Week's main events (April 25 – April 29)

A number of Q1 GDP data will be released this week in the US, Canada, Germany, the Eurozone, South Korea, and Taiwan. Initial inflation data are highly anticipated in the Eurozone report, as well as Australia and Singapore CPI figures reports. Meanwhile, the Bank of Japan meeting will be held to update its outlook. The Caixin China General Manufacturing PMI will also examine China’s manufacturing health amid the latest COVID-19 disruptions. Nearly 180 companies in the S&P 500, which is worth about half the market value of the benchmark index, are expected to release their results this week, including the four largest US companies by market capitalization: Apple, Microsoft, Amazon, and Google.

Monday, April 25
On Monday, traders will focus on consumer price index data in Singapore and the release of the IFO research Institute. According to analysts, inflation in Singapore will rise from 4.3% to 4.7% year on year, and IFO data will show another slowdown in business activity in Germany. It's a bank holiday in Australia, New Zealand, and Italy.
Main events of the day:
  • – Singapore Consumer Price Index (m/m) at 08:00 (GMT+3);
  • – Eurozone Germany Ifo Business Climate (m/m) at 11:00 (GMT+3);
  • – Canada Boc Gov Macklem Speaks at 18:00 (GMT+3).
Tuesday, April 26
On Tuesday, traders will closely monitor US Core Durable Goods Orders and Japan Unemployment Rate. These data are not so significant but have a serious impact on volatility.
Main events of the day:
  • – Japan Unemployment Rate (m/m) at 02:30 (GMT+3);
  • – US Core Durable Goods Orders (m/m) at 15:30 (GMT+3);
  • – US New Home Sales (m/m) at 17:00 (GMT+3);
  • – US CB Consumer Confidence (m/m) at 17:00 (GMT+3).
Wednesday, April 27
On Wednesday, investors will focus on the Australia Consumer Price Index for the firsts quarter. Analysts expect a jump in annual inflation from 3.5% to 4.6%. The Reserve Bank of Australia is on track to tighten monetary policy, so rising inflation indicators may significantly support the Australian dollar amid expectations of an imminent interest rate hike. Traders' attention should also be focused on crude oil inventory data. The oil market is extremely volatile now, so such news will cause a sharp increase in volatility.
Main events of the day:
  • – Australia Consumer Price Index (q/q) at 04:30 (GMT+3);
  • – US Pending Home Sales (m/m) at 17:00 (GMT+3);
  • – US Crude Oil Reserves (w/w) at 17:30 (GMT+3).
Thursday, April 28
The US GDP for the quarter will be at the center of investors' attention on Thursday, as well as the Outlook Report and Interest Rate Decision from the Bank of Japan. The first estimate of US Q1 GDP points to 1.0% growth for the first three months of 2022. But analysts expect a below-consensus print. No change is expected from the Bank of Japan, which remains committed to its ultra-soft monetary policy, even as many advanced economies continue to raise rates. But the volatility of currency pairs with the Japanese yen will essentially increase.
Main events of the day:
  • – Japan Retail Sales (m/m) at 02:50 (GMT+3);
  • – Australia Retail Sales (q/q) at 04:30 (GMT+3);
  • – Japan BoJ Monetary Policy Statement at 06:00 (GMT+3);
  • – Japan BoJ Interest Rate Decision at 06:00 (GMT+3);
  • – Japan BoJ Outlook Report at 06:00 (GMT+3);
  • – Japan BoJ Press Conference (tentative);
  • – Eurozone Spanish Consumer Price Index (m/m) at 10:00 (GMT+3);
  • – Eurozone ECB Economic Bulletin (m/m) at 11:00 (GMT+3);
  • – Eurozone German Consumer Price Index (m/m) at 15:00 (GMT+3);
  • – US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
  • – US GDP (q/q) at 15:30 (GMT+3);
  • – US Natural Gas Storage (w/w) at 17:30 (GMT+3).
Friday, April 29
The most important Friday release is the US PCE price index (Personal Income and Spending), which is included in the Fed's list of inflation indicators. Investors will also focus on Eurozone's and Canada's GDP data. Germany will also publish GDP data for the quarter, and France will update the inflation rate. It's a bank holiday in Japan.
Main events of the day:
  • – Australia Producer Price Index (m/m) at 04:30 (GMT+3);
  • – China Caixin Manufacturing PMI (m/m) at 04:45 (GMT+3);
  • – Switzerland Retail Sales (m/m) at 09:30 (GMT+3);
  • – Eurozone French Consumer Price Index (m/m) at 09:45 (GMT+3);
  • – Eurozone French Consumer Price Index (m/m) at 09:45 (GMT+3);
  • – Switzerland SNB Chairman Jordan Speaks at 11:00 (GMT+3);
  • – Eurozone German GDP (q/q) at 11:00 (GMT+3);
  • – Eurozone Italian Consumer Price Index (m/m) at 12:00 (GMT+3);
  • – Eurozone Consumer Price Index (m/m) at 12:00 (GMT+3);
  • – Eurozone GDP (q/q) at 12:00 (GMT+3);
  • – Canada GDP (m/m) at 15:30 (GMT+3);
  • – US PCE price index (m/m) at 15:30 (GMT+3);
  • – US Michigan Consumer Sentiment (m/m) at 17:00 (GMT+3).

by JustMarkets, 2022.04.25

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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