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<b> MARKET</b> ANALYSIS <b> MARKET</b> ANALYSIS

MARKET ANALYSIS

Cutting-Edge Market Commentary for Informed Strategy Making

WEEKLY

OUTLOOK

24.04.2023-28.04.2023



Good morning traders.

  Market recession worries dominated last week with the sentiment taking a turn for the worse. The Fed’s outlook on the US economy is sour as “banks tightened lending standards amid increased uncertainty and concerns about liquidity”.
  On Monday the release of the German IFO Business Climate Index will indicate the economic activity in the manufacturing sector of not only Germany, but the Eurozone as a whole for the month of April. Across the ocean in the US the Dallas Fed will announce the results of the Texas Manufacturing Outlook Survey.
  The US Conference Board will reveal on Tuesday the level of confidence that individuals have in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn.
  On Wednesday the Australian Bureau of Statistics will announce the CPI print for Q1 with traders being optimistic that the data will indicate the strengthening of the Australian economy. Also, the US Census Bureau will the Core Durable Goods Orders later in the day. This report indicates the Change in the total value of new purchase orders placed with manufacturers for durable goods, excluding transportation items.
  During Asia session on Thursday, we will have the release of ANZ Business Confidence in New Zealand while later on in the US the Bureau of Economic Analysis and the US Department of Labor will make public the Advance GDP q/q and Unemployment Claims reports respectively.
  On Friday the economic docket includes the German GDP and CPI releases as well as the US Core PCE Price Index m/m.




                                  WEEK AHEAD

                                                                  


Monday 24 April

Time CEST

Cur.

Event

Forecast

Previous

10:00

EUR

German Ifo Business Climate Index (Apr)

73.1

93.3

14:30

CAD

New Housing Price Index (MoM) (Mar)

0.1%

-0.2%

16:30

USD

Dallas Fed Mfg Business Index (Apr)

-17.1

-15.7


Tuesday 25 April

Time CEST

Cur.

Event

Forecast

Previous

14:30

CAD

Wholesale Sales (MoM)

-1.9

-1.7%

16:00

USD

CB Consumer Confidence (Apr)

103.1

104.2

16:00

USD

New Home Sales (Mar)

631K

640K


Wednesday 26 April

Time CEST

Cur.

Event

Forecast

Previous

03:30

AUD

CPI (QoQ) (Q1)

1.7%

1.9%

14:30

USD

Core Durable Goods Orders (MoM) (Mar)

-0.4%

-0.1%

19:30

CAD

BOC Summary of Deliberations

-

-


Thursday 27 April

Time CEST

Cur.

Event

Forecast

Previous

03:00

NZD

ANZ Business Confidence (Apr)

-44.9

-43.4

14:30

USD

Initial Jobless Claims

246K

241K

16:00

USD

Pending Home Sales (MoM) (Mar)

1.1%

0.8%


Friday 28 April

Time CEST

Cur.

Event

Forecast

Previous

08:00

EUR

German GDP (QoQ) (Q1)

1.1%

0.9%

14:00

EUR

German CPI (MoM) (Apr)

0.7%

0.8%

14:30

USD

Core PCE Price Index (MoM) (Mar)

0.3%

0.3%



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RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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