The Business News Week Ahead

Manufacturing will be a highlight in a week that will end with the US employment report and include several central bank announcements. The first by the Reserve Bank of Australia will be early on Tuesday and is too close to call with a rate cut a real possibility in what would extend this year's dovish tilt for global monetary policy. On Thursday the Reserve Bank of India may well cut rates again though for the European Central Bank, which will also make an announcement on Thursday, no action is the call. Yet the ECB's reaction to Brexit risk and the US-China trade war may yet put a dovish tilt on this meeting as well. Heavyweight market-moving data begin Monday with ISM manufacturing out the US and with forecasters looking for steady conditions after unexpected slowing in April. A risk for the ISM report is slowing export demand as it is for German manufacturing orders and German industrial production which will be posted on Thursday and Friday. The highlight on Friday will be the US employment report where expectations are pointing to general strength in May following robust strength in April, results that would underscore the fundamental strength of labor demand.