The week following an Easter break on the markets is packed with top-tier releases from Europe and the United States. Traders will be offered jobs data for March from US and Canada, ISM indices for March as well as flash German CPI reading for March. Apart from that, RBA and ECB will also release minutes from latest meetings. Be sure to watch US500, USDCAD and EURAUD in the week ahead!
US500
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Create account Try a demo Download mobile app Download mobile appThe next week will see release of some key reports from the US economy, that may help influence market moves at the beginning of the second quarter of 2024. Among highlights one can find manufacturing ISM for March (Monday, 3:00 pm BST), services ISM for March (Wednesday, 3:00 pm BST), ADP report for March (Wednesday, 1:15 pm BST) and NFP report for March (Friday, 1:30 pm BST). US500 and other major Wall Street indices hover near all-time highs and solid data may fuel another leg higher in the current uptrend.
USDCAD
As is usual the case, simultaneously to the release of the US NFP report for March, traders will be offered a Canadian jobs report. Both reports will be released next Friday at 1:30 pm BST. This means that USDCAD is likely to experience volatility spike at that time. US jobs data is expected to remain strong, with NFP report forecast to show another month of over-200k jobs growth. Meanwhile, Canadian report is expected to show an employment gain of around 35k, what would be the eighth positive reading in a row.
EURAUD
Apart from USDCAD, another pair that may see some moves next week is EURAUD. This is because Reserve Bank of Australia and European Central Bank will release minutes from their latest meetings. RBA minutes will be released on Tuesday, 1:30 am BST, while ECB minutes will be release on Thursday, 12:30 pm BST. Flash CPI reading for March from Germany on Tuesday, 1:00 pm BST may also trigger some moves on EUR market. EURAUD has been trading largely sideways since mid-January 2024.
