News

PA Market Report: Overview (April 11–April 15) & Upcoming Events April’22

priceactionadmin 3 years ago

April 11, 2022.

French Elections 2022 (All)

Both the French leader Emmanuel Macron and challenger Marine Le Pen qualified for what promises to be a very tightly fought presidential election runoff on April 24, pitting a pro-European economic liberal against a far-right nationalist.

China CPI and PPI hurt the AUD (All)

The AUD/USD pares early gains following a higher China CPI print of 1.5%.• The DXY is aiming for a 100.00 re-capture, backed by stronger responsive buying.• China’s PPI has landed at 8.3%, higher than the estimate of 7.9% but lower than the prior figure of 8.8%.

April 12, 2022

Core CPI m/m (USA)

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.2 percent in March on a seasonally adjusted basis, following a 0.8 percent increase in February, according to the U.S. Bureau of Labor Statistics. Before seasonal adjustment, the all-items index increased by 8.5 percent in the previous year.

Japan’s Suzuki Speaks (Australia)

“FX stability is important, but sharp volatility is undesirable. The government will keep an eye on Japan’s current account balance, as a change in its trend could happen. Japan’s current account deficit is due more to rising raw material prices than a weak yen. “

Vladimir Putin says peace talks with Ukraine (Russia)

Vladimir Putin said peace talks with Ukraine were at a “dead end” as the Russian president claimed that Kyiv had deviated from agreements struck in Istanbul.

April 13, 2022

BOC Press Conference/ Overnight Rate (Canada)

The Bank of Canada has hiked its policy rate by 50bp and announced the start of quantitative tightening. Having a good outlook for growth is making people more worried about inflation getting stuck, because there are going to be a lot more big rate rises coming.

The BOC Monetary Policy Report (Canada)

The Bank of Canada today increased its target for the overnight rate to 1%, with the bank rate at 1¼% and the deposit rate at 1%. The bank is also ending reinvestment and will begin quantitative tightening (QT) on April 25. Maturing government of Canada bonds on the bank’s balance sheet will no longer be replaced. As a result, the size of the balance sheet will decline over time.

PPI m/m (USA)

The seasonally adjusted Producer Price Index for final demand increased 1.4 percent in March, according to the US Bureau of Labour Statistics. This rise followed advances of 0.9 percent in February and 1.2 percent in the previous month. (See table A.) Unadjusted, final demand prices increased 11.2 percent in the year ended March, the largest increase since 12-month data were first calculated in November 2010.

CPI y/y (London)

The Consumer Price Index, including owner-occupier housing costs (CPIH), rose by 6.2% in the 12 months to March 2022, up from 5.5% in February.

RBNZ Rate Statement (New Zealand)

The Monetary Policy Committee raised the Official Cash Rate (OCR) to 1.50 percent today. The Committee agreed that it is appropriate to continue to tighten monetary conditions at a pace to best maintain price stability and support maximum sustainable employment.

April 14, 2022

Retail Sales m/m (USA)

US retail sales rose at a pace of 0.5% MoM in March, a little less than the expected pace of 0.6% and a slowdown versus the previous month’s 0.8%, data released by the US Census Bureau on Thursday revealed. The MoM growth in Core Retail Sales was a little stronger than expected in March, at 1.1% versus the forecasted 1.0% growth rate, an acceleration from the 0.6% pace of growth one month earlier.

ECB Press Conference (Europe)

The European Central Bank on Thursday kept its monetary policy unchanged but confirmed it would end its bond buying in the third quarter. The Governing Council faces a dilemma, with inflation hitting a record high of 7.5% in March, while the economic growth outlook weakens due to the war in Ukraine.

Monetary policy decisions (Europe)

Russia’s aggression in Ukraine is causing enormous suffering. It is also affecting the economy, in Europe and beyond. The conflict and the associated uncertainty are weighing heavily on the confidence of businesses and consumers. Trade disruptions are leading to new shortages of materials and inputs. Surging energy and commodity prices are reducing demand and holding back production.

Employment Change (Australia)

Key statistics from the seasonally adjusted estimates for March 2022:

The unemployment rate remained at 4.0%.
The participation rate remained at 66.4%.
Employment increased to 13,389,900.
The employment-to-population ratio remained at 63.8%.
The underemployment rate decreased to 6.3%.
The monthly hours worked decreased by 10 million hours.

April 15, 2022

Finance Minister Shunichi Suzuki Speaks (Japan)

A rapidly weakening yen could cause problems for Japan’s economy, Finance Minister Shunichi Suzuki said Friday, as speculation mounts that Tokyo will step in to curb the currency’s slide for the first time in more than two decades. When the surging cost of materials “can’t be sufficiently passed on through higher prices, or wages don’t grow enough to make up for them, a weak yen can be considered a bad thing,” Suzuki said.