We have a huge week ahead for markets, with two central banks policy meetings being in the spotlight, the BoE and the FOMC. Data-wise, we have some of the heaviest data, with Eurozone’s inflation numbers and GDP for the 1st Quarter of 2019, while the US Jobs report on Friday stands out as the event of the coming week.
Japanese markets will be closed next week of for golden week holiday period.
Monday – 29 April 2019
Personal Consumption Expenditures (USD, GMT 12:30) – A low reading of the Fed’s preferred inflation measure is expected to be negative for the USD. PCE inflation is expected to stand at 0.2% reading for February with a 0.1% increase for the core, which matches the headline February CPI and core figures. The March reading is expected at 0.4% PCE chain price and a 0.1% in the core index, which also matches the March CPI reading.
Tuesday – 30 April 2019
Gross Domestic Product (EUR, GMT 09:00) – Euro Area Preliminary GDP for the 1st Quarter is expected to have increased by 0.3% q/q, compared to 0.2% in the previous quarter, while it should remain flat at 1.1% y/y.Harmonized Index of Consumer Prices (EUR, GMT 12:00) – The German HICP inflation was confirmed at 1.4% y/y in March. In April however, it is expected to rise to 1.6% y/y.Gross Domestic Product (CAD, GMT 12:30) – February GDP is expected to slow to 0.1%, compared to 0.3% last month, perhaps paving the way for an extended pause in rate hikes from the BoC lasting through mid-year.CB Consumer Confidence Index (USD, GMT 14:00) – The Conference Board Index is expected to have declined from 126.0 in April to 124.1 in March.Employment data ( NZD, GMT 22:45) – Employment expected to keep growing in Q1, with the employment change rising to 0.3%q/q from 0.1%q/q.
Wednesday – 01 May 2019
ADP Employment Change (USD, GMT 12:15) – The April ADP Employment report should reveal a 175k gain for the month, after a 129k March gain.ISM Manufacturing PMI (USD, GMT 14:00) – The Manufacturing PMI is expected to edge up to 55.0 in April from 55.3 in March.Interest rate Decision and Conference (USD, GMT 18:00) –
Thursday – 02 May 2019
Interest rate Decision and Conference (GBP, GMT 11:00) –
Friday – 03 May 2019
Building Approvals (AUD, GMT 01:30) – The Australian housing sector has been facing issues in the past months, with building approvals surprisingly jump in February at fastest rate in over 5 years, at 19.1% . Consensus forecasts for March however suggest that a comeback could have occurred and hence, Building Approvals are expected to fall at 1.0%Consumer Price Index (EUR, GMT 09:00) – The Euro Area CPI is expected to come out at 1.6% y/y, above March’s outcome.NFP and Labour Market Data (USD, GMT 12:30)
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Andria Pichidi
Market Analyst
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