Week ahead: Fed decision, US non-farm payrolls in focus

The market spotlight over the coming week would be on the US central bank's policy decision on Thursday.

Consensus was firmly in the tightening camp with another 25 basis point interest rate hike to 5.0-5.25% priced in by financial markets.

The key however would be on just how hawkish policymakers would sound.

Worth noting, some economists remained of the belief that the Fed might yet have to raise rates even further, although many believed that May's hike might be the last.

Possibly key in that regard could be the non-farm payrolls report for April due out on Friday.

The market consensus was for hiring to have slowed from the 236,000 pace seen in March to 181,000 in April.

But there was scope for a downward surprise both in April and over the next few months, although distortions linked to the Easter holidays might muddy the waters a little bit.

Against that backdrop, on Thursday it would be the turn of rate-setters at the European Central Bank to announce their next move.

Consensus recently converged for a 25bp hike in the main refinancing rate to 3.75%.

Economists at Pantheon Macroeconomics were also of that mind, although they believed that euro bank lending figures due out on Tuesday and Wednesday's CPI figures for April merited watching as they could drive market-based expectations back to a 50bp increase - although they doubted it.

Tuesday would also bring with it closely followed factory sector Purchasing Managers surveys for the euro area and the UK in April.

Stateside, the JOLTS labour market survey on Wednesday might also draw some attention.

In Asia, the Reserve Bank of Australia would announce its own policy decision on Tuesday and on Thursday survey compiler Caixin was scheduled to release its Chinese factory sector PMI for April.

Monday May 01

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Construction Spending (US) (15:00)

ISM Manufacturing (US) (15:00)

ISM Prices Paid (US) (15:00)

PMI Manufacturing (US) (14:45)

Tuesday May 02

INTERIMS

Carr's Group

INTERIM DIVIDEND PAYMENT DATE

Grit Real Estate Income Group Limited NPV, NWF Group, Volution Group

QUARTERLY EX-DIVIDEND DATE

Tetragon Financial Group Limited

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Auto Sales (US) (20:30)

Factory Orders (US) (15:00)

M3 Money Supply (EU) (09:00)

PMI Manufacturing (EU) (09:00)

Retail Sales (GER) (07:00)

FINALS

Facilities by ADF

AGMS

AVI Japan Opportunity Trust , CVC Income & Growth Limited NPV Euro, Diversified Energy Company , HSBC Holdings, IOG, Ocado Group, Plus500 Ltd (DI)

UK ECONOMIC ANNOUNCEMENTS

PMI Manufacturing (09:30)

FINAL DIVIDEND PAYMENT DATE

Banco Santander S.A., CLS Holdings, NATWEST GROUP

Q1

BP, Gran Tierra Energy Inc. (CDI)

Wednesday May 03

INTERIMS

Smiths News , Ten Lifestyle Group

QUARTERLY PAYMENT DATE

British American Tobacco, Marble Point Loan Financing Limited NPV

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

ISM Prices Paid (US) (15:00)

ISM Services (US) (15:00)

MBA Mortgage Applications (US) (12:00)

PMI Composite (US) (14:45)

PMI Services (US) (14:45)

Unemployment Rate (EU) (10:00)

FINALS

Ashtead Technology Holdings, Cambridge Cognition Holdings, Inspiration Healthcare Group , Light Science Technologies Holdings

AGMS

Apax Global Alpha Limited , Barclays, Elementis, Gran Tierra Energy Inc. (CDI), GSK, Logistics Development Group, Okyo Pharma Limited NPV, Pershing Square Holdings Ltd NPV, Pershing Square Holdings Ltd NPV (USD), Reach, Reckitt Benckiser Group, Standard Chartered, Unilever

TRADING ANNOUNCEMENTS

Barratt Developments, Flutter Entertainment (CDI), OSB Group , TI Fluid Systems

Thursday May 04

INTERIMS

Virgin Money UK

INTERIM DIVIDEND PAYMENT DATE

London Finance & Investment Group, Manchester & London Investment Trust

INTERIM EX-DIVIDEND DATE

AB Dynamics, Lok'n Store Group, Royal Bank of Scotland 11% Cum. Prf, Royal Bank of Scotland 5.5% Cum. Prf., Seneca Growth Capital Vct, Seneca Growth Capital Vct B, Smart (J) & Co.

