This week we will hear the minutes of the latest meetings of the Federal Reserve and the European Central Bank. In Australia and Canada, monetary policy meetings of representatives of the central banks there will be held.
In the transcript of the Fed's March meeting, investors may pay attention to details of the balance sheet reduction plans, as well as additional comments on the outlook for economic growth, inflation and interest rates. Significant information and indications may also appear in speeches by several Fed officials scheduled for this week. From the macroeconomic data, the most important publications for this week seem to be PMI and ISM indices.
This week we will also learn about the unemployment rate and change in employment in Canada, export and import data and Ivey PMI. The European Central Bank will release its monetary policy meeting reports. In March, EBP policymakers unexpectedly accelerated the asset purchase schedule for the coming months and announced that the APP could end in the third quarter if the medium-term inflation outlook does not weaken.
On the economic calendar, industrial production and factory orders in Germany are expected to fall, while industrial production growth in France is likely to fall from a one-year high. Other highlights include producer prices and retail sales in the Eurozone, foreign trade and current account in Germany, Q4 GDP and inflation data in Russia, unemployment rate in Switzerland and inflation in Turkey. Updates to the S&P Global services PMI and composite indexes for several European countries will also be published, as well as services PMIs for China, Japan and Australia.
Asia and Oceania will host highly anticipated central bank meetings, including Australia's central bank. The RBA continues to hold interest rates at a record low of 0.1 percent, despite intensifying inflationary pressures.
Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Forex service)
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