The Week Ahead: Key Economic Events to Watch for June 1 – 5, 2026

Overview

This week brings a busy economic calendar, with several high-impact releases likely to influence the US dollar, Australian dollar, Canadian dollar, and oil prices. Key events include the US ISM Manufacturing and Services PMIs, Australia’s quarterly GDP report, ADP private payrolls, US crude oil inventories, US nonfarm payrolls, and Canada’s employment data. Investors will be watching closely for signs of whether growth remains resilient, inflation pressures are easing, and labor markets are continuing to cool.

High Impact Economic Events

Monday 17:00 (GMT+3) – USA: ISM Manufacturing PMI (USD)

Wednesday 04:30 am (GMT+3) – Australia: GDP q/q (AUD)

Wednesday 15:15 (GMT+3) – USA – ADP Non-Farm Employment Change (USD)

Wednesday 17:00 (GMT+3) – USA: ISM Services PMI (USD)

Wednesday 17:30 (GMT+3) – USA: Crude Oil Inventories (USD)

Friday 15:30 (GMT+3) – USA: Nonfarm Employment Change (USD)

Friday 15:30 (GMT+3) – Canada: Employment Change (CAD)

Monday, June 1

17:00 – USA: ISM Manufacturing PMI (USD)

The Manufacturing PMI is a monthly survey of US manufacturing activity. It includes a composite index that indicates sector expansion if above 50% and contraction if below. The report tracks changes in key indicators like New Orders, Production, and Employment, offering insights into the manufacturing sector’s health and the broader economy.

US manufacturing expanded for a fourth straight month in April, with the ISM Manufacturing PMI holding steady at 52.7%. New orders and production continued to grow, though employment remained weak and inventories contracted. Price pressures intensified sharply, with the Prices Index rising to 84.6%, its highest level since April 2022. Export orders contracted for a second month, while supplier deliveries slowed further, pointing to ongoing supply-chain strain. Overall, the report suggests manufacturing is still expanding, but rising costs, weaker hiring, and negative sentiment around the Iran War and tariffs remain key concerns.

Economists expect the next Manufacturing PMI reading to tick up to 53.3.

Wednesday, June 3

04:30 am – Australia: GDP q/q (AUD)

The total market value of all goods and services produced within Australia during a specific time period is known as the GDP.

Australia’s economy expanded by 0.8% in the December quarter of 2025, while annual GDP growth reached 2.6%, marking the fastest yearly pace in nearly three years and beating expectations of 2.2%. The result extended Australia’s growth streak to 17 consecutive quarters, supported by both private and public demand. With the next GDP release due on June 3, 2026, attention now turns to whether the economy can maintain momentum in early 2026 amid changing domestic and global conditions.

Analysts expect Australia’s growth to continue, but at a slower pace of 0.5%.

15:15 – USA – ADP Non-Farm Employment Change (USD)

The ADP Nonfarm Employment Changetracks the monthly change in employment across 19 manufacturing sectors in the US, excluding the agriculture and government sectors, based on the aggregated and anonymized payroll data of more than 25 million US employees.

Employment growth may have a positive effect on the US dollar quotes.

Private-sector hiring strengthened in April, with employers adding 109,000 jobs. The increase was supported by continued gains in health care and a recovery in trade, transportation, and utilities, making it the strongest month for job creation since January 2025. Hiring was strongest among small and large businesses, while mid-sized firms showed some weakness. Large companies benefited from greater resources, while smaller firms were better able to adapt quickly in a challenging labor market.

Economists expect private-sector employment to increase by 116,000 jobs in the next report.

17:00 – USA: ISM Services PMI (USD)

The ISM Services PMI measures activity in the US service sector for the reporting month. It is derived from a survey of supply executives in the services sector. Readings above 50 can have a positive effect on US dollar quotes.

The US services sector expanded for the 22nd consecutive month in April, with the ISM Services PMI easing slightly to 53.6 from 54 in March. Business activity improved, while new orders slowed sharply, and employment remained in contraction for a second month. Price pressures stayed elevated, with the Prices Index holding at 70.7, its highest level since October 2022, supported by higher oil and fuel costs. Overall, the report points to continued services growth, but with softer demand momentum, weak hiring, and persistent cost pressures.

Economists expect the next ISM Services PMI to come in at 53.8.

17:30 – USA: Crude Oil Inventories (USD)

The Crude Oil Stocks Change Indicator is published weekly by the Energy Information Administration (EIA). It gauges the volume (barrels) of commercial crude oil held by US companies, influencing global oil prices. Increasing stocks signal reduced oil demand, potentially leading to a decline in oil barrel prices.

US crude oil inventories fell by 3.3 million barrels in the week ending May 22, while total commercial petroleum stocks dropped by 8.3 million barrels. Refineries increased activity, operating at 94.5% of capacity, with higher gasoline and distillate fuel production. Crude imports declined sharply, and gasoline and distillate inventories also fell, remaining below their five-year averages. Overall, the report points to stronger refinery demand, lower supply levels, and continued tightness in key fuel inventories.

Friday, June 5

15:30 – USA: Nonfarm Employment Change (USD)

The Nonfarm Payrollsreport reveals the number of new jobs created during the given month in all non-agricultural sectors of the US.

Growth in the indicator may have a positive effect on dollar quotes.

US job growth slowed in April, with nonfarm payrolls rising by 115,000 while the unemployment rate held steady at 4.3%. Job gains were led by health care, transportation and warehousing, and retail trade, while federal government employment continued to decline. Wage growth remained moderate, with average hourly earnings rising 0.2% on the month and 3.6% from a year earlier. Overall, the report points to a cooling but still resilient labor market, with weaker hiring momentum and some signs of pressure from rising part-time employment.

Economists expect the nonfarm payrolls to rise by 95,000 in the next report.

15:30 – Canada: Employment Change (CAD)

Change in the number of employed individuals in the previous month. In general, when the actual figure is greater than the forecast, it is positive for the currency.

Canada’s job market softened slightly in April. Employment was almost unchanged, falling by 18,000 jobs, while the unemployment rate rose to 6.9% as more people looked for work. Youth unemployment increased to 14.3%, showing that younger workers faced more pressure. Job losses were mainly seen in Quebec, Newfoundland and Labrador, Saskatchewan, and New Brunswick, while Ontario added jobs. Wages continued to rise, with average hourly pay up 4.5% from a year earlier.

Economists expect employment in Canada to rise by 10,200 jobs in the next report.

Company Earnings (June 1 – 5)

Monday, June 1: HPE (Hewlett Packard Enterprise Company)

Wednesday, June 3: AVGO (Broadcom Inc.)

Thursday, June 4: LULU (lululemon athletica inc.)

Conclusion

Overall, this week’s data will give investors a clearer view of growth, inflation, labor market strength, and energy demand. Stronger-than-expected figures could support the relevant currencies, while weaker results may raise concerns about slowing economic momentum. With major releases from the US, Australia, and Canada, market volatility could increase, especially around the midweek and Friday announcements.