EUROPEAN ECONOMICS PREVIEW: ECB MONETARY POLICY DECISION DUE
The monetary policy announcement from the European Central Bank is due on Thursday, headlining a light day for the European economic news.
The bank is expected to keep its policy rates and stimulus package unchanged at the rate-setting meeting of the year. The announcement is due at 7.45 am ET.
ECB President Christine Lagarde is set to hold the customary press conference at 8.30 am ET. At 2.45 am ET, the French statistical office Insee publishes business confidence survey results for April. The business confidence index is forecast to rise marginally to 99 from 98 in March.
At 3.00 am ET, consumer confidence survey data is due from Turkey.
At 4.00 am ET, Italy's Istat publishes industrial orders and turnover data for February. Sales had increased 2.5 percent on month in January.
At 6.00 am ET, the Confederation of British Industry releases Industrial Trends survey data. The order book balance is forecast to rise to 2 percent in April from -5 percent in March.
JAPAN LEADING, COINCIDENT INDEX DATA DUE ON MONDAY
Japan will on Monday release final February figures for its leading and coincident indexes, highlighting a light day for Asia-Pacific economic activity. Their previous readings were 98.5 and 90.3, respectively.
Singapore will provide March numbers for industrial production, with forecasts suggesting an increase of 2.2 percent on month and 3.0 percent on year. That follows the 1.6 percent monthly increase and the 16.4 percent annual spike in February.
Finally, the markets in New Zealand are closed on Monday for ANZAC Day and will reopen on Tuesday.
EUROPEAN ECONOMICS PREVIEW: ITALY'S BUSINESS CONFIDENCE DATA DUE
Business and consumer confidence data from Italy is due on Tuesday, headlining a light day for the European economic news.
At 3.30 am ET, Sweden's central bank is set to announce its interest rate decision. The bank is expected to hold its key rate at zero percent.
In the meantime, producer prices, foreign trade and unemployment figures are due from Statistics Sweden.
At 4.00 am ET, Italy's Istat releases business and consumer confidence survey results. The business confidence index is forecast to rise to 102.5 in April from 101.2 in March. The consumer sentiment index is seen at 102.0 versus 100.9 a month ago.
At 6.00 am ET, the Confederation of British Industry releases UK Distributive Trades survey results. The retail sales balance is seen at -5 percent in April versus -45 percent in March.
At 8.00 am ET, Hungary's central bank rate decision is due. Economists expect the bank to hold its key rate at 0.60 percent.
AUSTRALIA PRIVATE SECTOR CREDIT RISES 0.4% ON MONTH IN MARCH
Private sector credit in Australia was up 0.4 percent on month in March, the Reserve Bank of Australia said on Friday - after gaining 0.2 percent in February.
On a yearly basis, private sector credit climbed 1.0 percent after rising 1.6 percent in the previous month.
Housing credit was up 0.5 percent on month and 4.1 percent on year, while personal credit added 0.2 percent on month but tumbled 10.7 percent on year and business credit rose 0.3 percent on month and fell 2.6 percent on year.
Broad money was flat on month and jumped 9.6 percent on year.
MYANMAR MANUFACTURING PMI IMPROVES TO 33.0 IN APRIL - MARKIT
The manufacturing sector in Myanmar continued to contract in April, albeit at a slower pace, the latest survey from Markit Economics revealed on Monday with a manufacturing PMI score of 33.0.
That's up from 27.5 in March and it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
All five of the PMI components had positive directional influences on the headline figure in April, but four (the exception being suppliers' delivery times) remained well inside negative territory. Output and new orders both fell at the fifth-fastest rates in the survey history, while stocks of purchases and employment contracted at the third- and fourth-quickest rates on record, respectively.
Although firms expect output to rise by April 2022 on balance, overall expectations were the weakest in over two years.
As expected, the Reserve Bank of Australia left benchmark lending rate and the 3-year Australian Government bond yield target unchanged at 10 basis points. Following the announcement, the aussie rose against its major rivals.
The aussie was trading at 84.62 against the yen, 1.5547 against the euro, 0.7743 against the greenback and 1.0782 against the kiwi around 12:35 am ET.
HONG KONG PRIVATE SECTOR PMI EBBS IN APRIL - MARKIT
The private sector in Hong Kong continued to expand in April, albeit at a slower pace, the latest survey from Markit Economics showed on Wednesday with a services PMI score of 50.3.
That's down from 50.5 in March although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
A reduced level of COVID-19 case numbers and the loosening of restrictions contributed to improving business conditions at the start of the second quarter of the year.
Total new orders had fallen for the same length of time but stabilized during April. While the situation regarding the pandemic had shown signs of improvement, a number of firms continued to be negatively impacted, preventing more pronounced expansions in output and new orders.
Forex Forum fx.co – Introduction.
The Forex market is a high-yield and risky means of making a profit by trading on currency markets. The work tools at the Forex market in many ways determine the result of trading by participants, the brokers’ clients. Every Forex broker offers its own platform; however, most brokers and traders concur in choosing MetaTrader 4 and MetaTrader 5 platforms. This forum is for those who prefer the MetaTrader series platforms in trading on the Forex market.
Forex Forum fx.co – trade discussion.
Forex market forecasts, independent opinions of novice traders and experts – all this you will find in the Trade Discussions section. Solid experience of work on Forex is preferable, but everyone, including Forex newbies, is welcome to share their opinion. Mutual help and dialog are the main goals of communication in the Trade Discussions section.
Forex Forum fx.co – Dialog with brokers and traders (about brokers).
If you have a negative or positive experience of work with a Forex broker, share it here. Leave a comment about your broker; describe the advantages or drawbacks of working with it. The aggregate traders’ reviews of brokers constitute a rating. In this rating, you can see the leaders and outsiders of the Forex services market.
Free discussions at the Forex Forum fx.co
You are a trader and want to relax? Then the Free Discussion section is exactly what you need. No doubt, conversation on subjects related to the Forex market is preferable. Here you will find jokes about traders, caricatures of Forex brokers and full-swing Forex off-topic convo.
Bonuses for communication at Forex Forum fx.co
This forum is created by traders, for traders, and revolves around deriving a profit. However, each post at the Forex forum yields its author a forex bonus that can be used in Forex trading from the account opened with one of the forum’s sponsors. This small gift is presented with the aim to reward professional traders for spending time at our forum.
We appreciate your choice of Forex forum fx.co as a platform for communication.