Here is what you need to know about the important news between April 03rd 2023 and April 07th 2023, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key correlated assets.
U.S. dollar index
The USD Index has refreshed its weekly high above 103.00 as investors believe that the Federal Reserve (Fed) won’t have another alternative than to trigger rates higher. Fed Chair Jerome Powell might announce one more 25 basis point (bps) rate hike in May and will push rates above 5%.
Gold
Gold prices pulled back on Monday as markets locked in some profits after a strong first quarter, with focus now turning to a slew of U.S. economic readings this week for more cues on monetary policy.
Oil.
OPEC+ decision of contracting production has renewed fears of a rebound in the United States inflation. Higher oil prices are likely to force factory owners to hike the prices of goods and services at factory gates, which will propel the Producer Price Index (PPI). Eventually, the US inflationary pressures would be fuelled significantly.
Stocks
Ahead in the shortened Easter week, market participants will be closely watching Markit and ISM manufacturing and services PMIs, factory orders, JOLTs job openings, ADP nonfarm employment change, average hourly earnings and initial jobless claims, as well as a speech from Fed Governor Cook.
Economic calendar most important releases – All times are GMT.
Monday, April 03, 2023
14:00 USD ISM Manufacturing PMI
Tuesday, April 04, 2023
04:30 AUD Cash Rate
04:30 AUD RBA Rate Statement
14:00 USD JOLTS Job Openings
Wednesday, April 05, 2023
02:00 NZD Official Cash Rate
02:00 NZD RBNZ Rate Statement
02:30 NZD RBA Gov Lowe Speaks
12:15 USD ADP Non-Farm
14:00 USD ISM Services PMI
Thursday, April 06, 2023
12:30 CAD Employment Change
12:30 CAD Unemployment Rate
12:30 USD Unemployment Claims
Friday, April 07, 2023
12:30 USD Non-Farm Employment Change
12:30 USD Unemployment Rate
Thanks for reading! Have a great week!
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