Monday 27-03-2017 Outlook

Welcome to the easyMarkets weekly outlook starting this Monday 27 March. We’ll be looking at the week’s key economic events on the financial calendar covering Monday to Thursday. Be sure to catch up with our Friday morning report that looks back at how the events played out and with a look at Friday’s events. This is a fairly quiet week on the economic calendar until Wednesday when the UK triggers Article 50 which may provide plenty of interesting market action.

Event: US Consumer Confidence

Date: Tuesday 28 March 2017 at 14:00 GMT

Markets affected: EUR/USD, GBP/USD

Trending hashtags: #usd, #consumers

The US Conference Board will be releasing consumer’s confidence in the economy for March. Last month’s reading was at 114.8 and analysts are expecting 113.8 for this month. Consumer confidence is an important indicator showing how people feel the economy is growing. With positive job’s data and a slight increase in wages we may see a good result on Tuesday, and confident buyers means more money flowing through the economy. It will also be the first reading after the last interest rate hike which would normally encourage more savings so it will be interesting to see if US consumers factor that in.

Event: Bank of Canada Governor Speaks

Date: Tuesday 28 March 2017 at 14:10 GMT

Markets affected: CAD/USD

Trending hashtags: #cad, #boc

On Tuesday, Stephen Poloz, the Governor of the Bank of Canada, will deliver a speech at Durham College, on the topic of Canada’s economic history. It’s during speeches like these that the markets listen for hawkish or dovish comments on the Governor’s perception on the nation’s economy. Poloz has been mostly dovish in recent speeches as trade relations with the US are still uncertain. Raising commodity prices have been good for the nation, though recent dips in oil price may be giving those eyeing to buy the loonie second thoughts.

Event: UK Triggers Article 50 for Brexit

Date: Wednesday 29 March 2017, time n/a

Markets affected: EUR/ GBP, GBP/USD, GBP /AUD, FTSE

Trending hashtags: #brexit, #article50, #gbp

The big event on this week’s calendar is the UK’s triggering of Article 50 in Lisbon. This will start the 2-year process for them to leave Europe. Negotiations between the UK and EU will now begin on Brexit and will set the tone for future meetings as they work out their future relationship.

Event: EU Consumer Confidence

Date: Thursday 30 March 2017 at 09:00 GMT

Markets affected: EUR/JPY, EUR/ GBP, EUR/USD, DAX, CAC

Trending hashtags: #eur, #consumers

Consumer confidence came in better than expected for the Euro Area as it increased to -5 in March from -6.2 in February. Markets were forecasting -5.7, preliminary estimates showed. In the European Union, consumer sentiment rose 1 point to -4.2. Thursday’s reading will be interesting in a post-Brexit Europe.

Event: US Annualised GDP (Q4)

Date: Thursday 30 March 2017 at 12:30GMT

Markets affected: EUR/USD, GBP/USD, SPI, NDQ, DOW
Trending hashtags: #usd, #gdp

Gross Domestic Product for the last quarter of 2016 is due to be released by the US Bureau of Economic Analysis. Where Q3 saw the economy grow by 3.5%, the previous (and 2nd) reading for Q4 came in at just 1.9%. For this fourth and final reading, economists are expecting a slight improvement with a 2% growth.

The post Monday 27-03-2017 Outlook appeared first on Forex.Info.

Source:: Monday 27-03-2017 Outlook

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