Key Economic Events and Reports for the Week Ahead
On Monday, March 22, key data releases of the day will be interest rate decision of the PBOC and the report on existing home sales in the US. The Chinese regulator is closely monitoring bubbles in local asset markets, so risks are biased in favor of tightening credit conditions, which limits growth opportunities in overseas asset markets. Home sales are expected to reflect optimism about household response to fiscal stimulus.
On Tuesday, there will be data on wage growth in the UK, and on Wednesday - CPI, PMI indexes in services and manufacturing sectors - also of the British economy. The country is doing well on the vaccine challenge, and the data is likely to reflect that success. The pound has every chance of strengthening on upside surprises in the data, especially against its main opponent - the Euro, which weakness reflects ailing economic activity due to lockdown extensions. The report on orders for durable goods in the US and Powell's speech will be major events for markets on Wednesday as they should bring more clarity on near-term growth prospects of the US economy.
On Thursday, the Swiss central bank will make up its mind on interest rate while the heads of the UK Central Bank and the ECB will hold speeches regarding monetary policies. Investors wait for more information on the central banks' plans to move out of ultra-low interest rate territory.
The key reports of the next Friday will be the IFO German Business Climate Index and UK retail sales.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 70% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Futures and Options: Trading futures and options on margin carries a high degree of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.