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WEEKLY ECONOMIC CALENDAR AHEAD

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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