On Friday, May 31, 2019, the markets will be interested in the release of economic calendar data, which usually results in changes in price movements - the economic agenda is a key tool for the basic analysis of the news to predict markets’ performance. Therefore, caution must be taken to determine the results of these actual data to make the right trading decision. The economic news today are:
China Industrial PMI: In China, the PMI unexpectedly fell to 50.1 in April from a five-month high of 50.5 in the previous month. The monthly reading exceeded analysts' expectations of 50.5. Growth slowed to new orders and production. Employment fell at a faster pace and new export orders continued to fall.
Expectations for the month of May 2019: a reading of 49.9.
Canadian GDP: Canada's economy grew by 0.1% on a monthly basis in February, after growing 0.3% in January. Analysts had expected the Canadian economy to stabilize. Production from commodity-producing industries fell by 0.2%, driven by declines in mining, quarrying, oil and gas extraction and manufacturing activities. On the other hand, construction and utilities sectors grew. Service-producing industries fell 0.1%, led by finance, insurance, transport, storage, real estate, leasing, information and culture sectors. The main gains were retail, wholesale, and scientific, professional and technical services.