We’re again ready to give you an overview of the market from last week. And we didn’t forget about the upcoming important events as well.

March 22

In The Beginning of Last Week Fed Chair Powell Gave a Speech

Due to participate in a virtual panel discussion about central bank innovation at an online event hosted by the Bank for International Settlements; As head of the central bank, which controls short term interest rates, he has more influence over the nation’s currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy; 

Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues;”

March 23

BOE Gov Bailey’s Speech

Due to participate in a panel discussion titled “Unlocking Investment for Net Zero” at an online event hosted by The Economist;

Andrew Bailey; BOE (Bank of England) Governor. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues;

“As head of the central bank, which controls short term interest rates, he has more influence over the nation’s currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy;”

March 24

German Flash Manufacturing PMI

Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry;

Survey of about 800 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, below indicates contraction. There are 2 versions of this report released about a week apart – Flash and Final. The Flash release, which the source first reported in Mar 2008, is the earliest and thus tends to have the most impact;

“It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy;”

March 25

SNB Press Conference

The conference is held when rates are announced in June and December. It’s about an hour long and has 2 parts – first the prepared statements are read, then the conference is open to press questions. The questions often lead to unscripted answers that create market volatility;

“It’s among the primary tools the SNB Governing Board uses to communicate with investors about monetary policy and the economic outlook;”

March 26

Euro Summit

Heads of state from the European Union countries  discussed how to strengthen the international role of the euro, in Brussels;

“It is one of the most important events held for European currency and it impacts the overall currency a lot.”

Upcoming Events:

Match 30: 

• CB Consumer Confidence

March 31: 

• Final ANZ Business Confidence
• Manufacturing PMI
• Final GDP q/q
• ADP Non-Farm Employment Change
• GDP m/m
• Pending Home Sales m/m
• Crude Oil Inventories

April 01:

• Retail Sales m/m
• OPEC-JMMC Meetings
• ISM Manufacturing PMI

April 02:

• Average Hourly Earnings m/m
• Non-Farm Employment Change
• Unemployment Rate