- Canada’s April Manufacturing PMI eased to 49.4 from the previous 49.8, missing the forecast improvement to 50.2.
- US ISM Manufacturing PMI also eased to 49.2 from the previous month’s 50.3, falling below the forecast 50.0.
- US ADP Employment Change for April came in at 192K, slightly down from the previous 208K (revised up from 184K), but beating the forecast 175K.
- Fed broadly expected to hold rates on Wednesday, but investors are hoping for signs the Fed will get pushed towards rates sooner rather than later.
- Employment figures could throw a wrench in rate cut hopes with Friday’s US NFP labor data wrapping up the trading week.
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