Upcoming Key Events and Data Releases Next Week—U.S. Non-Farm Payrolls; China Trade Balance, Refined Oil Price Adjustment Window Opens; Trump Threatens to Increase EU-U.S. Auto Tariffs

1. Monday: ①Data: Final April Manufacturing PMI for France, Germany, Eurozone; Eurozone May Sentix Investor Confidence Index; U.S. March Factory Orders Monthly Rate. ②Holidays: Japan, UK, Hong Kong, Mainland China closed. ③Trump threatens to impose a 25% tariff on EU-made cars exported to the U.S. this week.
2. Tuesday: ①Data: May Reserve Bank of Australia interest rate decision; Swiss April CPI; U.S. March Trade Balance, April S&P Global Services and Composite PMI final, ISM Non-Manufacturing PMI, March JOLTS Job Openings, New Home Sales Annualized. ②Events: Fed Williams delivers a speech; Bank of Canada Governor Macklem and Senior Deputy Governor Rogers attend parliamentary hearings; RBA announces interest rate decision and monetary policy statement, Chair Lowe holds a press conference; Saudi Aramco announces official crude oil prices around the 5th of each month. ③Holidays: South Korea, Japan, Hong Kong, Mainland China closed. ④Earnings: Pfizer, AMD.
3. Wednesday: ①Data: U.S. API, EIA Weekly Crude Oil Reports, April ADP; China April Caixin Services PMI; UK, France, Germany, Eurozone April Services PMI final; Eurozone March PPI. ②Events: Fed's Mester speaks on economic outlook and monetary policy; central bank conducts 3-month 300 billion yuan reverse repurchase operations. ③Holidays: Japan closed. ④Earnings: Walt Disney, ARM.
4. Thursday: ①Data: France March Trade Balance; Swiss April Seasonally Adjusted Unemployment Rate; Eurozone March Retail Sales Monthly Rate; U.S. April Challenger Job Cuts, Initial Jobless Claims, March Construction Spending Monthly Rate, EIA Natural Gas Inventories, NY Fed 1-Year Inflation Expectations, China April Foreign Exchange Reserves. ②Events: Fed's Goolsbee participates in a panel discussion at a conference.
5. Friday: ①Data: Germany March Seasonally Adjusted Industrial Production Monthly Rate, Trade Balance; Swiss April Consumer Confidence Index; Canada April Employment; U.S. April Non-Farm Payrolls; Initial estimates of 1-year inflation expectations, University of Michigan Consumer Sentiment Index, March Wholesale Sales Monthly Rate. ②Events: Fed's Harker and Williams deliver speeches; domestic refined oil prices will open a new round of price adjustment window.
6. Saturday: ①Data: U.S. Weekly Crude Oil Rig Count; China April Trade Balance. ②Events: Fed's Goolsbee and Daly participate in a special discussion at the Hoover Institution's 2026 monetary policy conference; Putin will deliver an important speech at Victory Day parade.