A Week in the Market (04/19 - 04/25): Central Banks and Some Digits
The new week of April will bring certain results of meetings of several important Central banks and some data from the Canadian and British economies. There will be enough market drivers for investors to choose from.
ECB: Lagarde’s comments can support the EUR
The European Central bank will have another meeting and make certain monetary decisions. The interest rate is forecast to remain without changes; however, pay attention to the press conference of the head of the ECB Christine Lagarde. She might give positive assessments of the course of the vaccination campaign and the perspectives of the European economy for growth. These comments will support the EUR.
Central banks: times to decide on interest rates
This week, Central banks will have sessions in Israel, Indonesia, China, Canada, and Russia. In all the cases except the latter one, the interest rate is not expected to be changed, which is a signal of stability for developing assets. The Bank of Russia might raise the interest rate by 25 base points, which might depress the RUB.
USD: check the statistics
The USA is preparing for publication the information on the dwelling market and the PMI. The statistics will be scarce but this is why market reactions might be pronounced. The weekly release of unemployment claims might demonstrate certain growth of the indicator. The USD rate will also be bound to the profitability of state bonds, which are now depressed.
GBP: the flow of statistics will show what is going on in the economy
This week, Great Britain will be very active on the macroeconomic calendar. It is preparing to publish a block of employment statistics, inflation results in March, and the whole range of prices statistics. Also, the prelim PMI in industry and non-industry will see the light. The stronger the statistics, the better for the GBP.
CAD: too much news
Canada will attract your attention by a flow of statistics and events. Apart from a CB meeting, check the inflation data for February and the retail sales index for houses. The CAD will be stable if the statistics are strong and oil prices are favorable.