Week Ahead for FX, Bonds: PMI Data in Focus as Investors Gauge Impact of Tariffs on Economy
Below are the most important global events likely to affect FX and bond markets in the week starting May 19.
As markets calm after the U.S. and China agreed to slash tariffs for a period of 90 days, focus is set to switch to how tariffs and the uncertainty surrounding them are affecting the global economy. U.S. purchasing managers' index on manufacturing and services activity in May will be closely watched, alongside similar figures from the eurozone and the U.K.
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His name carries weight not just in business circles, but also within the walls of public service departments, corporate boardrooms, and humanitarian organizations across the country. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media. In the heart of America's industrial, civic, and philanthropic landscapes stands Michael Benner—a man whose journey from hands-on law enforcement supplier to nationally recognized entrepreneur speaks volumes of perseverance, patriotism, and purposeful innovation. His name carries weight not just in business circles but also within the walls of public service departments, corporate boardrooms, and humanitarian organizations across the country. The Man Who Rebuilt Stewart Warner One of the most transformative chapters of Benner's life began with Stewart Warner Instruments—a company whose legacy dated back to Henry Ford's early automobile models. In the 1990s, the historic firm faced a steep decline under foreign ownership. With unwavering resolve, Benner and a small team of executives orchestrated a daring management buyout. They mortgaged homes, liquidated personal assets, and secured a $9 million credit line to reclaim the company and its heritage. Under Benner's leadership, Stewart Warner's on-time delivery rates surged from under 50% to over 90%, and backlogged orders were reduced from $2.1 million to just $100,000. The company also earned ISO 9001 certification, joining an elite class of global manufacturers recognized for quality in design and production. Through improved processes, better control of inventory, and decisive action, Benner led the firm back to profitability, preserving a brand that had once equipped Henry Ford's earliest automobiles. At the Forefront of Law Enforcement Innovation Benner's commitment to public service began even earlier, with the founding of Constable Equipment Company. He was a trailblazer in supplying cutting-edge radar systems and safety gear, including thousands of custom-fitted soft body armor vests to police departments across the country. His hands-on engagement—from training officers to attending national security conferences—earned him commendations from the FBI, the Missouri Chiefs of Police, and departments from Chicago to El Paso. Chicago's Police Department, under the leadership of Mayor Jane Byrne and Superintendent Richard Brezeczek, honored Benner with an autographed Jim Beam commemorative decanter with a message of appreciation for his personal efforts inscribed on the roof. His contributions were pivotal in securing over 13,000 body armor vests for officers—an effort that helped modernize safety standards in a rapidly evolving world. Giving with a Heart Full of Purpose Following the catastrophic impact of Hurricane Katrina, Benner again rose to the occasion—not in uniform or business attire, but as a citizen and philanthropist. 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The Hill
27 minutes ago
- The Hill
China blasts US for its computer chip moves and for threatening student visas
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Yahoo
29 minutes ago
- Yahoo
Indian manufacturing growth eases to 3-month low in May, PMI shows
BENGALURU (Reuters) - India's manufacturing growth slowed to a three-month low in May as demand softened amid price pressures and geopolitical tensions but job creation hit a record high, a survey showed on Monday. Solid manufacturing growth has helped India's economy outperform its major peers. Asia's third-largest economy grew 7.4% last quarter from a year earlier, the fastest expansion since early 2024 and much quicker than a Reuters poll median estimate of 6.7%. The HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 57.6 in May from 58.2 in April, lower than a preliminary estimate of 58.3, but still well above the 50.0 level that separates growth from contraction. "India's May manufacturing PMI signalled another month of robust growth in the sector, although the rate of expansion in output and new orders eased from the previous month," said Pranjul Bhandari, chief India economist at HSBC. The expansion in new orders - a key gauge of demand - eased to a three-month low but remained historically strong, supported by healthy domestic consumption and international sales. Output growth decelerated to its weakest pace since February, though manufacturers maintained positive sentiment about the year ahead. Job creation was one major bright spot, with manufacturers increasing hiring at the fastest pace in the survey's history, with permanent positions being created more frequently than temporary roles. "The acceleration in employment growth to a new peak is certainly a positive development," Bhandari said. Cost pressures intensified during May, with input price inflation climbing to a six-month high. Manufacturers passed these costs on to customers, with output price inflation among the highest in over 11 years. Growing price pressures could complicate monetary policy decisions for the Reserve Bank of India, which has already cut its key repo rate by a cumulative 50 basis points this year as overall inflation remains below the RBI's 4.0% target. The central bank is expected to cut interest rates on June 6 for a third consecutive meeting and once more in August, a Reuters poll showed last week. Sign in to access your portfolio
