The Week Ahead: 8th – 12th March 2021

Overview for the Week Ahead

It is a quieter week on the economic calendar, 42 stats come into focus. 

February inflation figures are due out on Wednesday and Friday along with consumer sentiment figures on Friday. 

JOLT’s job openings and weekly jobless claims figures will also draw attention on Thursday, however. 

With market sensitivity to inflation heightened in recent weeks, expect plenty of influence from the numbers. 

The Dollar Spot Index ended the week up by 1.22% to 91.985

For Europe, it is a busier week with releases from Germany and Spain. 

On the monetary policy front, the ECB monetary policy decision and press conference on Thursday will be the main event. 

With market jitters over a possible shift in policy stemming from reinflation, expect the press conference to be key. Lagarde will need to assure the markets that there will be no shift in policy.  

Keep an eye on the EUR crosses! 

The EUR ended the week down by 1.33% to $1.1915

For the UK, it is another quiet week with only low impact events which will have muted impact on the Pound. 

The Pound ended the week down by 0.66% to $1.3841

There are a few important releases from Canada this week.  The Bank of Canada press conference will be the main focus for the week and inflation will likely be a hot topic. 

The Loonie ended the week down by 0.62% to C$1.2659 against the US Dollar. 

For Australia, it’s a quiet week. 

The Aussie Dollar ended the week down by 0.26% to $0.7686

For New Zealand, it is another quiet week. Electronic card retail sales figures are due out on Wednesday ahead of Business PMI numbers on Friday. 

The Kiwi Dollar ended the week down by 0.91% to $0.7167. 

For China, it is a busy week.  On Wednesday, inflation figures for February will also draw attention. 

With the National People’s Congress continuing from last Friday, chatter from the Chinese government will also influence market risk sentiment. 

The Chinese Yuan ended the week down by 0.36% to CNY6.4970 against the U.S Dollar. 

For Japan, it is a quiet week with the 2nd estimate GDP numbers for the 4th quarter are due out on Tuesday. 

At the end of the week, BSI Large Manufacturing Conditions Index numbers for the 1st quarter will draw interest.  The markets will be looking for results to have improved and if so it may have a positive effect on the JPY. 

The Japanese Yen ended the week down by 1.63% to ¥108.31 against the U.S Dollar. 

This Week’s High Impact Events 

The times below are GMT+2. 

Monday 8th March 

  • 12.00 – UK – BOE Gov. Bailey Speaks 

Potential instruments to Trade: GBP Crosses.  

Tuesday 9th March 

No high impact events – low impact events in Japan, New Zealand, Australia and Europe. 

Wednesday 10th March 

  • 00.00 – RBA Gov. Lowe Speaks 

Potential instruments to Trade: AUD Crosses. 

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

Potential instruments to Trade: USD Crosses.  

  • 17.00 – CANADA  BOC Rate Statement & Overnight Rate  

Potential instruments to Trade: CAD Crosses.  

  • 17.30 – US  Crude Oil Inventories 

Potential instruments to Trade: USD Crosses.  

  • Tentative – CANADA  BOC Press Conference  

Potential instruments to Trade: CAD Crosses.  

  • 20.01 – US  10-y Bond Auction  

Potential instruments to Trade: USD Crosses.  

Thursday 11th March 

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

Potential instruments to Trade: EUR Crosses.  

  • 15.30 – EUROPE – ECB Press Conference 

Potential instruments to Trade: EUR Crosses.  

Friday 12th March 

  • 15.30 – CANADA  Employment Change & Unemployment Rate  

Potential instruments to Trade: CAD Crosses.  

If you have any questions, please email our Education Centre.

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