Week's main events (March 28

This week, the focus of investors will be the monthly labor market report in the US (non-farm payrolls). This report could help markets understand if the Fed's rate hike roadmap is too aggressive or not aggressive enough. Economists expect the US economy to add 475,000 jobs after adding 678,000 in February. Before that, there will be February data on personal income and spending, which the Fed considers when adjusting inflation estimates. Rising oil prices are fueling inflationary expectations, so Thursday's OPEC+ meeting should be the focus for investors. Another event for traders to pay attention to this week is the inflation rate in the Eurozone. A sharp rise in inflation could change the ECB's view of monetary policy towards faster tightening.

Monday, March 28

No important news is expected on Monday. Volatility in the European and American sessions may be low. But investors should pay close attention to the speech of the head of the Bank of England, Andrew Bailey.

Main events of the day:

– UK BoE Gov Bailey’s Speech at 14:00 (GMT+3).

Tuesday, March 29

On Tuesday, traders will mainly focus on the Unemployment Rate in Japan. This release will increase the volatility for currency pairs with the Japanese yen. There will also be several events in the US session, but their impact on the market will be weak.

Main events of the day:

– Japan Unemployment Rate (m/m) at 02:30 (GMT+3);
– Australia Retail Sales (m/m) at 03:30 (GMT+3);
– US FOMC Member Williams Speech at 16:00 (GMT+3);
– US CB Consumer Confidence at 17:00 (GMT+3);
– US JOLTs Job Openings (m/m) at 17:00 (GMT+3).

Wednesday, March 30

The US GDP data for the quarter will be the main event on Wednesday. Analysts expect GDP growth to be just 0.1% as economic growth slows. Investors should also keep a close eye on the US crude oil reserves. The situation in the energy market is difficult. Destocking could exacerbate an already high energy shortage, especially in Europe.

Main events of the day:

– Japan Retail Sales (m/m) at 02:50 (GMT+3);
– US ADP Nonfarm Employment Change (m/m) at 15:15 (GMT+3);
– US GDP (q/q) at 15:30 (GMT+3);
– US Crude Oil Reserves (w/w) at 17:30 (GMT+3).

Thursday, March 31

Thursday will bring various statistics for many countries. The UK and Canada will update their GDP data. No surprises are expected, but volatility on currency pairs with the British pound and Canadian dollar may increase at the time of publication. In Europe, labor market data will be published. A decrease in the unemployment rate always increases the likelihood of monetary policy tightening. OPEC+, which has a big impact on oil prices, should also be a focus for traders. WTI and Brent prices volatility could rise sharply.

Main events of the day:

– Japan Industrial Production (m/m) at 02:50 (GMT+3);
– China Manufacturing PMI (m/m) at 04:30 (GMT+3);
– China Non-Manufacturing PMI (m/m) at 04:30 (GMT+3);
– UK GDP (q/q) at 09:00 (GMT+3);
– German Retail Sales at 09:00 (GMT+3);
– German Unemployment Rate (m/m) at 10:55 (GMT+3);
– Eurozone Unemployment Rate (m/m) at 12:00 (GMT+3);
– OPEC+ Meeting at 13:00 (GMT+3);
– Canada GDP (m/m) at 15:30 (GMT+3);
– US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
– US Core PCE Price Index (m/m) at 15:30 (GMT+3);
– US FOMC Member Williams Speech at 16:00 (GMT+3);
– US Chicago PMI (m/m) at 16:45 (GMT+3);
– US Natural Gas Storage (w/w) at 17:30 (GMT+3).

Friday, April 1

Friday's most important release is Nonfarm Payrolls. This data may provoke increased volatility in the market, and this indicator is also taken into account by the Fed to adjust monetary policy. Indications of continued strength in the labor market could raise bets on how aggressive the Fed can be in tightening monetary policy to fight high inflation. In Switzerland and Europe, inflation data will be released. Analysts expect a significant jump in the consumer price index in Europe due to the impact of sanctions on Russia. Traders should also pay attention to the Manufacturing PMI data from European and North American countries.

Main events of the day:

– Japan Final Manufacturing PMI (m/m) at 03:30 (GMT+3) (GMT+3);
– Switzerland Consumer Price Index (m/m) at 10:30 (GMT+3);
– French Manufacturing PMI (m/m) at 10:50 (GMT+3);
– German Manufacturing PMI (m/m) at 10:55 (GMT+3);
– Eurozone Manufacturing PMI (m/m) at 11:00 (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);
– US Nonfarm Payrolls (m/m) at 15:30 (GMT+3);
– US Unemployment Rate (m/m) at 15:30 (GMT+3);
– Canada Manufacturing PMI (m/m) at 16:30 (GMT+3);
– US ISM Manufacturing PMI (m/m) at 17:00 (GMT+3).

by JustMarkets, 2022.03.28

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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