In This Article:
On the Macro
For the Dollar
Economic data is on the lighter side in the week ahead. January factory orders, due out on Tuesday, kick-off the week. March Philly FED Manufacturing Figures and the weekly jobless claims figures on Thursday will have a greater influence. Prelim private sector PMI numbers and February new home sales due out on Friday will also need to be monitored.
Outside of the data, the FED’s March monetary policy decision will be the key driver for the Dollar. While rates are likely to be left untouched, the economic projections and outlook on policy will be key.
The Dollar Spot Index ended the week down by 0.73% to $96.595
For the EUR
It’s a busy week ahead for the EUR. In the early part of the week, Eurozone trade figures on Monday and economic sentiment and wage growth figures on Tuesday will be the key drivers. A lack of stats mid-week will leave the EUR in the hands of market risk sentiment ahead of a busy Friday. Prelim March private-sector PMI numbers will be key for the week, Germany’s manufacturing PMI likely to be the main area of focus. Outside of the numbers, the ECB Economic Bulletin on Thursday will also provide the EUR with direction.
The EUR/USD ended the week up 0.81% to $1.1326.
For the Pound
It’s a particularly busy week ahead. Employment and wage growth figures kick the week off on Tuesday. February inflation figures will be the key driver on Wednesday ahead of a busy Thursday. February retail sales figures are released on Thursday ahead of the BoE’s March monetary policy decision.
Outside of the stats and BoE policy decision, Theresa May’s Brexit deal will materially influence the Pound as will any EU member state vote on a Brexit delay submission.
The GBP/USD ended the week up 2.11% at $1.3290.
For the Loonie
It’s a busier week than normal. January wholesale sales figures on Thursday will be in focus ahead of a busy Friday. Stats due out of Canada on Friday include February inflation and January retail sales figures. We can expect both sets of figures to have a material impact. Foreign securities purchases released at the start of the week will likely be ignored.
Outside the numbers, we can expect risk sentiment and crude oil prices to also provide direction.
The Loonie ended the week up by 0.60% to C$1.3336 against the U.S Dollar.
Out of Asia
For the Aussie Dollar
Economic data is limited to 4th quarter house price figures due out on Monday and February employment figures on Thursday. The employment numbers will be the key driver from the data side.