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• The Week Ahead: 6th -10th March 2023

The Week Ahead: 6th -10th March 2023

Overview for the Week Ahead

The market’s focus is firmly on Fed Chair Powell’s two-day testimony before the U.S. congress (on Tuesday and Wednesday) and the February jobs report (due on Friday) that will likely dictate the path of the U.S. central bank for the near future.

While investors have come to accept (sort of) that the Fed will likely keep interest rates higher for longer, there are fresh fears that strong economic data will lead the central bank to go back to jumbo hikes.

The market largely expects Powell to be hawkish this week but given his testimony comes before the jobs report is released, he will likely aim to keep all options open.

Over in China, the country’s leadership set a 5% target for economic growth this year, which analysts called conservative and pragmatic, as they kicked off the annual session of the National People’s Congress.

Cues on regional monetary policy are also due this week, with central bank meetings in Australia and Japan.

Have your trading charts ready!

This Week’s High Impact Events

The times below are GMT +2.

Monday 6^th March

• 17.00 – Canada – Ivey PMI

Potential instruments to Trade: CAD Crosses. 

Tuesday 7^th March

• 05.30 – Australia – Cash Rate & RBA Rate Statement

Potential instruments to Trade: AUD Crosses. 

• 17.00 – US – Fed chair Powell Testifies

Potential instruments to Trade: USD Crosses. 

• 20.30 – Switzerland – SNB Chairman Jordan Speaks

Potential instruments to Trade: CHF Crosses. 

• 23.55 – Australia – RBA Gov Lowe Speaks

Potential instruments to Trade: AUD Crosses. 

Wednesday 8^th March

• 12.00 – Europe – ECB President Lagarde Speaks

Potential instruments to Trade: EUR Crosses. 

• 15.15 – US – ADP Non-Farm Employment Change

Potential instruments to Trade: USD Crosses. 

• 17.00 – Canada – BoC Rate Statement & Overnight Rate

Potential instruments to Trade: CAD Crosses. 

• 17.00 – US – Fed Chair Powell Testifies & JOLTS Job Openings

Potential instruments to Trade: USD Crosses. 

• 20.01 – US – 10-Y Bond Auction

Potential instruments to Trade: USD Crosses. 

Thursday 9^th March

• 15.30 – US – Unemployment Claims

Potential instruments to Trade: USD Crosses. 

Friday 10^th March

• Tentative – Japan – Monetary Policy Statement & BoJ Press Conference

Potential instruments to Trade: JPY Crosses. 

• 09.00 – UK – GDP m/m

Potential instruments to Trade: GBP Crosses. 

• 15.30 – Canada – Employment Change & Unemployment Rate

Potential instruments to Trade: CAD Crosses. 

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

Potential instruments to Trade: USD Crosses. 

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