Germany Business Expectations
WHEN: WHAT IT INFLUENCES:
26 th APRIL 2021 EUR and its subsequent
pairs
WHAT’S HAPPENING:
German Business Expectations rates the expectations of businesses in Germany for the following six months. It is a sub-index of the German Ifo Business Climate Index.
A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.
U.S. Core Durable Goods Orders MoM, USA
WHEN: WHAT IT INFLUENCES:
26thApril 2021 USD and its subsequent
pairs
WHAT’S HAPPENING:
Core Durable Goods Orders measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items. Because aircraft orders are very volatile, the core number gives a better gauge of ordering trends. A higher reading indicates increased manufacturing activity.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
Bank of Japan Monetary Policy Statement,JAPAN
WHEN: WHAT IT INFLUENCES:
26th APRIL 2021 JPY and its subsequent
pairs
WHAT’S HAPPENING:
Bank of Japan Monetary Policy Statement contains the outcome of the BoJ’s decision on asset purchases and commentary about the economic conditions that influenced their decision.
Gold Down 2nd Week in Row as Nemesis Yield Returns
WHAT IT HAD INFLUENCED:
GOLD
WHAT HAPPENED:
Gold was down for a fourth day in a row Friday as intermittent spikes in the key yield of U.S. bonds kept it under constant pressure.
The yield on the 10-year Treasury note hit a two-week high of 1.684 on Thursday as bonds started selling off again this week after a spike in U.S. consumer confidence, which hit 14-month highs in April.
Aside from consumer spending, a rash of US economic data, from inflation to homebuilding, house prices and employment, have exceeded forecasts lately, boosting hopes for faster-than-expected recovery from the coronavirus pandemic.
Crude Oil Prices Slip
WHAT IT HAD INFLUENCED:
BRENT & WTI CRUDE OIL
WHAT HAPPENED:
Crude oil prices slipped on Friday, following a broader risk-off move in equities, with news of a further rise in Iranian output adding to reasons to lock in profits at the end of a strong month.
As of next week, Saudi Arabia will start to unwind the voluntary 1 million barrel a day output cut it put in place in February, confident that reviving world demand will absorb the extra barrels. At the same time, the rest of the OPEC+ bloc will also open their taps a little wider, as part of a plan to return another 1 million b/d of production by the end of the second quarter.
Reports reveealed in a monthly survey that Iranian crude output had risen another 200,000 barrels a day on average in April, offsetting involuntary production shortfalls at other OPEC members such as Libya in the course of the month. The return of Iranian crude to the world market is gathering speed as the pressure from Trump-era sanctions on the Islamic Republic weakens. Iran is free to increase its output because it isn’t bound by the so-called OPEC+ pact on withholding supply from the market.
5 KEY EVENTS TO WATCH OUT
Germany Manufacturing Purchasing Managers Index (PMI)
WHEN: WHAT IT INFLUENCES:
3rd May 2021 EUR and its subsequent pairs
WHAT’S HAPPENING:
The German Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.
A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.
Australia Interest Rate Decision
WHEN: WHAT IT INFLUENCES:
4th May 2021 EUR and its subsequent pairs
WHAT’S HAPPENING:
Reserve Bank of Australia (RBA) board members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.
A higher than expected rate is positive/bullish for the AUD, while a lower than expected rate is negative/bearish for the AUD.
U.S. ADP Nonfarm Employment Change
WHEN: WHAT IT INFLUENCES:
5th May 2021 USD and its subsequent
pairs
WHAT’S HAPPENING:
The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is a good predictor of the government’s non-farm payroll report. The change in this indicator can be very volatile.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
U.S. Initial Jobless Claims
WHEN: WHAT IT INFLUENCES:
6th May 2021 USD and its subsequent
Pairs
WHAT’S HAPPENING:
Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.
A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.
U.K. Interest Rate Decision
WHEN: WHAT IT INFLUENCES:
6th May 2021 GBP and its subsequent
pairs
WHAT’S HAPPENING:
Bank of England (BOE) monetary policy committee members vote on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.
A higher than expected rate is positive/bullish for the GBP, while a lower than expected rate is negative/bearish for the GBP.
EQUITIES IN THE COMING WEEK
1. Pfizer(PFE) to announce its Quarterly Results on 4th May 2021, EPS estimated to 0.7773 per share while revenue estimated 13.67B.
2. Hyatt(H) to announce its Quarterly Results on 4th May 2021, EPS estimated to -1.3 per share while revenue estimated 465.32M.
3.Paypal (PYPL) to announce its Quarterly Results on 5th May 2021, EPS estimated to 1.01 per share while revenue estimated 5.9B.
4. Uber Tech (UBER) to announce its Quarterly Results on 5th May 2021, EPS estimated to -0.557 per share while revenue estimated 102.28B.
5. Black Rock (TCPC) to announce its Quarterly Results on 5th May 2021, EPS estimated to 0.3186 per share while revenue estimated 844.56M.
TOP CURRENCIES IN THE UPCOMING WEEK
EUR/USD
EUR/USD is trading in a upward channel, the Up side can be seen in the coming days.
USD/JPY
USD/JPY is trading in a Downward channel, the Down side can be seen in the coming days
GBP/USD
GBP/USD is trading in an Upward channel, the Up side can be seen in the coming days.
TOP INDEX TO WATCH OUT
Nasdaq 100
Nasdaq 100 is trading in a upward channel, the Up side can be seen in the coming days.
CAC 40
CAC 40 is trading in a upward channel, the Up side can be seen in the coming days.
FTSE 100
FTSE 100 is trading in a upward channel, the Up side can be seen in the coming days.
TOP COMMODITIES TO WATCH OUT
GOLD
Gold is trading in a upward channel, the Up side can be seen in the coming days.
Brent Oil
Brent Crude is trading in a upward channel, the Up side can be seen in the coming days.
TOP CRYPTO -CURRENCIES TO WATCH OUT
Bitcoin
Bitcoin is trading in a upward channel, the Up side can be seen in the coming days.
ETHEREUM
Ethereum is trading in a upward channel, the Up side can be seen in the coming days.
DATA WATCH
