On the Macro
It’s a busy week ahead on the economic calendar, with 63 stats in focus in the week ending 16th April. In the week prior, 36 stats had been in focus.
For the Dollar:
After a quiet Monday, March inflation figures will get things going on Tuesday. In spite of the FED’s assurances of unwavering support, a pickup in inflationary pressure will be a test for the markets.
The focus will then shift to a particularly busy day on the economic calendar.
Key stats include March retail sales, jobless claims, and Philly FED Manufacturing PMI numbers.
Business inventory and industrial production figures are also due out but will likely have limited impact.
At the end of the week, prelim consumer sentiment figures for April will also draw attention on Friday.
In the week ending 9th April, the Dollar Spot Index slid by 0.92% to 92.163.
For the EUR:
It’s a relatively busy week ahead on the economic data front.
Early in the week, Eurozone retail sales and economic sentiment figures for Germany and the Eurozone will be in focus.
Expect Germany’s ZEW economic sentiment figures to have the greatest impact.
Mid-week, industrial production figures for the Eurozone.
Wrapping up the week, March inflation and trade data for the Eurozone will draw attention.
Other stats in the week include inflation figures for France, Germany, Italy, and Spain. We don’t expect the numbers to have an impact on the EUR, however.
The EUR ended the week up by 1.19% to $1.1899.
For the Pound:
It’s a relatively busy week ahead on the economic calendar.
Retail sales figures are due out early Tuesday ahead of industrial and manufacturing production figures later in the day.
February trade figures will also be in focus on Tuesday. Expect more interest in the numbers, as the markets look for the effects of Brexit on trade terms.
The Pound ended the week down by 0.90% to $1.3707.
For the Loonie:
It’s a relatively quiet week ahead on the economic calendar.
The markets will have to wait until Thursday for manufacturing sales figures. With little else to consider, the numbers will draw attention ahead of wholesale sales numbers on Friday.
Mid-week, OPEC and the IEA’s monthly report, crude oil inventory numbers will also influence.
From the Bank of Canada, the Business Outlook Survey will provide direction at the start of the week.
Away from the economic calendar, expect economic data from China to also influence…
The Loonie ended the week up 0.38% to C$1.2530 against the U.S Dollar.
Out of Asia
For the Aussie Dollar:
It’s a busier week ahead.
Key stats include business and consumer confidence figures in the 1st half of the week.
In the 2nd half of the week, March employment numbers are also due out.
Expect plenty of Aussie Dollar sensitivity to the numbers. Business investment and consumer spending are both key to the economic recovery. Any weakening in consumer or business confidence will test support for the Aussie Dollar.
Improving labor market conditions will also be a must.
The Aussie Dollar ended the week up by 0.17% to $0.7623.
For the Kiwi Dollar:
It’s a relatively quiet week ahead.
Key stats include electronic card retail sales and business PMI numbers.
While we can expect the numbers to influence, the RBNZ monetary policy decision is the main event of the week.
With the markets expecting the RBNZ to stand pat, the focus will be on the RBNZ Rate Statement.
The Kiwi Dollar ended the week up by 0.01% to $0.7033.
For the Japanese Yen:
It is a quiet week ahead.
There are no material stats to provide the Yen with direction. The lack of stats will leave the Yen in the hands of market risk sentiment in the week.
The Japanese Yen rose by 0.92% to ¥109.67 against the U.S Dollar.
Out of China
It’s a relatively busy week ahead.
Early in the week trade data for March will be in focus. Expect plenty of interest in the numbers. The markets will be looking for a sustained improvement in trade terms.
At the end of the week, 1st quarter GDP numbers and March industrial production figures will be in focus.
Other stats include retail sales, fixed asset investment, and unemployment figures. While the numbers tend to draw attention, 1st quarter GDP numbers will overshadow these stats at the end of the week.
The Chinese Yuan ended the week up by 0.22% to CNY6.5526 against the U.S Dollar.
Geo-Politics and COVID-19
U.S foreign policy will remain the main area of focus for the markets, with U.S – China relations key.
For the Eurozone, vaccination roll-outs and COVID-19 news updates will also be in focus in the week ahead.
Earning season also kicks off in the week ahead.
Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo are big names delivering results in the week