Reports to Watch

The week is full of key economic data from a variety of sectors.

• A packed economic calendar kicks off Monday with Personal Income and Personal Spending, the inflation-reading Personal Consumption Expenditures (PCE) and the ISM Index.
• Wednesday brings the ADP National Employment Report and the ISM Services Index.
• On Thursday, weekly Initial Jobless Claims and Q1 Productivity will be released.
• Friday’s highly anticipated Jobs Report for April will include Non-farm Payrolls, the Unemployment Rate and Hourly Earnings.
• Finally, while not an economic report, the Federal Open Market Committee (FOMC) meeting will take place Tuesday and Wednesday, culminating with the release of the monetary policy statement Wednesday at 2:00 p.m. EDT.

X Factor

This week’s X- Factor is three pronged with Core PCE, the Federal Open Market Committee meeting and April’s Jobs Report.

First up will be a look at inflation through the Core PCE report on Monday, which will be a key factor in monetary policy decision making for Fed members.

The Wednesday release of the Fed’s monetary policy statement will carry big headline risk. While there is no expectation of a hike in the short-term Fed Funds Rate, the accompanying statement may give some clues as to future interest rate policy changes.

And last but not least, the Jobs Report for April will be delivered on Friday morning. As mentioned, job growth slipped in March from the strong numbers seen in January and February. Investors, traders and Fed members will be closely watching the numbers to see if weak economic growth has thrown a wrench in hiring.

As usual, stay close to the Mortgage Market Guide this week as we guide you through the economic data and the turbulence coming from the geopolitical environment.

For more detailed information and insight, view the Economic Calendar, the Daily Market Update and Guidance, and our exclusive Market News. And don’t forget, you can easily download the Economic Calendar to your Outlook Calendar to make sure you don’t miss important economic releases. Just click here to read instructions for downloading to Outlook