|
Getting your Trinity Audio player ready...
|
The market participants balance the news from the war between Russia and Ukraine, high inflation, and Central Banks changing monetary policies. In the latest meeting of the ECB, the Central bank announced that it is ending its Asset purchase program at the end of the third quarter of 2022. In the weeks after the ECB meeting, comments from members of the ECB echoed their readiness for the first interest rate hike by the end of 2022.
Across the ocean, the FED chairman Powell and members of the FOMC said that a 0.50% interest rate hike is on the table for their Meeting in May, as long as the economic data support that decision.
The Reserve Bank of Australia also signals that it will hike its interest rate soon. Perhaps not during the banks’ interest rate decision in April, but looks like a rate hike is on the table for the bank meeting in May.
Another interest rate hike is expected from the Bank of Canada in their meeting on April 13, 2022. The bank is expected to raise its interest rate from 0.50% to 0.75%.
On the contrary side, the Bank of Japan continued the dovish tone, repeating that the bank will buy an unlimited amount of Japan 10 years of Government Bond. That sent JPY to a 7-year low and forced comments from Japanese officials that the declines in the JPY were too fast and that may hurt the Japanese economy. These Japanese officials even when further said that there should be intervention in the FX markets to stop the declines in the JPY. So, maybe it is a good idea for the members of the Bank of Japan and government officials to sit down and discuss each side’s position.
The economy of China continues the slowdown, the manufacturing and service PMIs, dipped below 50 in the latest data releases.
Focus for the week ahead is on the following economic data releases:
Monday, 04, April 2022
- Australia – Retail Sales MoM Final FEB
- Australia – ANZ Job Advertisements MoM MAR
- Germany – Balance of Trade FEB
- Germany – Imports MoM s.a FEB
- Germany – Exports MoM s.a FEB
- Germany – Balance of Trade s.a FEB
- Germany – Current Account FEB
- Germany – 3-Month Bubill Auction
- Germany – New Car Registrations YoY MAR
- Spain – Unemployment Change MAR
- Spain – Tourist Arrivals YoY FEB
- Canada – Building Permits MoM FEB
- Singapore – SIPMM Manufacturing PMI MAR
- US – Factory Orders MoM FEB
- US – Factory Orders ex Transportation FEB
Tuesday, 05, April 2022
- South Korea – Foreign Exchange Reserves MAR
- South Korea – Inflation Rate YoY MAR
- South Korea – Inflation Rate MoM MAR
- New Zealand – NZIER Capacity Utilization Q1
- New Zealand – NZIER Business Confidence Q1
- New Zealand – Global Dairy Trade Price Index
- Australia – Ai Group Construction Index MAR
- Australia – S&P Global Services PMI Final MAR
- Australia – S&P Global Composite PMI Final MAR
- Australia – TD-MI Inflation Gauge MoM MAR
- Australia – RBA Interest Rate Decision
- Japan – Household Spending YoY FEB
- Japan – Household Spending MoM FEB
- Japan – Overtime Pay YoY FEB
- Japan – Average Cash Earnings YoY FEB
- Japan – Jibun Bank Services PMI Final MAR
- Japan – Jibun Bank Composite PMI Final MAR
- Japan – 10-Year JGB Auction
- Singapore – S&P Global PMI MAR
- Singapore – Retail Sales MoM FEB
- Singapore – Retail Sales YoY FEB
- France – Industrial Production MoM FEB
- France – S&P Global Services PMI Final MAR
- France – S&P Global Composite PMI Final MAR
- Spain – S&P Global Services PMI MAR
- Spain – S&P Global Composite PMI MAR
- Italy – S&P Global Services PMI MAR
- Italy – S&P Global Composite PMI MAR
- Germany – S&P Global Services PMI Final MAR
- Germany – S&P Global Composite PMI Final MAR
- Euro Area – S&P Global Services PMI Final MAR
- Euro Area – S&P Global Composite PMI Final MAR
- UK – New Car Sales YoY MAR
