21, April 2017

Weekly Outlook: Apr 24 - Apr 28

Monday

Europe: Germany comes first on a long list of events next week. Business expectations and lfo business climate index for April are due to be released as of 08:00 GMT, with consensus pointing a 106.0 and 112.3 respectively. In the United Kingdom, CBI industrial trends orders for April will be out as of 10:00 GMT.

United States: No relevant reports are scheduled on Monday. Attention will be directed to Minneapolis Fed President Neel Kashkari’s speech at 15:30 GMT.

Tuesday

United States: The S&P/Case-Shiller House Price Index, which gauges variations in the selling price of family homes in 20 different metropolitan zones, is set to be presented at 13:00 GMT. This index can be useful to measure inflation in the real estate market. The Conference Board will release its consumer confidence index for April at 14:00 GMT. In parallel, investors will count on new homes sales for March. After 20:00 GMT, the American Petroleum Institute will present its weekly report on crude oil stockpiles.

Wednesday

United States: The data front remains thin, with traders expected to focus almost entirely on commodities. Attention will be placed at the weekly inventories stats from the US Energy Information Administration, which are due to be released as of 14:30 GMT. According to the latest report of the Energy Department, crude stockpiles notched down 1.034 million barrels in the week ended April 12. Investors will pay close attention to the dynamics of gasoline reserves, which should start decreasing in light of the summer driving season.

Thursday

Asia: Investors will have to wake up early or rather don’t sleep at all in order to trade Bank of Japan’s interest rate decision and monetary policy statement. The BOJ is expected to leave short-term benchmark rates steady at -0.10 percent. At 06:30 GMT monetary authorities will give a press conference. By the end of the day, Japan will come back in focus with fresh economic reports, including household spending (F: -0.8%), jobs/applications ratio (F: 1.43), consumer price index (F: 0.3%), industrial production (F: -0.8%) and retail sales (F: 1.5%).

Europe: The European Central Bank is also holding its monetary policy meeting in the day, although there are no changes expected regarding its current policy settings and bond buying program. ECB’s interest rate decision will be announced as of 11:45 GMT and the press conference is set for 12:30 GMT. Deposit facility rate currently stands at -0.40 percent, while the short term interest rate stands at 0.00 percent. Additionally, Germany will release its consumer price index for April, which is due to edged down in 0.1 percent.

United States: Investors will be looking at durable goods orders and goods trade balance for March at 12:30 GMT.  Pending home sales will also be released as of 14:00 GMT.

Friday

Europe: Germany’s retail sales for March are set to be presented at 06:00 GMT, with expectations for a 0.3 percent reduction. In the United Kingdom, a preliminary reading on the first-quarter gross domestic product will be out at 08:30 GMT, with analysts forecasting a quarterly expansion of 0.4 percent and a year-over-year growth rate of 2.2 percent. April’s consumer price index from the Eurozone is scheduled at 12:30 GMT, with a 1.7 percent eyed.

United States: The week will end with a first look at the Q1 gross domestic product at 12:30 GMT, together with the employment cost index. Michigan consumer expectations and sentiment for April are due as of 14:00 GMT. Baker Hughes, as usual, to be presented at 17:00 GMT.