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The Week Ahead







US earnings season is right on the conner, with the banks will start off the reporting season.

In economic data, the ECB meets to decide policy.

we also get Fed minutes and UK GDP.

EU leaders also meet to discuss a possible extension to the Article 50 process for the UK.



Week Reports


Monday;

  • 7am – German trade balance (February): surplus expected to widen to €16.5 billion. Markets to watch: EUR crosses

  • 3pm – US factory orders (February): orders forecast to fall 0.6% MoM. Markets to watch: USD crosses

Wednesday;

  • Brexit summit in Brussels: the UK may be granted an extension to the Article 50 process.

  • 9.30am – UK trade balance, GDP (February): trade deficit to narrow to £1.2 billion, while GDP falls 0.3% MoM from 0.5% growth, and the YoY figure drops to 1.2% from 1.4%. The rolling three-month figure is expected to fall to 0.1% from 0.2%. Markets to watch: GBP crosses

  • 12.45pm – ECB rate decision (1.30 pm press conference): no change is expected but the bank may push towards more easing after the announcement of TLTROs at its last meeting. Markets to watch: eurozone indices, EUR crosses

  • 1.30pm – US CPI (March): headline CPI to rise to 1.8% from 1.5% YoY and 0.3% from 0.2% MoM, while core CPI to be 0.2% from 0.1% MoM and hold at 2.1% YoY. Markets to watch: US indices, USD crosses

  • 3.30pm – US EIA crude inventories (w/e t April): stockpiles rose by 7.2 million barrels last week. Markets to watch: Brent, WTI

  • 7pm – FOMC minutes: these minutes will help reveal the thinking behind the cautious tone to the latest meeting of the Federal Reserve. Markets to watch: US indices, USD crosses

Thursday;

  • 2.30am – China CPI (March): prices to rise 2.3% YoY from 1.5% and fall 0.2% from a 1% rise MoM. Markets to watch: China indices, CNH crosses

  • 7am – German CPI (March, final): forecast to be 1.3% YoY. Markets to watch: EUR crosses

  • 1.30pm – US PPO (March): forecast to be 0.3% MoM from 0.1%. Markets to watch: USD crosses

Friday;

  • 4am – China trade balance (March): exports to rise 7.3% YoY from a 20.7% fall last month. Markets to watch: China indices, CNH crosses


Company announcements

Full year earnings - Tesco

Quarterly earnings - Asos, Delta, WHsmith, JP Morgan Chase, Wells Fargo

Trading Update - HSCB

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