Data on the unemployment rate in Switzerland for March is due at 07:45 (GMT+2). The Unemployment Rate measures the percentage of the total workforce that is unemployed and actively seeking employment during the previous month. Only registered unemployed are counted. It is expected that the unemployment rate with seasonal fluctuations will increase from 2.3% to 2.8%, and without them, from 2.5% to 2.8%. The realization of the forecast can put pressure on the franc.
Forex forecasts and market outlooks
High-quality Forex forecasts and financial market reviews from professional analysts are added daily!
Clients of the Tifia broker get exclusive access to high-quality materials from independent analytical agency Claws&Horns in their Client Cabinet: technical and fundamental market analysis, Forex economic event calendar, currency, stock, index forecasts, trading indicators signals and much more.
A weekly report on the volume of oil reserves in the USA from API is due at 22:30 (GMT+2). The figure shows how much oil and refined products are available in storage. The reduction in reserves traditionally leads to an increase in oil quotes, and an increase in the indicator leads to a decrease in prices for "black gold". Last week, US oil inventories rose by 10.485M barrels. If this trend persists, it may put pressure on oil prices.
At 16:00 (GMT+2) Canadian March data on the index of business activity from Ivey will be published. The indicator is compiled from the enterprises responses about their purchasing activities and supply situations. At the same time, the attitude of purchasing managers to the current economic situation and prospects for its further development is evaluated. It is expected that the index may decline from 54.1 to 48.0 points and end up in a stagnation zone. The implementation of the forecast could put pressure on CAD.
At 16:00 (GMT+2) in the United States data on JOLTs Job Openings for February will be published. The indicator captures the number of new open vacancies in the non-agricultural sector and is an important indicator of the US labor market. The figure is expected to fall from 6.963M to 6.476M jobs. The implementation of the forecast could put pressure on USD.
At 08:00 (GMT+2), the data on German Industrial Production for February will be published. Industrial Production gauges the change in the total inflation-adjusted value of output manufacturers, quarries, and utilities produced. The indicator takes into account the manufacturing and mining industries, as well as the power industry. It is expected that production in February may reduce by 0.8%, after an increase by 3.0% a month earlier. The implementation of the forecast can put pressure on EUR.
At 06:30 (GMT+2) the Reserve Bank of Australia will announce the decision on the interest rate. It is expected that the regulator will leave the rate at 0.25%, since earlier in March it had already reduced it urgently. Most likely, officials will observe the impact of their March decision on the economy and confirm the possibility of introducing new mitigation measures if necessary.
At 03:30 (GMT+2), February data on Trade Balance will be published in Australia. This indicator captures the difference between the amount of payments for exported and imported goods. Its increase is a positive factor for AUD. It is expected that trade balance will remain surplus but may decrease from AUD 5.210B to 3.800B. The implementation of the forecast can cause pressure on AUD.
At 10:30 (GMT+2), UK data on the index of business activity in the construction sector for March will be released. The indicator reflects the state of business sentiment in the construction market and is calculated based on a survey of managers of major construction companies. The index is expected to decline from 52.6 to 46.0 points. Realization of the forecast may put pressure on the pound.
At 08:00 (GMT+2), data on the volume of production orders for February will be published in Germany. This indicator captures the number of orders for durable and short-term goods. Orders are expected to decline by 1.9% after rising 5.5% a month earlier. The implementation of the forecast may put pressure on the European currency.
At 14:30 (GMT+2), data on Nonfarm Payrolls in the USA for March will be published. It is expected that the figure may be reduced by 100K. However, data may turn out to be better than expected, since the leading indicator from ADP in March showed a less serious reduction in jobs than expected by the market.