Last week’s economic data releases have revealed more
coronavirus damage to the economy. Thursday’s weekly Unemployment Claims number has surpassed 4 million, but it was lower than the week before. We’ve also seen some weak PMI numbers from different countries. But the markets remained relatively calm last week, as investors continued buying
stocks. This week we will get the important release from Fed.
The week behind
Last week’s economic data releases have basically confirmed the
coronavirus negative impact on global economies. PMI numbers from the U.S., Eurozone and U.K. were worse than expected. The U.S. Unemployment Claims remained above 4 million. And oil inventories numbers were big once again. However, the markets remained relatively very calm, as stocks were slowly getting back to their recent local highs.
The week ahead
What about the coming week? Investors will await Wednesday’s
FOMC Rate Decision release along with the Press Conference. Then we will have series of important U.S. economic data releases throughout the whole week. On Thursday the European Central Bank will decide on
monetary policy of the Eurozone. We will also have some important economic data releases from Australia, Canada and
China. Let’s take a look at key highlights:
- Wednesday’s FOMC Interest Rate and Monetary Policy release along with the Press Conference will be the most important economic data announcement of the coming week.
- We will also get the CB Consumer Confidence number on Tuesday, Advance GDP on Wednesday, Chicago PMI on Thursday and the ISM Manufacturing PMI on Friday.
- On Thursday there will be the ECB’s Main Refinancing Rate and Monetary Policy Statement release along with the Press Conference.
- The other important economic data releases include Tuesday’s Australian CPI number, Wednesday’s China’s Manufacturing PMI and Thursday’s Canadian GDP number.
- Oil traders will also await Tuesday’s and Wednesday’s inventories data release.
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, April 28
- 10:00 a.m. U.S. - CB Consumer Confidence
Wednesday, April 29
- 8:30 a.m. U.S. - Advance GDP q/q
- 2:00 p.m. U.S. - FOMC Statement, Federal Funds Rate
- 2:30 p.m. U.S. - FOMC Press Conference
Friday, May 1
- 10:00 a.m. U.S. - ISM Manufacturing PMI
Crude Oil
Tuesday, April 28
- 10:00 a.m. U.S. - CB Consumer Confidence
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
Wednesday, April 29
- 8:30 a.m. U.S. - Advance GDP q/q
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - FOMC Statement, Federal Funds Rate
- 2:30 p.m. U.S. - FOMC Press Conference
- 9:00 p.m. China - Manufacturing PMI
Friday, May 1
- 10:00 a.m. U.S. - ISM Manufacturing PMI
Stock Markets
Tuesday, April 28
- 10:00 a.m. U.S. - CB Consumer Confidence
Wednesday, April 29
- 8:30 a.m. U.S. - Advance GDP q/q
- 2:00 p.m. U.S. - FOMC Statement, Federal Funds Rate
- 2:30 p.m. U.S. - FOMC Press Conference
- 9:00 p.m. China - Manufacturing PMI
Thursday, April 30
- 7:45 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. - Unemployment Claims
- 8:30 a.m. Eurozone - ECB Press Conference
Friday, May 1
- 10:00 a.m. U.S. - ISM Manufacturing PMI
EUR/USD
Tuesday, April 28
- 10:00 a.m. U.S. - CB Consumer Confidence
Wednesday, April 29
- 8:30 a.m. U.S. - Advance GDP q/q
- 2:00 p.m. U.S. - FOMC Statement, Federal Funds Rate
- 2:30 p.m. U.S. - FOMC Press Conference
Thursday, April 30
- 3:55 a.m. Eurozone - German Unemployment Change
- 7:45 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. - Unemployment Claims
- 8:30 a.m. Eurozone - ECB Press Conference
Friday, May 1
- 10:00 a.m. U.S. - ISM Manufacturing PMI
- All Day, Eurozone – French, German, Italian, Spanish Bank Holiday
USD/JPY
Tuesday, April 28
- 10:00 a.m. U.S. - CB Consumer Confidence
- All Day, Japan - Bank Holiday
Wednesday, April 29
- 2:00 p.m. U.S. - FOMC Statement, Federal Funds Rate
- 2:30 p.m. U.S. - FOMC Press Conference
- 9:00 p.m. China - Manufacturing PMI
GBP/USD
Tuesday, April 28
- 10:00 a.m. U.S. - CB Consumer Confidence
Wednesday, April 29
- 2:00 p.m. U.S. - FOMC Statement, Federal Funds Rate
- 2:30 p.m. U.S. - FOMC Press Conference
USD/CAD
Tuesday, April 28
- 10:00 a.m. U.S. - CB Consumer Confidence
Wednesday, April 29
- 8:30 a.m. U.S. - Advance GDP q/q
- 2:00 p.m. U.S. - FOMC Statement, Federal Funds Rate
- 2:30 p.m. U.S. - FOMC Press Conference
Thursday, April 30
- 8:30 a.m. Canada - GDP m/m
Friday, May 1
- 10:00 a.m. U.S. - ISM Manufacturing PMI
AUD/USD
Tuesday, April 28
- 10:00 a.m. U.S. - CB Consumer Confidence
- 9:30 p.m. Australia - CPI q/q, Trimmed Mean CPI q/q
Wednesday, April 29
- 2:00 p.m. U.S. - FOMC Statement, Federal Funds Rate
- 2:30 p.m. U.S. - FOMC Press Conference
- 9:00 p.m. China - Manufacturing PMI
Summing up, the financial markets will likely continue to react to news about globally spreading corona virus in the near future. However, if you’re an investor and not a trader, you should pay extra attention to
Wednesday’s Fed Rate Decision along with their Monetary Policy update and
Thursday’s ECB’s release. In addition, series of other economic releases may show further virus impact on the U.S. economy this week.
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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.