The markets will pay more attention to the next economic data releases

It has happened again. The scheduled economic data releases were much less important than virus crisis news last week. However, the coming releases are starting to show a severe economic downturn. So, markets will likely pay more attention to the economic data releases in the near future. Let's take a look at the details.

 

The week behind

Global financial markets were much calmer last week following earlier risk-on assets' meltdown. However, they continued to react to news about the ongoing corona virus crisis. The economic data releases were overshadowed by spreading pandemic fears again. But the economic data releases are starting to show a severe economic downturn: Thursday's U.S. Unemployment Claims have been much worse than expected.

 

The week ahead

What about the coming week? It is very likely that investors will continue to react to the mentioned virus scare again this week. However, the market will also wait for the U.S. Flash Manufacturing PMI and Flash Services PMI numbers on Tuesday and the Unemployment Claims along with the Final GDP number on Thursday. We will also get the Eurozone data: PMI numbers on Tuesday and the German ifo number on Wednesday. The British Pound traders will await Thursday's monetary policy update from Bank of England. Let's take a look at key highlights:

• On Tuesday we will get the U.S. Flash Manufacturing PMI and Flash Services PMI numbers. Then on Thursday, the Unemployment Claims and Final GDP will be released.

• In Eurozone, on Tuesday we will get PMI numbers, including the German Flash Manufacturing PMI release. On Wednesday we will also get the German Final ifo Business Climate.

• There will be important economic data from the U.K. this week, including Thursday's Official Bank Rate, Monetary Policy Summary, MPC Official Bank Rate Votes releases.

• Oil traders will await Tuesday's and Friday's inventories data releases.

You will find this week's the key news releases below (EST time zone). For your convenience, we broken them down per market to which they are particularly important, so that you know what to pay extra attention to, if you have or plan to have positions in one of them. Moreover, we put the particularly important news in bold. This kind of news is what is more likely to trigger volatile movements. The news that are not in bold usually don't result in bigger intraday moves, so unless one is engaging in a particularly active form of day trading, it might be best to focus on the news that we put in bold. Of course, you are free to use the below indications as you see fit. As far as we are concerned, we are usually not engaging in any day trading during days with "bold" events on a given market. However, in case of more medium-term trades, we usually choose to be aware of the increased intraday volatility, but not change the currently opened position.

Our Market News Report consists of two different time-related perspectives. The investors' perspective is only suitable for the long-term investments. The single economic data releases rarely cause major outlook changes. Hence, we will only see a handful of bold markings every week. On the other hand, the traders' perspective is for traders and day-traders, because the assets' prices are likely to react on a single piece of economic data. So, there will be a lot more bold markings on potentially market-moving news every week.

 

Investors' Perspective

 

Gold, Silver, and Mining Stocks

Tuesday, March 24

• 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI

Thursday, March 26

• 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q

 

Crude Oil

Tuesday, March 24

• 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI

• 4:30 p.m. U.S. - API Weekly Crude Oil Stock

Wednesday, March 25

• 10:30 a.m. U.S. - Crude Oil Inventories

Thursday, March 26

• 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q

 

Stock Markets

Tuesday, March 24

• 4:30 a.m. Eurozone - German Flash Manufacturing PMI

• 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI

Wednesday, March 25

• 5:00 a.m. Eurozone - German Final ifo Business Climate

Thursday, March 26

• 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q

 

EUR/USD

Tuesday, March 24

• 4:30 a.m. Eurozone - German Flash Manufacturing PMI

• 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI

Wednesday, March 25

• 5:00 a.m. Eurozone - German Final ifo Business Climate

Thursday, March 26

• 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q USD/JPY Thursday, March 26

• 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q

 

GBP/USD

Tuesday, March 24

• 5:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI

Wednesday, March 25

• 5:30 a.m. U.K. - CPI y/y

Thursday, March 26

• 5:30 a.m. U.K. - Retail Sales m/m

• 8:00 a.m. U.K. - Official Bank Rate, Monetary Policy Summary, MPC Official Bank Rate Votes

• 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q

 

USD/CAD

Tuesday, March 24

• 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI

Thursday, March 26

• 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q

 

AUD/USD

Thursday, March 26

• 8:30 a.m. U.S. - Unemployment Claims, Final GDP q/q

Summing up, the financial markets will likely continue to react to scary news about globally spreading corona virus in the coming week. The scheduled economic data releases seem less important than monetary policy updates or news about governments' interventions recently. However, if you're an investor and not a trader, you should pay extra attention to Tuesday's U.S. PMI numbers releases. On Thursday there will also be important economic data release from the Bank of England.

 

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