On the macro
It’s a calmer week ahead on the economic calendar, with 49 stats coming out in the week ending April 29. The previous week, 57 statistics were in focus.
Core numbers on durable goods and consumer confidence will be in focus on Tuesday. Expect consumer confidence to have a greater influence.
On Thursday, the market’s focus will shift to first quarter GDP and weekly jobless claims. Barring a spike in unemployment insurance claims, GDP numbers will be key.
At the end of the week, inflation and personal spending will end a busy week for the dollar.
During the week ending April 22, the Dollar Spot Index gained 0.72% to end the week at 101.22.
Early in the week, German business sentiment will provide guidance. Expect another slide to test EUR support.
On Wednesday, the German consumer sentiment numbers will also influence ahead of the first quarter GDP numbers on Friday.
GDP figures from France, Germany and Spain will be the main statistics at the end of the week.
For the week, the USD fell 0.62% to $1.0810.
For the pound:
It’s a quiet week ahead, with economic data limited to CBI industrial trend orders. With little else to consider, expect pound-to-numbers sensitivity.
During the week, the Grind slid 1.69% to end the week at $1.2839.
For the Loonie:
It is also a quiet week ahead. The February GDP figures will be in focus. We do not expect these figures to have a significant impact on the BoC’s monetary policy and on the loonie.
During the week ending April 22, the Loonie fell 0.79 to C$1.2710 against the greenback.
From Asia Pacific
For the Australian dollar:
Inflation and retail sales will be the main concerns during the week.
On Wednesday, first-quarter consumer prices came out ahead of Thursday’s retail sales. The numbers will be key considerations for the RBA and policy outlook.
Friday’s headline inflation numbers will also be of interest.
Other statistics include private sector credit figures for March, which will have a moderate impact on the Australian dollar.
the Australian dollar fell 2.04% to $0.7244.
For the kiwi dollar:
Trade data and business confidence figures will be the main focus on Thursday. Weak numbers would further test Kiwi Dollar support after last week’s selloff.
In China, expect private sector PMIs and updates on lockdown measures to influence as well.
the kiwi dollar ended the week down 1.85% to end the week at $0.6639.
For the Japanese yen:
It’s a quiet week ahead, with statistics limited to retail sales and final industrial production figures.
Expect more interest in the retail sales figures.
This week, the Bank of Japan will also deliver its policy decision on Thursday. Markets expect no change in the political outlook, which should leave the yen on the defensive.
the japanese yen slid 1.61% to end the week at ¥128.50 against the dollar.
Outside of China
It’s a calmer week ahead, with manufacturing PMI numbers for April due out on Friday. Markets will look to assess the damage done to manufacturing activity following the latest lockdown measures and the war in Ukraine.
During the week ending April 22, the Chinese yuan fell 2.04% to CNY 6.5014 against the dollar.
Russia and Ukraine will remain at the center of attention over the coming week.
This article was originally published on FX Empire
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