This week promises to be volatile due to a lot of important events. The US Nonfarm Payrolls is the week's main event, as it is one of the most significant parameters for the Fed's monetary policy decision. Economists believe the US employment report remains robust in April. Traders should pay special attention to the Fed interest rate decision and the FOMC Statement. The Fed is expected to raise interest rates another 25 basis points on Wednesday amid still lingering inflation and growing concerns about the economic outlook.
Also, this week there will be monetary policy decisions from the ECB, the Reserve Bank of Australia (RBA), and the Norges Bank. As a rule, rising interest rates are accompanied by a strengthening national currency and weakness in the stock market. Investors should also keep a close eye on the inflation data for the Eurozone and Switzerland. Persistently high inflation could shift the likelihood of a 0.5% rate hike.
Traders should also not forget about the US earning season. This week, companies such as Apple (AAPL), Ford (F), Starbucks (SBUX), Pfizer (PFE), Advanced Micro Devices (AMD), Kraft Heinz (KHC), Moderna (MRNA), Uber (Uber) and many others will report.
- – Japan Manufacturing PMI (m/m) at 01:00 (GMT+3);
- – Canada Manufacturing PMI (m/m) at 16:30 (GMT+3);
- – US ISM Manufacturing PMI (m/m) at 17:00 (GMT+3).
- – Australia RBA Interest Rate Decision (m/m) at 07:30 (GMT+3);
- – Australia RBA Rate Statement (m/m) at 07:30 (GMT+3);
- – German Retail Sales (m/m) at 09:00 (GMT+3);
- – Switzerland Manufacturing PMI (m/m) at 10:30 (GMT+3);
- – German Manufacturing PMI (m/m) at 10:55 (GMT+3);
- – Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+3);
- – UK Manufacturing PMI (m/m) at 11:30 (GMT+3);
- – Eurozone Consumer Price Index (m/m) at 12:00 (GMT+3);
- – Australia RBA Gov Lowe Speaks at 14:20 (GMT+3);
- – US JOLTs Job Openings (m/m) at 17:00 (GMT+3).
- – New Zealand Unemployment Rate at 01:45 (GMT+3);
- – New Zealand RBNZ Gov Orr Speaks at 02:00 (GMT+3);
- – Australia Retail Sales (m/m) at 04:30 (GMT+3);
- – Eurozone Unemployment Rate (m/m) at 12:00 (GMT+3);
- – US ADP Nonfarm Employment Change (m/m) at 15:15 (GMT+3);
- – US ISM Services PMI (m/m) at 17:00 (GMT+3);
- – US Crude Oil Reserves (w/w) at 17:30 (GMT+3);
- – US FOMC Statement at 21:00 (GMT+3);
- – US Fed Interest Rate Decision at 21:00 (GMT+3);
- – US FOMC Press Conference at 21:30 (GMT+3).
- – New Zealand RBNZ Financial Stability Report at 00:00 (GMT+3);
- – New Zealand RBNZ Gov Orr Speaks at 02:00 (GMT+3);
- – China Caixin Manufacturing PMI (m/m) at 04:45 (GMT+3);
- – Australia Trade Balance (m/m) at 04:30 (GMT+3);
- – German Services PMI (m/m) at 10:55 (GMT+3);
- – Eurozone Services PMI (m/m) at 11:00 (GMT+3);
- – Norwegian NB Interest Rate Decision at 11:00 (GMT+3);
- – UK Services PMI (m/m) at 11:30 (GMT+3);
- – Eurozone Producer Price Index (m/m) at 12:00 (GMT+3);
- – Eurozone ECB Interest Rate Decision at 15:15 (GMT+3);
- – Eurozone ECB Monetary Policy Statement at 15:15 (GMT+3);
- – US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
- – Canada Trade Balance (m/m) at 15:30 (GMT+3);
- – US Trade Balance (m/m) at 15:30 (GMT+3);
- – Eurozone ECB Press Conference at 15:45 (GMT+3);
- – Canada Ivey PMI (m/m) at 17:00 (GMT+3);
- – US Natural Gas Storage (w/w) at 17:30 (GMT+3);
- – Canada BoC Gov Macklem Speaks at 19:50 (GMT+3).
- – Australia RBA Monetary Policy Statement (m/m) at 04:30 (GMT+3);
- – Switzerland Unemployment Rate at 08:45 (GMT+3);
- – Switzerland Consumer Price Index at 09:30 (m/m) (GMT+3);
- – UK Construction PMI (m/m) at 11:30 (GMT+3);
- – Switzerland SNB Chairman Jordan Speaks at 12:00 (GMT+3);
- – US Nonfarm Payrolls (m/m) at 15:30 (GMT+3);
- – US Unemployment Rate (m/m) at 15:30 (GMT+3);
- – Canada Unemployment Rate (m/m) at 15:30 (GMT+3).
by 2023.05.01
, We advise you to get acquainted with the daily forecasts for the major currency pairs.This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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