Investors will face a lighter schedule on the economic data side, as the monthly run of housing data picks up with homebuilder sentiment, home prices, and housing starts data all set to cross the wires.
Wednesday’s Beige Book report from the Fed will also set the table for the Fed’s discussion of the economic environment at its next policy meeting, which is set to begin in just over two weeks on 2nd May.
Retail sales and industrial production data out Friday, in addition to Thursday’s initial claims reading, however, suggested the economy is softening on the margins and will likely weaken further in the coming months.
The Eurozone, the U.S. and the U.K. are to release PMI (purchasing managers index) data on Friday and market watchers will be on the lookout for signs of whether the recent turmoil in the banking sector is already affecting economic growth.
The U.K. is to release February employment data on Tuesday, followed by March inflation data a day later, which could determine whether Bank of England officials decide to hike interest rates by another 25 basis points at their meeting next month.
Inflation unexpectedly rose to 10.4% in February, pushed up by higher prices for food, data that likely cemented the case for March’s rate hike. Economists expect inflation to return to single digits in March, but this would still be well above the rate of inflation seen in the rest of Europe and the U.S.
With all these reports and more, have your trading charts ready!
This Week’s High Impact Events
The times below are GMT +3.
Monday 17th April
15.30 – US – Empire State Manufacturing Index
Potential instruments to Trade: USD Crosses.
Tuesday 18th April
09.00 – UK – Claimant Count Change
Potential instruments to Trade: GBP Crosses.
15.30 – Canada – CPI m/m
Potential instruments to Trade: CAD Crosses.
18.00 – Canada – BoC Gov Macklem Speaks
Potential instruments to Trade: CAD Crosses.
Wednesday 19th April
09.00 – UK – CPI y/y
Potential instruments to Trade: GBP Crosses.
10.00 – Switzerland – Gov Board Member Maechler Speaks
Potential instruments to Trade: CHF Crosses.
Thursday 20th April
01.45 – New Zealand – CPI q/q
Potential instruments to Trade: NZD Crosses.
15.30 – US – Unemployment Claims, Philly Fed Manufacturing Index
Potential instruments to Trade: USD Crosses.
15.45 – US – FOMC Member Waller Speaks
Potential instruments to Trade: USD Crosses.
17.00 – US – Existing Home Sales
Potential instruments to Trade: USD Crosses.
18.30 – Canada – BoC Gov Macklem Speaks
Potential instruments to Trade: CAD Crosses.
Friday 21st April
From 10.15 – Europe – Flash Manufacturing, Flash Services PMI
Potential instruments to Trade: EUR Crosses.
11.30 – UK – Flash Manufacturing, Flash Services PMI
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