The Week Ahead: 11th – 15th April 2022

Overview for the Week Ahead

The Yen weakened considerably during the Asian session, with the USD/JPY currency pair reaching as high as ¥125, after Governor Kuroda reiterated the importance of the Bank of Japan’s 2% inflation policy and stated that the Bank’s ultra-loose monetary policy will continue until that inflation target is reached. There is no question this a very divergent policy and it positions the Yen as clearly the weakest of all major currencies.

Gold attracts interest as a safe-haven early Monday and stays relatively resilient despite rising US yields. As of writing, XAU/USD was fluctuating in a narrow channel above $1,940.

Bitcoin stayed quiet over the weekend but ended up losing nearly 10% on a weekly basis. BTC/USD is moving sideways above $42,000 early Monday. Ethereum staged a rebound on Saturday but erased those gains on Sunday before going into a consolidation phase near $3,200 at the beginning of the week.

Inflation will also be front and centre for the European Central Bank meeting on Thursday where the risk is for a hawkish slant to the statement.

The European Central Bank isn’t likely to rush to new decisions this week as record inflation in the euro zone and a war raging just over its frontier leave officials navigating a fog of uncertainty.

Data on Tuesday is projected to show U.S. inflation continued to accelerate in March. The closely watched consumer price index is forecast to have risen 8.4% from a year ago, the most since the early 1980s, and 1.2% from a month earlier. The monthly gain, expected to include higher energy costs, would be the biggest since 2005.

With the first round of the French election on Sunday, the verdict on President Emmanuel Macron’s bid for a second term may dominate the news in the euro zone at the start of a week largely curtailed throughout the region by Easter.

Elsewhere, the Bank of Israel is expected to raise rates for the first time in more than three years on Monday. Most analysts predict a rate hike of 15 basis points, but some expect more aggressive action.

Plan your trades carefully and have a great trading week!

This Week’s High Impact Events

The times below are GMT +3.

Monday 11th April

  • No High Impact Events

Tuesday 12th April

  • 12.00 – Europe – ZEW Economic Sentiment & German ZEW Economic Sentiment

Potential instruments to Trade: EUR Crosses. 

  • 15.30 – US – CPI m/m & Core CPI m/m

Potential instruments to Trade: USD Crosses. 

  • 19.10 – US – FOMC Member Brainard Speaks

Potential instruments to Trade: USD Crosses. 

  • 20.01 – US – 10-Year Bond Auction

Potential instruments to Trade: USD Crosses. 

Wednesday 13th April

  • 05.00 – New Zealand – Official Cash Rate & RBNZ Rate Statement

Potential instruments to Trade: NZD Crosses. 

  • 09.00 – UK – CPI y/y

Potential instruments to Trade: GBP Crosses. 

  • 09.15 – Japan – BOJ Gov Kuroda Speaks

Potential instruments to Trade: JPY Crosses. 

  • 15.30 – US – PPI m/m & Core PPI m/m

Potential instruments to Trade: USD Crosses. 

  • 17.00 – Canada – BOC Monetary Policy Report, BOC Rate Statement, & Overnight Rate

Potential instruments to Trade: CAD Crosses. 

  • 18.00 – Canada – BOC Press Conference

Potential instruments to Trade: CAD Crosses. 

  • 20.01 – US – 30-Year Bond Auction

Potential instruments to Trade: USD Crosses. 

Thursday 14th April

  • 04.30 – Australia – Employment Change & Unemployment Rate

Potential instruments to Trade: AUD Crosses. 

  • 14.45 – Europe – Main Refinancing Rate & Monetary Policy Statement

Potential instruments to Trade: EUR Crosses. 

  • 15.30 – Europe – ECB Press Conference

Potential instruments to Trade: EUR Crosses. 

  • 15.30 – US – Core Retail Sales m/m, Retail Sales m/m, & Unemployment Claims

Potential instruments to Trade: USD Crosses. 

  • 17.00 – US – Prelim UoM Consumer Sentiment

Potential instruments to Trade: USD Crosses. 

  • 22.50 – US – FOMC Member Mester Speaks

Potential instruments to Trade: USD Crosses. 

Friday 15th April

  • 15.30 – US – Empire State Manufacturing Index

Potential instruments to Trade: USD Crosses. 

For more information – https://errante.eu/economic-calendar/

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

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