WEEKLY ECONOMIC CALENDAR AHEAD

Here is what you need to know about the important news between April 24^th, 2023, and April 28^th, 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

DXY, which measures the US Dollar vs. a basket of currencies is trading flat near 101.67 but the recent break above 102.036 sets up a test of the April 10 high near 102.807, as illustrated below.

The greenback is heading into the final week of the month on the back foot as investors get prepared for the central bank meetings in May. With a focus on the Federal Reserve, Fed officials have been sounding a bit more cautious.

Gold

Gold price struggles to capitalize on Friday’s modest bounce from the $1.970 region and comes under some selling pressure on the first day of the new week. The XAU/USD trades around the $1,977 area during the Asian session and remains well within the striking distance of over a two-week low touched last Wednesday.

Oil.

Oil prices fell in early Asian session on Monday and were moving close to a five-week low as concerns over rising interest rates and slowing economic growth largely dented expectations for a recovery in demand this year.

Stocks

in the week ahead, investors will be monitoring CB consumer confidence, building permits, new home sales, core durable goods orders, preliminary GDP figures, pending home sales, PCE price index, Chicago PMI, and Michigan consumer sentiment.

Quarterly earnings results will also kick into a higher gear with reporting companies including Coca-Cola, First Republic Bank, Microsoft, Alphabet, Nestle, PepsiCo, McDonald’s, General Electric, Meta Platforms, Bank of America, Amazon.com, Mastercard, Intel, Exxon Mobil, and Chevron.

Economic calendar most important releases – All times are GMT.

Tuesday, April 25, 2023

14:00                            USD                 CB Consumer Confidence

Wednesday, April 26, 2023

01:30                            AUD                 CPI q/q

01:30                            AUD                 CPI y/y

01:30                            AUD                 Trimmed Mean CPI q/q

Thursday, April 27, 2023

12:30                            USD                 Advance GDP q/q

12:30                            USD                 Unemployment Claims

Friday, April 28, 2023

Tentative                       JPY                  BOJ Outlook Report

Tentative                       JPY                  Monetary Policy Statement

All Day                          EUR                 German Prelim CPI m/m

Tentative                       JPY                  BOJ Press Conference

12:30                            USD                 Core PCE Price Index m/m

12:30                            USD                 Employment Cost Index q/q

12:30                            CAD                 GDP m/m

Thanks for reading! Have a great week! 

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