DEPOSIT METHODS
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WEEKLY |
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OUTLOOK |
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17.04.2023-21.04.2023
Good morning traders.
A quite start to the week with most markets remaining closed on Easter Monday. On a fundamental level we note the ending of China’s military drill around the island of Taiwan which put to the test the US-China tension. On Tuesday data released by the Chinese National Bureau of Statistics revealed that the consumer price index slowed more than expected reaching the lowest levels since September 2021. On Wednesday inflation data coming from the US showed that inflation is declining even more. CPI came below the market expectation of 5.2% at 5.0% on a yearly basis in March. Fed’s probably calmer after the release of the data and its now more likely to support the emerging positive trend. BOC later on the day kept the key interest unchanged at 4.50% giving the Loonie a boost after the announcement. Early Thursday Aussie rallied after Australia Bureau of Statistics announced the unemployment data which came near market expectations at 3.5%. In Europe, UK’s National statistics released the GDP data which showed that the British economy stagnated at 0% in February, compared with 0.1% expectations. In the US the Producer Price Index (PPI) for final demand declined to 2.7% on a yearly basis in March putting the dollar under a renewed selling pressure. On Friday Retail Sales in the United States declined 1% on a monthly basis in March to $691.7 billion showing a potential tightening in consumer spending, as such reduced consumer spending may limit the Fed’s ability to continue increasing interest rates as the economy may be reaching a slowdown.
WEEK AHEAD
Monday 17 April
Time CEST
Cur.
Event
Forecast
Previous
14:30
USD
NY Empire State
Manufacturing Index (Apr)
-14.50
-24.60
14:30
CAD
Wholesale
Sales (MoM) (Feb)
3.1%
2.4%
22:00
USD
TIC Net Long-Term
Transactions (Feb)
28.7B
31.9B
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