It has happened again. The scheduled economic data releases were much less important than virus crisis news last week. However, the coming releases are starting to show a severe economic downturn. So, markets will likely pay more attention to the economic data releases in the near future. Let’s take a look at the details.
The week behind
Global financial markets were much calmer last week following earlier risk-on assets’ meltdown. However, they continued to react to news about the ongoing
corona virus crisis. The economic data releases were overshadowed by spreading
pandemic fears again. But the economic data releases are starting to show a severe economic downturn:
Thursday’s U.S. Unemployment Claims have been much worse than expected.
The week ahead
What about the coming week? It is very likely that investors will continue to react to the mentioned
virus scare again this week. However, the market will also wait for the U.S. Flash Manufacturing PMI and Flash Services PMI numbers on Tuesday and the Unemployment Claims along with the Final
GDP number on Thursday. We will also get the Eurozone data:
PMI numbers on Tuesday and the
German ifo number on Wednesday. The
British Pound traders will await Thursday’s monetary policy update from Bank of England. Let’s take a look at key highlights:
- On Tuesday we will get the U.S. Flash Manufacturing PMI and Flash Services PMI numbers. Then on Thursday, the Unemployment Claims and Final GDP will be released.
- In Eurozone, on Tuesday we will get PMI numbers, including the German Flash Manufacturing PMI release. On Wednesday we will also get the German Final ifo Business Climate.
- There will be important economic data from the U.K. this week, including Thursday’s Official Bank Rate, Monetary Policy Summary, MPC Official Bank Rate Votes releases.
- Oil traders will await Tuesday’s and Friday’s inventories data releases.
You will find this week’s the key news releases below (EST time zone). For your convenience, we broken them down per market to which they are particularly important, so that you know what to pay extra attention to, if you have or plan to have positions in one of them. Moreover, we put the particularly important news in bold. This kind of news is what is more likely to trigger volatile movements. The news that are not in bold usually don’t result in bigger intraday moves, so unless one is engaging in a particularly active form of
day trading, it might be best to focus on the news that we put in bold. Of course, you are free to use the below indications as you see fit. As far as we are concerned, we are usually not engaging in any day trading during days with “bold” events on a given market. However, in case of more medium-term trades, we usually choose to be aware of the increased intraday volatility, but not change the currently opened position.
Our Market News Report consists of two different time-related perspectives. The investors’ perspective is only suitable for the long-term investments. The single economic data releases rarely cause major outlook changes. Hence, we will only see a handful of bold markings every week. On the other hand, the traders’ perspective is for traders and day-traders, because the assets’ prices are likely to react on a single piece of economic data. So, there will be a lot more bold markings on potentially market-moving news every week.
Investors’ Perspective
Gold, Silver, and Mining Stocks
Tuesday, March 24
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
Thursday, March 26
- 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q
Crude Oil
Tuesday, March 24
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
Wednesday, March 25
- 10:30 a.m. U.S. - Crude Oil Inventories
Thursday, March 26
- 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q
Stock Markets
Tuesday, March 24
- 4:30 a.m. Eurozone - German Flash Manufacturing PMI
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
Wednesday, March 25
- 5:00 a.m. Eurozone - German Final ifo Business Climate
Thursday, March 26
- 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q
EUR/USD
Tuesday, March 24
- 4:30 a.m. Eurozone - German Flash Manufacturing PMI
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
Wednesday, March 25
- 5:00 a.m. Eurozone - German Final ifo Business Climate
Thursday, March 26
- 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q
USD/JPY
Thursday, March 26
- 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q
GBP/USD
Tuesday, March 24
- 5:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI
Wednesday, March 25
Thursday, March 26
- 5:30 a.m. U.K. - Retail Sales m/m
- 8:00 a.m. U.K. - Official Bank Rate, Monetary Policy Summary, MPC Official Bank Rate Votes
- 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q
USD/CAD
Tuesday, March 24
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
Thursday, March 26
- 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q
AUD/USD
Thursday, March 26
- 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q
Summing up, the financial markets will likely continue to react to scary news about globally spreading corona virus in the coming week. The scheduled economic data releases
seem less important than monetary policy updates or news about governments’ interventions recently. However, if you’re an investor and not a trader, you should pay extra attention to Tuesday’s U.S. PMI numbers releases. On Thursday there will also be important economic data release from the Bank of England.
We hope you enjoyed reading the above free analysis, and we encourage you to read today's Market News Report - this analysis' full version. The full Alert includes also the
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Thank you.
Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care
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Disclaimer
All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits' associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.