The week ahead – Economic data, the FED and COVID-19 news at a glance
On the macro
It’s a busier week ahead on the economic calendar, with 58 stats at the center of the week ending 30e April. During the previous week, 46 statistics had been finalized.
For the dollar:
Durable and basic durable goods orders as well as consumer confidence figures are expected at the start of the week.
Expect core durable goods and Consumer Confidence Index numbers to have the biggest influence.
Thursday, the accent will change to 1st Quarterly GDP and jobless claims figures.
While the jobless claims numbers will have an influence, expect the GDP numbers to be key for the day.
At the end of the week, personal spending and the preferred numbers from the Fed’s Core PCE Price Index will be the focus of attention.
On the monetary policy front, the Fed is also in action on Wednesday. Since the markets expect the Fed to abide by its policy, rate reporting will be the primary area of interest.
During the week, the dollar ended the week down 0.76% to 90.859.
It’s also a busy week on the economic data front.
German business sentiment and consumer confidence are shaking things up.
Expect both sets of numbers to influence Monday and Wednesday.
On Thursday, the German economy is back on track, with unemployment figures expected.
With worries about Germany’s economic outlook lingering, expect any jump in unemployment to test the euro.
At the end of the week, 1st Quarterly GDP figures for the euro area and member states will also be the focus of attention.
Other statistics include April inflation figures, French consumer spending and unemployment figures for the euro area.
Barring particularly dire numbers, however, we don’t expect too much of an influence from the numbers.
The euro ended the week up 1.00% to $ 1.2097.
For the pound:
It’s a particularly quiet week ahead on the economic calendar.
There are no major statistics from the UK to provide direction for the pound.
A lack of statistics will leave the pound in the hands of COVID-19 news and market risk sentiment.
The pound ended the week up 0.70% to $ 1.3876.
For the loonie:
It’s a relatively busy week ahead on the economic calendar.
February’s retail sales figures will give the loonie some direction on Wednesday.
At the end of the week, the February GDP and March RMPI numbers will also have an influence.
Away from the economic calendar, expect GDP numbers in the US and beyond and crude oil prices to provide direction as well.
The loonie ended the week up 0.22% to C $ 1.2476 against the US dollar.
Outside of Asia
For the Australian dollar:
It’s a relatively quiet week ahead.
1st quarterly inflation figures are expected on Wednesday and Friday.
Expect the Australian dollar to be sensitive to the numbers.
Credit figures to the private sector for March are also expected at the end of the week.
The Australian dollar ended the week up 0.06% to $ 0.7739.
For the kiwi dollar:
It’s a quiet week ahead.
Markets will have to wait until Thursday for March trade data and April business confidence numbers.
We would expect both sets of numbers to influence.
Besides, wait 1st Quarterly GDP figures to also provide direction into the week.
The Kiwi dollar ended the week up 0.80% to $ 0.7199.
For the Japanese yen:
It’s also a relatively busy week ahead.
Retail sales figures will attract attention on Wednesday. Consumer spending remains essential for an economic recovery. In February, retail sales fell 1.5%.
The focus will then be on a busy Friday. The inflation and industrial production figures for March will be the focus.
Expect preliminary industrial production figures for March to have the biggest impact.
On the monetary policy front, the BoJ was also in action at the start of the week.
The Japanese yen rose 0.85 to 107.88 yen against the US dollar.
Outside of china
It’s a quiet week ahead.
Private sector PMI figures for April are due on Friday. Expect the numbers to influence market risk sentiment at the end of the week.
Far from the economic calendar, however, the gossip between the United States and China will also attract attention.
The Chinese yuan ended the week up 0.37% to CNY 6.4963 against the US dollar.
The United States and China as well as the United States and Russia are the main areas of focus for the coming week.
However, the markets will also need to watch out for any chatter coming from Iran. Progress towards a nuclear deal would be a positive outcome in the market.
In the United States, the big names include:
Tesla Inc (Monday), Alphabet Inc (Tuesday), Microsoft Corp (Tuesday), Apple Inc (Wednesday), Boeing Co (Wednesday), Ford Motor Co (Wednesday), Amazon.com Inc (Thursday), Exxon Mobil Corp (Friday )) and Chevron Corp (Friday).
From the EU:
Deutsche Bank (Wednesday) and Total SE (Thursday).
This article originally appeared on FX Empire