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The week ahead 08.04.2019

08/04/2019

Monday starts with the German Trade balance at 06:00 GMT, which will be carefully studied for evidence of confirmation that the suspicions around the health of the German Economy, and by extension, the Eurozone. US Factory Orders follow at 14:00, expected to show a decline. We only have a single number to look forward to on Tuesday, US Job Openings / Labour Turnover, scheduled for 14:00. Things pick up a bit on Wednesday with UK GDP at 10:00, followed by the ECB Interest Rate Decision (no change expected). As usual, the accompanying Policy Statement will be picked apart for clues to future direction. The US release CPI data at 12:30 and the FOMC get in on the action at 18:00, when the minutes of their most recent meeting will be released, although this is unlikely to include any major surprises. Thursday gets off to an early start with Chinese CPI for March at 01:30, with a decline expected from February’s surprise 1% increase. US Producer prices follow somewhat later at 12:30. There are OPEC meetings all day so oil traders should be on the alert for unguarded comments causing fluctuations. To close the week out there are a couple of figures out on Friday, in the form of the Chinese Trade balance (significant potential for impact) and Michigan Consumer sentiment (unlikely to affect markets).

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