- UK – S&P Global/CIPS UK Services PMI Final MAR
- UK – S&P Global/CIPS Composite PMI Final MAR
- Canada – Balance of Trade FEB
- Canada – Exports FEB
- Canada – Imports FEB
- US – Balance of Trade FEB
- US – Exports FEB
- US – Imports FEB
- US – Redbook YoY 02/APR
- US – S&P Global Composite PMI Final MAR
- US – S&P Global Services PMI Final MAR
- US – ISM Non-Manufacturing PMI MAR
- US – ISM Non-Manufacturing Business Activity MAR
- US – ISM Non-Manufacturing Prices MAR
- US – ISM Non-Manufacturing New Orders MAR
- US – ISM Non-Manufacturing Employment MAR
- US – API Crude Oil Stock Change 01/APR
- US – Total Vehicle Sales MAR
- US – LMI Logistics Managers Index Current MAR
Wednesday 06, April 2022
- Australia – RBA Chart Pack
- China – Caixin Services PMI MAR
- China – Caixin Composite PMI MAR
- Germany – Factory Orders MoM FEB
- Germany – S&P Global Construction PMI MAR
- France – S&P Global Construction PMI MAR
- Euro Area – S&P Global Construction PMI MAR
- Euro Area – PPI MoM FEB
- Euro Area – PPI YoY FEB
- Euro Area – 3-Month Bill Auction
- Euro Area – 6-Month Bill Auction
- Spain – Consumer Confidence MAR
- UK – S&P Global Construction PMI MAR
- Canada – Ivey PMI s.a MAR
- US – MBA Mortgage Applications 01/APR
- US – MBA 30-Year Mortgage Rate 01/APR
- US – MBA Mortgage Market Index 01/APR
- US – MBA Mortgage Refinance Index 01/APR
- US – MBA Purchase Index 01/APR
- US – EIA Crude Oil Stocks Change 01/APR
- US – EIA Gasoline Stocks Change 01/APR
- US – EIA Gasoline Production Change 01/APR
- US – EIA Heating Oil Stocks Change 01/APR
- US – EIA Refinery Crude Runs Change 01/APR
- US – EIA Distillate Stocks Change 01/APR
- US – EIA Distillate Fuel Production Change 01\/APR
- US – EIA Cushing Crude Oil Stocks Change 01/APR
- US – EIA Crude Oil Imports Change 01/APR
- US – FOMC Minutes
Thursday, 07, April 2022
- Australia – Ai Group Services Index MAR
- Australia – Balance of Trade FEB
- Australia – Building Permits MoM Final FEB
- Australia – Exports MoM FEB
- Australia – Imports MoM FEB
- Australia – Private House Approvals MoM Final FEB
- China – Foreign Exchange Reserves MAR
- Japan – Foreign Bond Investment 02/APR
- Japan – Foreign Exchange Reserves MAR
- Japan – Stock Investment by Foreigners 02/APR
- Japan – 30-Year JGB Auction
- Japan – Coincident Index Prel FEB
- Japan – Leading Economic Index Prel FEB
- Switzerland – Unemployment Rate MAR
- Switzerland – Foreign Exchange Reserves MAR
- Germany – Industrial Production MoM FEB
- UK – Halifax House Price Index MoM MAR
- UK – Halifax House Price Index YoY MAR
- UK – Labour Productivity QoQ Final Q4
- UK – BBA Mortgage Rate MAR
- France – Foreign Exchange Reserves MAR
- Euro Area – Retail Sales MoM FEB
- Euro Area – Retail Sales YoY FEB
- France – Retail Sales MoM FEB
- France – Retail Sales YoY FEB
- Singapore – Foreign Exchange Reserves MAR
- US – Initial Jobless Claims 02/APR
- US – Jobless Claims 4-week Average 02/APR
- US – Continuing Jobless Claims 26/MAR
- US – EIA Natural Gas Stocks Change 01/APR
- US – 8-Week Bill Auction
- US – 4-Week Bill Auction
- US – Consumer Credit Change FEB
Friday 08, April 2022
- South Korea – Current Account FEB
- Japan – Current Account FEB
- Japan – Consumer Confidence MAR
- Japan – Eco Watchers Survey Current MAR
- Japan – Eco Watchers Survey Outlook MAR
- Australia – RBA Financial Stability Review
- Spain – Industrial Production YoY FEB
- Italy – Retail Sales MoM FEB
- Italy – Retail Sales YoY FEB
- Canada – Unemployment Rate MAR
- Canada – Employment Change MAR
- Canada – Full Time Employment Chg MAR
- Canada – Participation Rate MAR
- Canada – Part-Time Employment Chg MAR
- Canada – Average Hourly Wages YoY MAR
- US – Wholesale Inventories MoM FEB
- US – WASDE Report
- US – Baker Hughes Total Rig Count 08/APR
- US – Baker Hughes Oil Rig Count 08/APR
