Last week, markets remained a little calm before Easter. There were fewer storms. Further, the hopes for a trade deal remained high. For the upcoming week, the release of the US advance GDP data stands out. Here is an outlook on some of the key releases scheduled for the week.
#1: Australia CPI (04/24/2019 Wednesday 01:30 GMT)
In Australia, the consumer prices increased 0.50 percent in the December quarter of last year, rising from 0.4 percent in the prior quarter. Forecast for the first quarter of 2019: 0.2 percent growth expected
#2: Australia Trimmed Mean CPI (04/24/2019 Wednesday 01:30 GMT)
In Australia, the core consumer prices rose by 0.4 percent on a quarter-on-quarter basis in the final quarter of 2018. Forecast for the first quarter of 2019: an increase of 0.4 percent is on the cards
#3: Canada BoC Monetary Policy Report (04/24/2019 Wednesday 14:00 GMT)
The Bank of Canada’s Monetary Policy Report provides valuable information about the central bank’s view as regards inflation and economic conditions. These key factors shape the direction of monetary policy and impact interest rate decisions.
#4: Canada BoC Rate Statement (04/24/2019 Wednesday 14:00 GMT)
The Bank of Canada uses it as a tool to communicate with investors as regards the monetary policy. The statement contains the outcome of the members’ decision on setting interest rates. It also contains a commentary on the economic conditions that impacted their decision. More importantly, the statement discusses the economic outlook. Further, it offers clues on future interest rate decisions.
#5: Canada BoC Overnight Rate (04/24/2019 Wednesday 14:00 GMT)
In the meeting in March, the Bank of Canada decided to leave the benchmark interest rate at the same level of 1.75 percent as was widely expected by the analysts. This is the highest interest rate since December 2008. Policymakers noted that the economic outlook continues to point towards maintaining the policy interest rate below the neutral range. Further, the Committee said that the developments in oil markets, household spending, and global trade will be closely watched because of a rise in uncertainty as regards the timing rate hikes in the future. The Bank Rate, as well as the deposit rate, was also left unchanged (2.0 percent and 1.50 percent). Forecast for April 2019: 1.75 percent
#6: Canada BoC Press Conference (04/24/2019 Wednesday 15:15 GMT)
The Governor and Senior Deputy Governor of the Bank of Canada hold a press conference 75 minutes after the announcement of the Overnight Rate. The press conference has two parts. The first part involves the reading of a prepared statement. The second part is answering questions by the press. As the questions by the press can often lead to unscripted answers, heavy market volatility can be expected.
#7: Japan BoJ Outlook Report (04/25/2019 Thursday 03:00 GMT)
The Bank of Japan’s Outlook Report provides very valuable information about the central bank’s view on inflation and economic condition. These are the key factors that shape monetary policy.
#8: Japan BoJ Monetary Policy Statement (04/25/2019 Thursday 03:00 GMT)
The Bank of Japan uses the Monetary Policy Statement as a tool to communicate with investors as regards the monetary policy. It provides the outcome of the members’ decision on asset purchases. It also provides a commentary on the economic conditions that impacted their decision. More importantly, it provides an economic outlook and clues on future decisions.
#9: Japan BoJ Press Conference (04/25/2019 Thursday)
The Governor of the Bank of Japan holds a press conference after the announcement of the interest rate. The BoJ uses it as a tool to communicate with investors as regards the monetary policy. In the press conference, the factors that impacted the interest rate decision are covered. In addition, the overall economic outlook and inflation aspects are also discussed. Traders look for clues on future decisions.
#10: U.S. Core Durable Goods Orders (04/25/2019 Thursday 12:30 GMT)
In the U.S., new orders for durable goods manufactured in the country, excluding transportation, rose by 0.1 percent on a month-on-month basis in February, reversing the 0.1 percent decrease in the previous month. The reading for February missed analysts’ expectations for a 0.2 percent increase. Forecast for March 2019: an increase of 0.2 percent is on the cards
#11: Switzerland SNB Chairman Thomas Jordan Speaks (04/26/2019 Friday 08:00 GMT)
Thomas Jordan, Governing Board Chairman of the Swiss National Bank, is scheduled to speak in Bern at the General Meeting of Shareholders of SNB. Markets often experience volatility during his speeches as traders make an attempt to understand the direction of interest rate s.
#12: U.S. Advance GDP (04/26/2019 Friday 12:30 GMT)
The US economy grew an annualized rate of 2.2 percent on a quarter-on-quarter basis in the December quarter of last year, well below the 2.6 percent growth reported in the prior estimate and the 3.4 percent expansion in the first estimate. Analysts had expected a 2.4 percent growth. Non-residential fixed investment and personal consumption expenditure rose less than expected. Further, public spending declined. However, the net trade drag was smaller than expected as exports rose faster and imports increased at a slower rate. Forecast for the first quarter of 2019: 2.2 percent