Again a holiday thinned week which will likely see more action after the Monday European holiday.
However the economic figures coming out of the US in particular are better than expected leading to a weakening of the US$ but higher stocks; as the market reassesses its pessimistic companies earnings. The figures later in the week are important for clues as to the continuation of economic improvement across the economy.
A paradox is that oil is lower on fears of covid related demand decline so the optimism is being tempered by the new flare up in Europe, also Saudi have indicated they are to unwind some of their voluntary oil production cuts.
The market is still concerned about the likelihood and timings of any changes in interest rates thus the FOMC minutes will be scrutinised for clues.
|
Date |
Country |
Figures |
Expected |
Previous |
|
April 6 |
EU |
Unemployment |
8.1% |
8.1% |
|
April 7 |
EU |
PMI |
48.80 |
48.80 |
|
|
USA |
Trade Balance |
-70.5B |
62.8B |
|
|
USA |
FOMC Minutes |
|
|
|
April 8 |
USA |
Initial Jobless Claims |
650k |
719k |
|
|
USA |
Feds Powell Speech |
|
|
|
April 9 |
EU |
Trade Balance (Germany) |
16.4B |
22.2B |
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