Here is what you need to know about the important news between April 10th 2023 and April 14th 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 is struggling to expand gains further as investors are ignoring volatility ahead of US inflation data. Topsy-turvy moves are expected from the USD Index as the US inflation is expected to display some surprises.
Gold
Gold price has extended its downside to near $1,990.00 as the US Dollar Index (DXY) has refreshed the day’s high amid soaring anxiety among the market participants ahead of the release of the United States inflation data. The USD Index has printed a fresh high of 102.23 as investors are anticipating a rebound in US inflation figures amid solid labour market conditions.
Oil.
The group known as OPEC+ will be cutting mostly sour crude supplies from Middle East producers led by Saudi Arabia.
Following the announcement, the world’s top oil exporter raised its May crude prices to term customers in Asia and the United States. State oil giant Saudi Aramco has also notified several Asian customers that they will receive full contract volumes in May despite the production cut.
Stocks
Friday’s mixed US employment report, despite firmer Nonfarm Payrolls (NFP), failed to resettle the market’s risk-on mood even if the Fed bets improved and now suggest a 0.25% rate hike in May. The reason could be linked to the market expectations suggesting a rate cut in late 2023, per the Fed Fund Futures. Amid these plays, S&P 500 Futures print mild losses around 4,132 while snapping a two-day uptrend whereas the US 10-year and two-year Treasury bond yields remain pressured near 3.37% and 3.95% respectively.
Economic calendar most important releases – All times are GMT
Wednesday, April 12, 2023
12:30 USD CPI m/m
12:30 USD CPI y/y
12:30 USD Core CPI m/m
13:00 GBP BOE Gov Bailey Speaks
14:00 CAD BOC Monetary Policy Report
14:00 CAD BOC Rate Statement
14:00 CAD Overnight Rate
15:00 CAD BOC Press Conference
18:00 USD FOMC Meeting Minutes
19:15 GBP BOE Gov Bailey Speaks
Thursday, April 13 , 2023
01:30 AUD Employment Change
01:30 AUD Unemployment Rate
06:00 GBP GDP m/m
12:30 USD Core PPI m/m
12:30 USD Unemployment Claims
12:30 USD PPI m/m
13:00 CAD BOC Gov Macklem Speaks
Friday, April 14, 2023
12:30 USD Core Retail Sales m/m
12:30 USD Retail Sales m/m
14:00 USD Prelim UoM Consumer Sentiment
Thanks for reading! Have a great week! 
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