FOCUS OF THE WEEK!
Dear traders,
The first week of April will be full of statistics, especially its beginning.
On Monday, the economic calendar is full of statistics, thanks to the publication of business activity in the manufacturing sector (PMI) of China, Europe and the USA. In addition to the PMI data on this day, you should pay attention to the data for Japan, the Eurozone and the USA. At the start of the day, data on the activity and mood of major manufacturers in Japan will be published, from which they are expected to slow down, which will have a restrained negative impact on the Japanese yen if confirmed.
At the European trading session, the attention will be focused on the preliminary data on inflation in the euro area, from which expect moderate statistics. The American session is full of statistics, among which it is necessary to highlight the data on retail sales in the US for February. The indicator remains very significant for the American economy. Very weak expectations can cause restraint against the US dollar.
On Tuesday, the saturation of the economic calendar will decrease. At the start of the day, the market’s attention will be focused on the results of the RBA meeting. The market expects that the Australian Central Bank will also signal a softening of monetary policy following the RBNZ. In the European session the data on construction in the UK and employment in the eurozone will be announced. In the American session, market attention will be focused on durable orders.
On Wednesday, the day is also full of data on business activity in the services sector (PMI). We should also single out the data on the Australian trade balance and the change in the number of people employed in the US non-farm sector, which will have a significant impact on national currencies.
On Thursday, the main event of the day will be the publication of the ECB’s monetary policy protocol, near which the main market movement is expected. Also on this day, there are data on business activity (PMI) of Canada.
On Friday at the beginning of the day, a decrease in market activity is expected due to the weekend in China and Hong Kong. The main event of Friday and the week in general will be the publication of the US employment report. Expectations regarding employment in the US remain discreetly positive after weak data on the growth in the number of people employed a month earlier.
The corporate reporting calendar is empty.
Of the fundamental news it is worth to highlight the vote on the Brexit deal in the UK Parliament, which will open the upcoming week. And the relationship between the EU and the UK will largely depend on how the UK government reaches.
Also in the week data on the US – China trade talks are expected, which will have to move to the United States. Therefore, new statements regarding trade relations are not excluded. (Anton Hanzenko)
Have a good trading week!
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