Strategists forecast a weak 60k nonfarm payrolls print and a rise in ISM manufacturing to 53.7, shaping Fed rate expectations.
Upcoming US economic data will steer the Dollar and Treasury yields this week, with nonfarm payrolls and ISM manufacturing surveys in focus. Strategists anticipate a soft payrolls print of 60k and a rise in unemployment to 4.4%, reinforcing dovish expectations for Federal Reserve policy.
The ISM manufacturing index is projected to climb to 53.7 in May, up 1 point from prior levels, driven by a rebound in production. Consensus estimates had set the figure at 53.0. The prices paid index will also draw attention amid persistent oil price pressures, potentially signaling continued cost burdens for producers.
Recent volatility in US rates stemmed from shifting Iran headlines and month-end flows, with Treasuries extending 0.10 years at month-end. Markets will also monitor JOLTS, ADP, and ISM services data, alongside Supreme Court rulings expected Thursday.