09th April 2018 – 13th April 2018
Early morning, we will see Trade Balance from Germany which a balance between exports and imports of total goods and services. Then from Canada we will see the Business Outlook Survey. This will give an indication as to how the short term economic confidence looks in Canada. A light day in terms of data as we will only PPI ex Food & Energy from USA. This measures the average changes in prices in primary markets of the US by producers of commodities in all states of processing. The big day of the week as we will see March US Inflation, minutes of the Fed’s rate hike meeting in march and a speech by ECB President Mario Draghi. The day will kick off with s speech from RBA Governor Philip Lowe. He is scheduled to speak on the recent developments in the Australian and global economies. Next up will be ECB Non-Monetary Policy meeting. The minutes of the meeting will be released next week only. Mario Draghi is expected to deliver a speech in Germany where he will have an opportunity to respond to the growing signs of a slowdown in the euro-zone economies, or at least the peak of the cycle, around December. UK will release Industrial and Manufacturing production and will give insights in to the outputs of UK factories. US will release the march inflation figures and this will be scrutinized by markets for any support for dollar as Inflation remains the missing ingredient in the US growth story. Despite healthy gains in jobs and decent GDP growth, inflation remains stubbornly low. Australia will release Home Loans figures and this is expected to be positive which should push the Aussie dollar up. Then it will be Industrial Production from Euro zone which shows the volume of production of Industries such as factories and manufacturing. This will be followed by Meeting minutes from the ECB Non-monetary policy meeting held in march where forecasts were hardly changed and Draghi made an effort to downplay the slightly more hawkish stance in the statement. The day will come to an end with the release of Initial Jobless Claims and Continuing Jobless Claims which are related to unemployment in US. Normally Chinese data release does not move the markets much, but Trade Balance figures release from China will be scrutinized as renewed jitters over trade tensions between the U.S. and China sent the dollar sliding last Friday. Then Germany will release their Harmonized Index of Consumer Prices which is a measure of prices used by Governing Council of EU to define and assess price stability in the euro area as a whole in quantitative terms. FED member Bullard is scheduled to make a speech in the evening while the day will end with Consumer Sentiment Index from Michigan which is a survey of personal consumer confidence in economic activity.Monday
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