Besides the upcoming FOMC meeting on May 2-3, and French & Italian politics - the decisive runoff round of the French election takes place this Sunday - this week's releases are dominated by US payrolls expected to come around 170k. The busy release calendar continues with Norges bank and RBA meetings as well as global manufacturing PMIs.
With much of Europe and Asia, including the U.K., France, Germany and China markets closed for Labor Day, Asian stocks and the dollar rose buoyed by news that Congress had reached a deal to keep the US government funded through the end of September. S&P futures are up 4 points or 0.2%. Oil declined as rigs targeting crude in the U.S. rose for a fifteenth week and output from Libya rebounded.
Authored by Harry Kazianis via The Strategic Culture Foundation,
If North Korea truly desires state of the art nuclear weapons and missiles - something that can deliver an atomic payload to say Los Angeles - then we are indeed in for some tense time ahead.
Two weeks after winning the Turkish constitutional referendum by a modest but decisive margin, president - or perhaps it is now despot - Erdogan decided to take his newly decreed powers for a spin and overnight in rapid succession surprised foreign observers when Turkey decreed that it would ban TV dating shows, fire an additional 4,000 public officials and also ban Wikipedia.
TURKEY BANS DATING PROGRAMS ON TV AND RADIO: OFFICIAL GAZETTE
— zerohedge (@zerohedge) April 29, 2017
Two months we first suggested that OPEC may be fabricating data about its production cuts - and certainly overstating the "success" of its Vienna production cut deal - by looking at the rising Chinese oil imports, and by extension, rising oil deliveries by OPEC nations.