Week's main events (April 24

This week's main events will be the Bank of Japan meeting and the PCE index data, which is considered a more important inflation indicator for the US Fed. The new Governor of the Bank of Japan, Kazuo Ueda, will hold his first meeting on Friday, and while analysts do not expect any changes to the Central Bank's ultra-soft monetary policy, they are on alert for possible surprises. The US PCE Price Index is expected to fall, while the core index is expected to remain high. Also, this week, GDP data in the US and several European countries will be released. And do not forget about the earnings season. Some major technology companies such as Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), and (META) are expected to report earnings this week.

Monday, April 24

Monday will not be rich in economic events. Investors may be interested in inflation data in Singapore as well as Germany's business climate index.

Main events of the day:

– Singapore Consumer Price Index (m/m) at 08:00 (GMT+3);
– German Ifo Business Climate (m/m) at 11:00 (GMT+3);
– Canada Wholesale Sales (m/m) at 15:30 (GMT+3).

Tuesday, April 25

On Tuesday, traders should pay attention to the US CB Consumer Confidence data, which shows how consumers feel about spending and saving money at a time of high-interest rates. It's a bank holiday in Australia and New Zealand.

Main events of the day:

– US Building Permits (m/m) at 15:00 (GMT+3);
– US CB Consumer Confidence (m/m) at 17:00 (GMT+3);
– US New Home Sales (m/m) at 17:00 (GMT+3).

Wednesday, April 26

The main event on Wednesday will be consumer price data in Australia. The data is released every quarter and is likely to have a strong effect on the pairs with AUD. Traders should also pay attention to the crude oil report. The oil market remains tight, so this data will be important for price volatility with oil.

Main events of the day:

– New Zealand Trade Balance (q/q) at 01:45 (GMT+3);
– Australia Consumer Price Index (q/q) at 04:30 (GMT+3);
– US Durable Goods Orders (m/m) at 15:30 (GMT+3);
– US Crude Oil Reserves (w/w) at 17:30 (GMT+3).

Thursday, April 27

Thursday is not expected to be an economical event at the European session, but the second half of the day will be saturated with US data. The main reports will be the US GDP report and weekly labor market data. GDP data is expected to show strong growth, with consumer spending expected to remain strong. Traders should also pay attention to Natural Gas Storage, which significantly affects gas prices.

Main events of the day:

– US GDP (q/q) at 15:30 (GMT+3);
– US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
– US Pending Home Sales (m/m) at 17:00 (GMT+3);
– China Loan Prime Rate (m/m) at 04:15 (GMT+3);
– Natural Gas Storage (w/w) at 17:30 (GMT+3).

Friday, April 28

Friday will be full of economic events in various countries. In Japan, the central bank will hold its first monetary policy meeting under a new governor. No changes are forecast, but there may be surprises. Volatility on currency pairs with the Japanese Yen will increase. Also, on Friday, a number of European countries will release their GDP and inflation data. The focus will be on Germany, which is the largest economy in the region. Friday afternoon in the US will be another important inflation report – PCE Price Index, which is more important than CPI for the US Federal Reserve.

Main events of the day:

– Japan Tokyo Core CPI (m/m) at 02:30 (GMT+3);
– Japan Unemployment Rate (m/m) at 02:30 (GMT+3);
– Japan Industrial Production (m/m) at 02:50 (GMT+3);
– Japan Retail Sales (m/m) at 02:50 (GMT+3);
– Australia Producer Price Index (q/q) at 04:30 (GMT+3);
– Japan BoJ Monetary Policy Statement at 06:00 (GMT+3);
– Japan BoJ Interest Rate Decision at 06:00 (GMT+3);
– Japan BoJ Outlook Report at 06:00 (GMT+3);
– Japan BoJ Press Conference at 08:00 (GMT+3);
– French GDP (q/q) at 08:30 (GMT+3);
– French Consumer Price Index (m/m) at 09:45 (GMT+3);
– Spanish GDP (q/q) at 10:00 (GMT+3);
– Spanish Consumer Price Index (m/m) at 10:00 (GMT+3);
– German Unemployment Rate (m/m) at 10:55 (GMT+3);
– German GDP (q/q) at 11:00 (GMT+3);
– Switzerland SNB Chairman Thomas Jordan speaks at 11:00 (GMT+3);
– Eurozone GDP (q/q) at 11:00 (GMT+3);
– German Consumer Price Index (m/m) at 15:00 (GMT+3);
– US PCE Price Index (m/m) at 15:30 (GMT+3);
– Canada GDP (q/q) at 15:30 (GMT+3);
– US Michigan Consumer Sentiment (m/m) at 17:00 (GMT+3).

by JustMarkets, 2023.04.24

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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Week's main events (April 24 – April 28)

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