24th April 2017 - 28th April 2017
Monday The euro paired gains after scaling a five-month high against the dollar on Monday after the centrist candidate won the first round of the French presidential election, reducing the risk of an anti-establishment shock in the final round. Looking ahead, markets will continue to digest the French election R1 outcome ahead of the German IFO business climate data and Buba monthly report due to be published in the EUR session, while the UK docket offers the CBI industrial orders data. In the NA session today, the Canadian wholesale sales data will fill in an otherwise data-empty calendar. Meanwhile, FOMC member Kashkari’s speech will also grab some attention in the day ahead. Tuesday On Tuesday AUD & NZD markets will be closed for the Anzac Day. UK will release its Public Sector Net Borrowing report that captures an amount of new debt held by the U.K. governments. From U.S we will see CB Consumer Confidence. Wednesday On Wednesday, early morning AUD will release CPI. The consumer prices in Australia rose by 0.5 percent in the fourth quarter of 2016 after increasing by 0.7 percent in the previous quarter. For the 12 months to the December quarter, inflation rose by 1.5 percent compared to the increase of 1.3 percent registered for the twelve months’ period to the September quarter. It is expected that the increase in consumer prices for the first quarter of this year would be 0.6 percent. Thursday Busy day for forex market as key decisions like The Bank of Japan is to announce its benchmark interest rate and publish a policy statement which outlines economic conditions and the factors affecting the monetary policy decision. The announcement is to be followed by a press conference. In the euro zone, Germany is to release preliminary inflation data. Following the ECB is to announce its latest monetary policy decision. The announcement is to be followed by a press conference with President Mario Draghi. The U.S. will also release data on initial jobless claims, durable goods orders and pending home sales. Friday On Friday UK will release GDP data. U.K.’s economy expanded 0.6 percent in the last quarter of 2016 and beat analysts’ forecasts for a growth of 0.5 percent. The economic growth was driven by robust consumer spending in spite of the Brexit vote. However, many analysts are of the opinion that a slowdown would occur this year as inflation is expected to double this year and reduce household spending. The U.S. is to round up the week with what will be closely watched preliminary figures on first quarter growth, as well as a report on manufacturing activity in the Chicago region and revised data on consumer sentiment.
