Week's main events (April 10 – April 14)

This week, the main focus of investors will be on inflation data in the United States as well as US FOMC Meeting Minutes. Analysts expect a decline in US inflation, while the FOMC protocol will be examined for further interest rate developments. The Bank of Canada will hold its policy meeting on Wednesday and is expected to leave rates unchanged. Central bankers and finance ministers will meet on Monday in Washington as the World Bank and the International Monetary Fund begin their spring meeting. The IMF will release its updated global growth forecast on Tuesday amid concerns about high inflation and risks to financial stability. The US reporting season for the first quarter of 2023 begins at the end of this week. Major banks, including JPMorgan (JPM) and Citigroup (C), will report Friday.

Monday, April 10
Monday will be a bank holiday in many countries (including Canada, Great Britain, Germany, France, Spain, Italy, Switzerland, Norway, Hong Kong, Singapore, Australia, and New Zealand). Among the financial markets, only the US stock and futures market will operate. Volatility will be low.
Main events of the day:
  • – US FOMC Member Williams Speaks at 23:15 (GMT+3).
Tuesday, April 11
Tuesday's main event will be inflation data from China. Economists forecast a rise in consumer inflation from 1% to 1.9% year-on-year. This data has a significant impact on Asian indices.
Main events of the day:
  • – China Consumer Price Index (q/q) at 04:30 (GMT+3);
  • – China Producer Price Index (q/q) at 04:30 (GMT+3);
  • – Eurozone Retail Sales (m/m) at 12:00 (GMT+3);
  • – US EIA Short-Term Energy Outlook at 19:00 (GMT+3).
Wednesday, April 12
Wednesday will bring various statistics for many countries. The US inflation data (CPI) is the most important release for investors. Analysts expect inflation to fall from 6.0 to 5.2% year-on-year. However, core inflation (excluding food and energy prices) could rise further. Investors should also focus on the Bank of Canada's monetary policy meeting. The BoC is expected to leave rates unchanged, indicating signs of a strengthening economy. Also, traders should not miss the FOMC Meeting Minutes, which significantly impact the US dollar. The Fed minutes will be scrutinized for hints of a desire for further policy tightening, as well as officials' views on the state of the financial system.
Main events of the day:
  • – US FOMC Harker Speaks at 01:00 (GMT+3);
  • – US FOMC Kashkari Speaks at 02:30 (GMT+3);
  • – Japan Producer Price Index (m/m) at 02:50 (GMT+3);
  • – Indian Consumer Price Index (m/m) at 15:00 (GMT+3);
  • – US Consumer Price Index (m/m) at 15:30 (GMT+3);
  • – UK BoE Gov Bailey Speaks at 16:00 (GMT+3);
  • – Canada BoC Interest Rate Decision at 17:00 (GMT+3);
  • – Canada BoC Monetary Policy Report at 17:00 (GMT+3);
  • – US Crude Oil Reserves (w/w) at 17:30 (GMT+3);
  • – Canada BoC Press Conference at 18:00 (GMT+3);
  • – US FOMC Meeting Minutes at 21:00 (GMT+3);
  • – UK BoE Gov Bailey Speaks at 22:15 (GMT+3).
Thursday, April 14
The most important Thursday release for investors will be the data on US factory inflation (PPI), which is considered a precursor to consumer inflation. No surprises are expected, but volatility in currency pairs with the US dollar will increase. Investors should also pay attention to the weekly report on the number of US jobless claims and on German inflation data.
Main events of the day:
  • – Australia Unemployment Rate (m/m) at 04:30 (GMT+3);
  • – China Trade Balance (m/m) at 06:00 (GMT+3);
  • – UK GDP (m/m) at 09:00 (GMT+3);
  • – UK Industrial Production (m/m) at 09:00 (GMT+3);
  • – UK Manufacturing Production (m/m) at 09:00 (GMT+3);
  • – UK Trade Balance (m/m) at 09:00 (GMT+3);
  • – German Consumer Price Index (m/m) at 09:00 (GMT+3);
  • – Eurozone Industrial Production (m/m) at 12:00 (GMT+3);
  • – US Producer Price Index (m/m) at 15:30 (GMT+3);
  • – US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
  • – Canada BoC Gov Macklem Speaks at 16:00 (GMT+3);
  • – US Natural Gas Storage (w/w) at 17:30 (GMT+3).
Friday, April 14
Several European countries will publish CPI inflation data on Friday. In turn, US retail sales data will show how consumers feel at a time of high-interest rates. A fall in the figures would indicate that consumers are increasingly feeling price pressures.
Main events of the day:
  • – Switzerland Producer Price Index (m/m) at 09:30 (GMT+3);
  • – French Consumer Price Index (m/m) at 09:45 (GMT+3);
  • – Spain Consumer Price Index (m/m) at 10:00 (GMT+3);
  • – US Retail Sales (m/m) at 15:30 (GMT+3);
  • – US Industrial Production (m/m) at 16:15 (GMT+3);
  • – US Michigan Consumer Sentiment (m/m) at 17:00 (GMT+3).

by JustMarkets, 2023.04.10

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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