Earnings Season is In Focus
Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
5 important things this week will bring us!
The beginning of the week has brought risk-on sentiment into the market after the continuation of trade talks between China and the US and positive figures of Chinese manufacturing PMI for March. Let’s see what else will impact on the market this week.
- US retail sales and core retail sales (Mon, 15:30 MT (13:30 GMT)) – According to analysts, the level of retail sales will rise by 0.3%. At the same time, its core level is expected to advance by 0.4%. Higher-than-expected figures will boost the USD.
- Rate statement by the Reserve bank of Australia (Tue, 06:30 MT (04:30 GMT)) – The RBA will not make any changes to its rate which is currently set at 1.5%. However, the central bank may provide some hints on the possible changes to its future monetary policy. As some analysts predict the rate cut soon, it would be interesting to see the outlines of the statement and to consider the moves of the AUD.
- US core durable goods orders (Tue, 15:30 MT (13:30 GMT)) – We anticipate the change in the total value of core durable goods orders to increase by 0.3%. If the actual figures are higher, the USD will be supported.
- NFP (Fri, 15:30 MT (13:30 GMT)) – Analysts project the level of non-farm payrolls to advance by 175 thousand jobs. The higher level will be appreciated by the USD bulls.
- Canadian jobs data (Fri, 15:30 MT (13:30 GMT)) – The level of employment change is expected to decline by 10,000 people, while the unemployment rate is forecast to remain at 5.8%. If the employment change is higher and the unemployment rate is lower than the expectations, the CAD will go up.
Hot topics:
- Trade talks between the US and China will continue on Wednesday in Washington. Last week, the Chinese government announced about the extension of retaliatory tariffs on US automobiles and include fentanyl in a list of controlled drugs. This is one of the factors which resulted in risk-on sentiment in the market.
- During the early trading session, the release of the Chinese PMI reduced worries about the economic slowdown in the country. The indicator reached 50.5 points (vs. 49.6 points expected). It helped the aussie and the kiwi to get positive momentum today.
- British Parliament will hold another round of indicative votes today at 22:00 MT time. The members of the parliament will decide on the future of Brexit. If they fail, the UK will either leave on April 12 without a deal or apply for a longer extension and participate in the European Parliament elections
Pay attention!
Since today, MT4, MT5, and FBS Trader platform clock have turned 1 hour ahead.
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