Welcome to the Investors Trading Academy economic
calendar of the week. Each week our news analysts review the upcoming economic events that you
should be monitoring. Headlines over terrorism and immigration will dominate the markets
after the triple bombings in Brussels spread worries throughout Europe. Monday sees many
markets on extended holidays for Easter Monday. In the UK, the heaviest day for releases will
be Thursday, with figures on fourth quarter Gross Domestic Product, monthly mortgage approvals,
money supply and the current account balance (deficit) are all set for release.
Previously, on Tuesday, British lenders would find out whether the Old Lady on Threadneedle
Street wants them to start building up additional capital buffers to guard against the potential
risks that might arise from looser lending. Of course, in the end the week’s main event
is still expected to be the March US non-farm payrolls report.
In the Eurozone, a slate of manufacturing sector purchasing managers’ indices out of
the euro area will also be worth watching for any signs of improvement on the heels
of the European Central Bank’s latest stimulus measures.
On Friday in the US, the all-important monthly jobs report is issued. Main interest is in
job numbers — in particular, the change in non-farm payrolls. And economists expect
that 200,000 jobs were created in March, down from 242,000 in February. The unemployment
rate may have held steady at 4.9 per cent with average earnings up 0.2 per cent. The
wage reading is important. Higher wages infer higher inflation and higher interest rates.
Also on Friday, consumer sentiment, construction spending and car sales data are released with
the ISM manufacturing reading. In China, purchasing manager surveys for manufacturing and services
are due. Strong growth in jobs and a decent pickup
in wage growth could see the greenback rally gather momentum, which would have deleterious
consequences for oil prices. Company news is very thin on the ground this
week, with some way to go before we get into the next US earnings season. As a result,
the economic calendar will be the main focus, and here at least we have a decent selection
of data from the major economies, including China, which will release PMI data for both
its manufacturing and services sectors.