The Week Ahead: 29th March – 2nd April 2021

Overview for the Week Ahead

On the economic calendar, 54 stats come into focus.

Traders are heading into a busy week of economic reports, with a surfeit of new information on the state of the U.S. labor market set to be released.

One of the most closely watched prints will be Friday’s March jobs report from the Labor Department. Equity investors will have a couple of days to digest the results, however, as the stock market will be closed on Friday in observance of Good Friday.

On Wednesday, ADP nonfarm employment change figures are due out ahead of a busy 2^nd half of the week.

On Thursday, ISM Manufacturing PMI and weekly jobless claims are due out. Expect the jobless claims figures to garner plenty of interest.

Wrapping things up at the end of the week will be official labor market figures for March.

Expect nonfarm payrolls and the March unemployment rate to be the main areas of focus.

Away from the economic calendar, FOMC member commentary will also need monitoring. Any deviation from the script could test support for riskier assets.

The Dollar Spot Index ended the week up by 0.92% to 92.766.

For Europe, keep an eye on lockdown measures widening this week, this may impact the EUR crosses.

The EUR ended the week down by 0.92% to $1.1794.

Finalized 4^th quarter GDP numbers are due out on Wednesday. Barring a marked deviation from prelim, however, the numbers are unlikely to have a material impact on the Pound. There could be easing of lockdown measures this week which could have a bigger impact.

The Pound ended the week down by 0.360% to $1.3789.

For Canada, January GDP and February RMPI numbers on Wednesday will be the key drivers in the week.

The Loonie ended the week down by 0.62% to C$1.2577 against the US Dollar.

For Australia, retail sales and trade figures will be the key drivers this week.

The Aussie Dollar ended the week down by 1.36% to $0.7637.

For New Zealand, business confidence figures for March will influence on Wednesday.

The Kiwi Dollar ended the week down by 2.30% to $0.7000.

For China, March NBS private sector PMIs are due out on Wednesday ahead of the all-important Caixin Manufacturing PMI on Thursday.

Thursday’s numbers will have the greatest impact on market risk sentiment late in the week.

The Chinese Yuan ended the week down by 0.49% to CNY6.5411 against the U.S Dollar.

For Japan, it is a busy week. Expect Tankan survey figures for the 1st quarter and finalized manufacturing PMI numbers are due out on Thursday to be the biggest interest of the week.

The Japanese Yen ended the week down by 0.70% to ¥109.64 against the U.S Dollar.

This Week’s High Impact Events

The times below are GMT+3.

Monday 29^th March

No High Impact Events Today

Tuesday 30^rd March

17.00 – US – CB Consumer Confidence

Potential instruments to Trade: USD Crosses.

Wednesday 31^st March

03.00 – Australia – Final ANZ Business Confidence

Potential instruments to Trade: AUD Crosses.

04.00 – China – Manufacturing PMI

Potential instruments to Trade: CNY Crosses.

09.00 – UK – Final GDP q/q

Potential instruments to Trade: GBP Crosses. 

15.15 – US – ADP Non-Farm Employment Change

Potential instruments to Trade: USD Crosses. 

15.30 – Canada – GDP m/m

Potential instruments to Trade: CAD Crosses. 

17.00 – US – Pending Home Sales m/m

Potential instruments to Trade: USD Crosses. 

17.30 – US – Crude Oil Inventories

Potential instruments to Trade: USD Crosses. 

Thursday 1^st April

03.30 – Australia – Retail Sales m/m

Potential instruments to Trade: AUD Crosses. 

All-Day – OPEC – JMMC Meeting

Potential instruments to Trade: Energy Markets. 

17.00 – US – ISM Manufacturing PMI

Potential instruments to Trade: USD Crosses. 

Friday 2^nd April

15.30 – US – Average Hourly Earnings m/m, Non-Farm Employment Change & Unemployment Rate

Potential instruments to Trade: USD Crosses & Gold.

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