FOCUS OF THE WEEK!
Dear traders,
The first week of March is full of significant statistics, including the meetings results of the Central Bank of Australia, Canada and the Eurozone. Also this week there will be data on GDP and employment in key countries.
Earlier this week, market attention will be focused on the Reserve Bank of Australia meeting results and data on business activity in the non-manufacturing sector. Of particular note is the RBA meeting, from which they expect to save rates. But very optimistic forecasts for the Australian economy may support the national currency.On Wednesday, you should pay attention to the data on Australian GDP and the results of the Bank of Canada meeting. The Central Bank of Canada is likely to keep interest rates unchanged and may lower a number of key expectations for the economy, putting pressure on the Canadian dollar.
On Thursday, the key event of the day will be the publication of the ECB meeting minutes and the subsequent press conference of the ECB President Draghi. Traditionally, the ECB will keep its monetary policy unchanged, but expect a rise in volatility from the press conference.
On Friday, the day is full of data on Japan’s GDP and employment in Canada, but the US employment report will be the main event of the day and week. It is expected that a relatively small number of new jobs were created in the USA in February. This is not strange amid significant growth in January. But overall expectations from this report remain positive.
The corporate reporting calendar is almost empty in the week. A small number of companies will publish their reports.
Of the fundamental drivers of the market, there are the US-China trade talks, which have not received a logical ending, remain open, except for a number of promising statements and the postponement of new tariffs from the US. (Anton Hanzenko)
Have a good trading week!
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