Overview of the Week Ahead

The March jobs report takes center stage this week. The Labour Department’s monthly snapshot of U.S. employment will be closely watched by market participants and will carry special weight as Federal Reserve officials appear to signal more hawkishness in the central bank’s rate-hiking plans. Meanwhile, Core PCE, the Fed’s preferred inflation gauge, is also due out Wednesday and will offer further clues on how aggressive the next interest rate bump could be.

As inflation worries mount, consumers are getting wary about what’s ahead. The Conference Board’s Consumer Confidence Index due for release on Tuesday will show a timely snapshot of their thinking following the latest spike in prices. Economists surveyed by Bloomberg are looking for the index to fall to 107.0 for March following a read of 110.5 last month.

The Forex market is dominated by a weak Japanese Yen (influenced by the Bank of Japan’s pledge to continue monetary easing until its inflation target of 2% is reached) and a rising US Dollar. The USD/JPY currency pair continued to rise over the Tokyo session to trade at a new 6-year high above ¥121.50. It looks likely to advance higher still over the coming days, as the Bank of Japan pledged a few hours ago to purchase an unlimited amount of JGB bonds at 0.25% after the 10-year Yen yield hits 0.245%, the highest rate seen in 6 years.

Bitcoin broke out from its consolidating triangle over the weekend, and a few hours ago reached a 7-week high just below $48k.

Plan your trades carefully!

This Week’s High Impact Events

The times below are GMT +3.

Monday 28^th March

• 14.00 – UK – BoE Gov. Bailey Speaks

Potential instruments to Trade: GBP Crosses. 

Tuesday 29^th March

• 09.30 – Switzerland – Gov. Board Member Zurbrugg Speaks

Potential instruments to Trade: CHF Crosses. 

• 17.00 – US – JOLTS Job Openings & CB Consumer Confidence

Potential instruments to Trade: USD Crosses. 

Wednesday 30^th March

• 03.00 – New Zealand – ANZ Business Confidence

Potential instruments to Trade: NZD Crosses. 

• 11.10 – GBP – MPC Member Broadbent Speaks

Potential instruments to Trade: GBP Crosses. 

• 15.15 – US – ADP Non-Farm Employment Change

Potential instruments to Trade: USD Crosses. 

• 15.30 – US – Final GDP q/q

Potential instruments to Trade: USD Crosses. 

• 17.30 – US – Crude Oil Inventories

Potential instruments to Trade: USD & CAD Crosses. 

Thursday 31^st March

• All-Day – OPEC-JMMC Meetings

Potential instruments to Trade: All Crosses. 

• 15.30 – Canada – GDP m/m

Potential instruments to Trade: CAD Crosses. 

• 15.30 – US – Core PCE Price Index m/m & Unemployment Claims

Potential instruments to Trade: USD Crosses. 

• 16.45 – US – Chicago PMI

Potential instruments to Trade: USD Crosses. 

• 18.00 – Switzerland – Gov Board Member Maechler Speaks

Potential instruments to Trade: CHF Crosses. 

Friday 1^st April

• 15.30 – US – Average Hourly Earnings m/m, Non-Farm Employment Change, & Unemployment Rate

Potential instruments to Trade: USD Crosses. 

• 17.00 – US – ISM Manufacturing PMI

Potential instruments to Trade: USD Crosses. 

For more information – https://errante.net/economic-calendar/

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