QUARTERLY EX-DIVIDEND DATE

BlackRock World Mining Trust, Picton Property Income Ltd

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Trade (GER) (07:00)

Balance of Trade (US) (13:30)

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

PMI Composite (EU) (09:00)

PMI Composite (GER) (08:51)

PMI Services (EU) (09:00)

PMI Services (GER) (08:51)

Producer Price Index (EU) (10:00)

GMS

Aviva

FINALS

e-Therapeutics, Trainline

IMSS

Rathbones Group

SPECIAL EX-DIVIDEND DATE

Admiral Group, Hvivo

AGMS

AIB Group (CDI), Aviva, BiVictriX Therapeutics, Domino's Pizza Group, Glanbia (CDI), Grafton Group Ut (CDI), Hammerson, Howden Joinery Group, IMI, Indivior, ITV, LungLife AI, Inc (DI) , Mincon Group (CDI), Mondi, Moneysupermarket.com Group, Morgan Sindall Group, Personal Group Holdings, Phoenix Group Holdings , Rathbones Group, SIG, Ten Entertainment Group , Travis Perkins, Witan Inv Trust, Zhejiang Expressway Co 'H' Shares

TRADING ANNOUNCEMENTS

Derwent London, Mondi, Morgan Sindall Group, Next

UK ECONOMIC ANNOUNCEMENTS

Consumer Credit (09:30)

M4 Money Supply (09:30)

Mortgage Approvals (09:30)

PMI Composite (09:30)

PMI Construction (09:30)

PMI Services (09:30)

FINAL DIVIDEND PAYMENT DATE

CRH (CDI), Nichols, Schroders, SEGRO

FINAL EX-DIVIDEND DATE

4Imprint Group, Admiral Group, Bank of Cyprus Holdings Public Limited Company (CDI), Centralnic Group , Dunedin Income Growth Inv Trust, Harworth Group, Henry Boot, Hiscox Limited (DI), Investec Investment Trust 3 1/2% Cumulative Preference Stock, Lancashire Holdings Limited, LLoyds Banking Group 9.25% Non-Cum Irredeemable Pref Shares, LLoyds Banking Group 9.75% Non-Cum Irredeemable Pref Shares, Midwich Group, North American Income Trust (The), Octopus AIM VCT 2, Porvair, Public Policy Holding Company, Inc. (DI) (REG S, CAT3), RBG Holdings, Safestyle UK , Shanta Gold Ltd., St James's Place, Tclarke , Zotefoams

Q1

Endeavour Mining, Shell , Wheaton Precious Metals Corp.NPV (CDI)

Friday May 05

INTERIM DIVIDEND PAYMENT DATE

Begbies Traynor Group, Tracsis

QUARTERLY PAYMENT DATE

CT UK High Income Trust, CT UK High Income Trust B , TwentyFour Select Monthly Income Fund Limited

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Credit (US) (20:00)

Factory Orders (GER) (07:00)

Non-Farm Payrolls (US) (13:30)

Retail Sales (EU) (10:00)

Unemployment Rate (US) (13:30)

SPECIAL DIVIDEND PAYMENT DATE

Somero Enterprises Inc. (DI)

AGMS

Holders Technology, InterContinental Hotels Group, Man Group, Rightmove, UK Oil & Gas

TRADING ANNOUNCEMENTS

InterContinental Hotels Group, RHI Magnesita N.V. (DI)

UK ECONOMIC ANNOUNCEMENTS

PMI Construction (09:30)

FINAL DIVIDEND PAYMENT DATE

Bellevue Healthcare Trust (Red), Breedon Group , Glanbia (CDI), Hikma Pharmaceuticals, International Personal Finance, Maven Income and Growth VCT 5, Mobius Investment Trust , Murray International Trust, Pearson, Persimmon, Schroder European Real Estate Investment Trust, Somero Enterprises Inc. (DI), Synectics

Q1

International Consolidated Airlines Group SA (CDI)