The second quarter begins, and it will be accompanied by a mass of significant events. The first trading week is already will be rich in information and market participants will have to pay much attention for follow the latest news.
ISM Manufacturing PMI
Today there will be published data on business activity in the manufacturing sector for March. A slight index decrease is expected, which may slow down the further growth of the US dollar.
Meeting of the Reserve Bank of Australia
Changes in monetary policy are not expected by the Australian regulator, therefore, the opinion of officials on the state of the Australian economy will be more important. Prices for ore decreased, as did business activity in the country, so the RBA’s position may be less optimistic.
U.K. Manufacturing Production
The process of leaving the country from the EU has a constant pressure on the sterling, so Albion, as anyone now needs any positive statistics. Even the save volumes production at the previous levels will positively affect the pound, but the greatest tests are yet to come.
The US Labor Market
As usual on the first Friday of the month, the attention of traders will be guided to the US labor market. According to forecasts, the growth of employment could slow down past month, which will put pressure on the US currency. The situation can be saved by average hourly earnings, if the indicator comes out in the green zone, the US dollar can strengthen its positions in the end of the week.
Canada Labor Market
Data on employment in Canada usually alternate, so after a successful February, indicators may show more modest results, which will lead to a weakening of the Canadian dollar.
In addition, it is worth paying attention to the minutes of the Fed and the ECB, which will show the mood of regulators. Statements from officials will also contribute to the movement in the market, depending on rhetoric and forecasts.