Last week’s Thursday’s Unemployment Claims number release has been a real eye-opener for the financial markets. The scheduled economic data releases may show coronavirus crisis impact on the economy. So, markets will likely pay more attention to the releases in the near future. Let’s take a look at the details.
The week behind
The economic data releases have been overshadowed by the ongoing coronavirus crisis developments again. But we had one exception – Thursday’s Unemployment Claims number surpassing 3 million! And it was the first data to show impact of the pandemic on the U.S. economy.
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, we could also see more evident data showing the virus crisis impact on the economy. Investors will likely await Tuesday’s Consumer Confidence number, then Wednesday’s and Friday’s PMI numbers. We will also have the monthly jobs data release on Friday, preceded by ADP Non-Farm Employment Change number release on Wednesday. The monthly employment data releases may also show the initial pandemic impact on the economy. Let’s take a look at key highlights:
-
On Friday we will get monthly Nonfarm Payrolls along with Unemployment Rate.
-
Investors will also wait for Tuesday’s Consumer Confidence, Wednesday’s and Friday’s PMI numbers and Thursday’s Unemployment Claims releases.
-
Wednesday’s ADP Non-farm Employment Change will precede the mentioned Friday’s monthly jobs data release.
-
Oil traders will await Wednesday’s inventories data release.
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 doesn’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 31
- 10:00 a.m. U.S. - CB Consumer Confidence
Wednesday, April 1
-
8:15 a.m. U.S. - ADP Non-Farm Employment Change
-
10:00 a.m. U.S. - ISM Manufacturing PMI
Thursday, April 2
- 8:30 a.m. U.S. - Unemployment Claims
Friday, April 3
-
8:30 a.m. U.S. – Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
-
10:00 a.m. U.S. - ISM Non-Manufacturing PMI
Crude Oil
Tuesday, March 31
- 10:00 a.m. U.S. - CB Consumer Confidence
Wednesday, April 1
-
8:15 a.m. U.S. - ADP Non-Farm Employment Change
-
10:00 a.m. U.S. - ISM Manufacturing PMI
-
10:30 a.m. U.S. - Crude Oil Inventories
Thursday, April 2
- 8:30 a.m. U.S. - Unemployment Claims
Friday, April 3
-
8:30 a.m. U.S. – Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
-
10:00 a.m. U.S. - ISM Non-Manufacturing PMI
Stock Markets
Monday, March 30
- 9:00 p.m. China - Manufacturing PMI
Tuesday, March 31
- 10:00 a.m. U.S. - CB Consumer Confidence
Wednesday, April 1
-
8:15 a.m. U.S. - ADP Non-Farm Employment Change
-
10:00 a.m. U.S. - ISM Manufacturing PMI
Thursday, April 2
- 8:30 a.m. U.S. - Unemployment Claims
Friday, April 3
-
8:30 a.m. U.S. – Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
-
10:00 a.m. U.S. - ISM Non-Manufacturing PMI
EUR/USD
Tuesday, March 31
- 10:00 a.m. U.S. - CB Consumer Confidence
Wednesday, April 1
-
8:15 a.m. U.S. - ADP Non-Farm Employment Change
-
10:00 a.m. U.S. - ISM Manufacturing PMI
Thursday, April 2
- 8:30 a.m. U.S. - Unemployment Claims
Friday, April 3
-
8:30 a.m. U.S. – Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
-
10:00 a.m. U.S. - ISM Non-Manufacturing PMI
USD/JPY
Tuesday, March 31
- 10:00 a.m. U.S. - CB Consumer Confidence
Wednesday, April 1
-
8:15 a.m. U.S. - ADP Non-Farm Employment Change
-
10:00 a.m. U.S. - ISM Manufacturing PMI
Friday, April 3
-
8:30 a.m. U.S. – Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
-
10:00 a.m. U.S. - ISM Non-Manufacturing PMI
GBP/USD
Wednesday, April 1
-
8:15 a.m. U.S. - ADP Non-Farm Employment Change
-
10:00 a.m. U.S. - ISM Manufacturing PMI
Friday, April 3
-
8:30 a.m. U.S. – Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
-
10:00 a.m. U.S. - ISM Non-Manufacturing PMI
USD/CAD
Tuesday, March 31
-
8:30 a.m. Canada - GDP m/m
-
10:00 a.m. U.S. - CB Consumer Confidence
Wednesday, April 1
-
8:15 a.m. U.S. - ADP Non-Farm Employment Change
-
10:00 a.m. U.S. - ISM Manufacturing PMI
Thursday, April 2
- 8:30 a.m. U.S. - Unemployment Claims
Friday, April 3
-
8:30 a.m. U.S. – Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
-
10:00 a.m. U.S. - ISM Non-Manufacturing PMI
AUD/USD
Wednesday, April 1
-
8:15 a.m. U.S. - ADP Non-Farm Employment Change
-
10:00 a.m. U.S. - ISM Manufacturing PMI
Friday, April 3
-
8:30 a.m. U.S. – Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
-
10:00 a.m. U.S. - ISM Non-Manufacturing PMI
Summing up, the financial markets will likely continue to react to scary news about globally spreading coronavirus 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 Friday's U.S. monthly jobs data release. This week’s PMI numbers, Consumer Confidence, and Unemployment Claims releases may show the virus impact on the economy.
Want free follow-ups to the above article and details not available to 99%+ investors? Sign up to our free newsletter today!
All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits' employees and associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski's, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.