8:30 Net Export Sales Soy Meal-Total 26-Apr — 264.5
5/3/2018 8:30 Net Export Sales Soy Meal-Old 26-Apr — 223.7
5/3/2018 8:30 Net Export Sales Soy Oil-Total 26-Apr — 11.2
5/3/2018 8:30 Net Export Sales Soy Oil-Old 26-Apr — 11.2
5/3/2018 10:30 EIA Working Natural Gas Implied Flow 27-Apr — -18
5/3/2018 10:30 EIA Natural Gas Storage Change 27-Apr — -18