Trading News to Watch Next Week (15-19 April 2019)

Important economic news for April 15-19

Source: DF Markets

Our video features some, but not all, of the leading market events for next week. Explore the full list of 15-19 April events in our detailed report.

Monday, April 15

 

CAD – BOC Business Outlook Survey – 10:30 am (High Impact)

The survey includes about 100 businesses and asks respondents to rate the relative level of general business conditions, such as sales growth, investment in machinery, employment, inflation expectations, and credit conditions.

This report is highly respected given its source and timing in relation to interest rate decisions. It can also have predictive qualities regarding future economic conditions because the surveyed firms are selected in accordance with their composition of the nation’s GDP.

AUD – Monetary Policy Meeting Minutes – 9:30 pm (High Impact)

This is a detailed record of the RBA Reserve Bank Board’s most recent meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates.

Tuesday, April 16

 

GBP – Average Earnings Index 3m/y – 4:30 аm (High Impact)

Bank of England

Source: DF Markets

Measures the change in the price businesses and the government pay for labour, including bonuses.

The data shown represents the 3-month moving average compared to the same period a year earlier. A price change of 3.4% for the previous month came slightly ahead of a 3.2% forecast.

GBP – Unemployment Rate – 4:30 аm (Medium Impact)

Tracks the percentage of total workforce that is unemployed and actively seeking employment during the past 3 months. Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.

A workforce shift of 3.9% for the previous month slightly beat a 4.0% forecast.

CAD – Manufacturing Sales m/m – 8:30 аm (Medium Impact)

Measures the change in the total value of sales made by manufacturers. The data from the report acts as a leading indicator of economic health—manufacturers are quickly affected by market conditions, and changes in their sales can be an early signal of future activity such as spending, hiring, and investment.

A value of 1.0% for the previous month outperformed analysts’ forecasts of 0.4%.

NZD – CPI q/q – 6:45 pm (High Impact)

Shows the change in the price of goods and services purchased by consumers. The average price of various goods and services is sampled and then compared to the previous sampling.

A price change of 0.1% for the previous quarter squeezed ahead of a 0.0% forecast.

CNY – GDP q/y – 10:00 pm (High Impact)

Tracks changes in the inflation-adjusted value of all goods and services produced by the economy.

The data shown represents the quarterly value compared to the same quarter a year earlier. A price change of 6.4% for the previous quarter remained consistent with the forecasts.

CNY – Industrial Production y/y – 10:00 pm (Medium Impact)

Tracks the change in the total inflation-adjusted value of the output produced by manufacturers, mines, and utilities. Chinese data can have a broad impact on the currency markets due to China’s influence on the global economy and investor sentiment.

A value change of 5.3% for the previous month underperformed vs. a 5.5% forecast.

Wednesday, April 17

 

GBP – CPI y/y – 4:30 аm (High Impact)

Tracks the change in the price of goods and services purchased by consumers. This is considered the UK’s most important inflation data because it’s used as the central bank’s inflation target.

A price change of 1.9% for the previous month slightly came ahead of a 1.8% forecast.

All – OPEC Meetings – All Day (High Impact)

OPEC meetings

Source: DF Markets

OPEC meetings are usually held in Vienna and are attended by representatives from 15 oil-rich nations. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce. OPEC nations represent around 40% of the world’s oil supply and are unified in their oil production levels.

CAD – CPI m/m – 8:30 am (High Impact)

Measures the change in the price of goods and services purchased by consumers. This is the most important inflation-related release due to its earliness and broad scope. The metric is calculated by sampling and comparing the average price of various goods to the previous sampling.

CAD – Trade Balance – 8:30 am (High Impact)

Shows the difference in value between imported and exported goods during the reported month. Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation’s exports.

A positive number indicates that more goods were exported than imported. A value difference of -4.2B for the previous month greatly underperformed vs. a -3.5B forecast.

AUD – Employment Change – 9:30 pm (High Impact)

Tracks the change in the number of employed people during the previous month. This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts.

An employment change of 4.6K for the previous month disappointed analysts who expected a shift of 14.8K.

AUD – Unemployment Rate – 9:30 pm (High Impact)

Tracks the percentage of the total workforce that is unemployed and actively seeking employment during the previous month. Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.

An unemployment rate of 4.9% for the previous month went slightly down compared to a forecast of 5.0%.

Thursday, April 18

 

EUR – French Flash Services PMI – 03:15 am (High Impact)

Follows the level of a diffusion index based on survey of about 300 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

An index value of 48.7 for the previous month failed to reach a 50.6 forecast.

EUR – German Flash Manufacturing PMI – 03:30 am (High Impact)

Measures the level of a diffusion index based on a survey of about 500 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

Above 50.0 indicates industry expansion, while below that indicates contraction. An index value of 44.7 for the previous month underperformed vs. a 48.0 forecast.

EUR – German Flash Services PMI – 03:30 am (High Impact)

Tracks the level of a diffusion index based on a survey of about 500 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

Above 50.0 indicates industry expansion, while below that indicates contraction. An index value of 54.9 for the previous month barely raced past a 54.8 forecast.

GBP – Retail Sales m/m – 04:30 am (High Impact)

Shows the change in the total value of inflation-adjusted sales at the retail level. It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

A value of 0.4% for the previous month crushed a -0.4% forecast.

GBP – BOE Credit Conditions Survey – 04:30 am (Medium Impact)

This report includes detailed data on secured and unsecured lending to households, small businesses, non-financial corporations, and non-bank financial firms. The data is based on a survey of bank and non-bank lenders which asks respondents to rate the relative level of credit conditions in the past 3 months and the next 3 months.

CAD – Core Retail Sales m/m – 08:30 am (High Impact)

Pictured: Canadian dollars with superimposed Canadian flag

Source: DF Markets

Denotes the change in the total value of sales at the retail level, excluding automobiles.

A value change of 0.1% for the previous month fell slightly behind a 0.2% forecast.

USD – Core Retail Sales m/m – 08:30 am (High Impact)

Shows the change in the total value of sales at the retail level, excluding automobiles.

A value change of -0.4% for the previous month underperformed vs. a 0.4% forecast.

Friday, April 19

 

USD – Building Permits – 8:30 am (Medium Impact)

Shows the annualised number of new residential building permits issued during the previous month. It’s an excellent gauge of future construction activity because obtaining a permit is among the first steps in constructing a new building.

A value of 1.30M for the previous month slightly dipped below analysts’ forecasts of 1.32M.

Missed our previous report? Go back and catch up on last week’s top news. You can also visit our economic calendar to study past and upcoming events in more detail.

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