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At 03:30 (GMT+2), data on the consumer price index in China for March will be released. It is the main indicator of the inflation rate in the country, which determines the change in the level of retail prices for a certain “basket” of goods and services: food, transportation, utilities, healthcare and so on. It has a significant impact on monetary policy decisions. It is expected that CPI will decrease from 5.2% to 4.8% YoY from 0.8% to –0.7% MoM.
The US currency is weakening today to the euro and the pound and has ambiguous dynamics with the yen. Published yesterday, the minutes of the last Fed meeting showed that the regulator decided to bring the interest rate to zero and keep it at that level until the US economy overcomes the consequences of the coronavirus epidemic.
At 14:30 (GMT+2), in Canada data on the unemployment rate for March will be published. This indicator fixes the percentage of the number of unemployed over 18 years of age to the total working-age population. Only registered unemployed are counted. The indicator is expected to grow from 5.6% to 7.2%, which may put pressure on the Canadian dollar.
At 14:30 (GMT+2), in Canada data on the level of employment for March will be published. This indicator captures changes in the number of employed citizens in the country. It is expected that the number of employed citizens will be reduced by 350.0K. The implementation of the forecast may put pressure on the Canadian dollar.
At 14:30 (GMT+2), weekly data on the number of initial unemployment claims in the United States will be released. The indicator reflects the number of people who applied for unemployment benefits for the first time in the past week. These data are collected by the Ministry of Labor and published in a weekly report. The number of applications for benefits is used to measure the state of the labor market since an increase means fewer people are hiring. The indicator is expected to decline from 6.648 million to 5.250 million.