Weekly Economic Calendar

March 31 – April 5, 2024 Economic report and policy meetings

March 31

Indonesia:  Inflation Rate (YoY) - March

Japan:  Tankan Large All Industry Capital Expenditures – 1^st Qtr., Tankan Large Manufacturers Index – 1^st Qtr., Tankan Large Manufacturing Outlook – 1^st Qtr., Tankan Large Non-Manufacturing Index – 1^st Qtr.      

Russia:  S&P Global Manufacturing Purchasing Managers Index (PMI) - March                    

South Korea:  Exports (YoY) – March, S&P Global Manufacturing Purchasing Managers Index (PMI) - March

April 1

Australia:  Judo Bank Manufacturing Purchasing Managers Index (PMI) – March, Reserve Bank of Australia Meeting Minutes

Brazil:  Brazilian Central Bank (BCB) Focus Market Readout    

Canada:  S&P Global Manufacturing Purchasing Managers Index (PMI) - March       

South Korea:  Inflation Rate (YoY) – March

Switzerland:  Retail Sales (YoY) - February

U.K.:  Nationwide Housing Prices (YoY) - March

U.S.:  S&P Global Manufacturing Purchasing Managers Index (PMI) Final – March, Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) – March, Construction Spending (MoM) – February, Federal Reserve’s Cook Speech

Easter Monday Celebrated in many countries, markets closed. The Institute for Supply Management releases both its Manufacturing and Services Purchasing Managers’ Indexes for March. Consensus estimate for the Manufacturing PMI, which is released on Monday, is for a 48.5 reading, nearly one point more than in February. The Services PMI, which is released on Wednesday, is expected to come in at 52.5, roughly even with the previous data. The services sector has outpaced the manufacturing sector for about three years since the economy fully reopened after the pandemic.

April 2

Australia:  Ai Group Industry Index - March   

China:  Caixin Composite Purchasing Managers Index (PMI) – March, Caixin Services Purchasing Managers Index (PMI) – March

Euro-Zone:  HCOB Manufacturing Purchasing Managers Index (PMI) – Final – March, Spain: HCOB Manufacturing Purchasing Managers Index (PMI) – March, Italy: HCOB Manufacturing Purchasing Managers Index (PMI) – March, France: HCOB Manufacturing Purchasing Managers Index (PMI) Final – March, Germany: HCOB Manufacturing Purchasing Managers Index (PMI) Final – March, Germany: Inflation Rate (YoY) Preliminary – March, Inflation Rate (MoM) Preliminary – March

Mexico:  Business Confidence – March

Netherlands:  Inflation Rate (YoY) Preliminary - March

Switzerland:  procure.ch Manufacturing Purchasing Managers Index (PMI) – March

U.K.:  Mortgage Approvals – February, Mortgage Lending – February, S&P Global Manufacturing Purchasing Managers Index (PMI) - March

U.S.:  Factory Orders (MoM) – February, Federal Reserve’s Bowman Speech, Federal Reserve’s Williams Speech, Federal Reserve’s Mester Speech, Federal Reserve’s Daly Speech

The Bureau of Labor Statistics release the Job Openings and Labor Turnover Survey. Expectations are for 8.7 million job openings on the last business day in February, 163,000 fewer than in January. There are currently 1.4 job openings for every unemployed person, down from a peak of two in March of 2022.

April 3

Australia:  Judo Bank Services Purchasing Managers Index (PMI) – March, Building Permits (MoM) Preliminary - February

Brazil:  Industrial Production (MoM) – February, S&P Global Services Purchasing Managers Index (PMI) – March

Euro-Zone:  Core Inflation Rate (YoY) Flash – March, Inflation Rate (MoM) Flash – March, Inflation Rate (YoY) Flash – March, Unemployment Rate – February, Italy: Unemployment Rate – February, Germany: 10-Year Bund Auction

Japan:  Foreign Bond Investment – March 30

New Zealand:  Building Permits (MoM) – February

Russia:  Unemployment Rate – February

Switzerland:  Inflation Rate (YoY) - March   

U.S.:  Institute of Supply Management (ISM) Services Purchasing Managers Index (PMI) – March, ADP Employment Change – March, S&P Global Composite Purchasing Managers Index (PMI) – March, S&P Global Services PMI Final – March, MBA Survey Indexes - Mortgage Market Index, Mortgage Applications (March 29), Mortgage Market Change, Mortgage Refinance Index, Refinancing Change, MBA Mortgage Approvals (March 29), Department of Energy (DOE) U.S. Crude Oil Inventories (March 29), DOE Cushing OK Crude Inventory (March 29), DOE U.S. Gasoline Inventories (March 29), DOE U.S. Distillate Inventory (March 29), DOE U.S. Refinery Utilization (March 29), DOE Crude Oil Implied Demand, Federal Reserve’s Goolsbee Speech, Federal Reserve Chair Powell Speech, Federal Reserve’s Kugler Speech

April 4

Australia:  Balance of Trade – February

Brazil:  Balance of Trade - March

Canada:  Balance of Trade - February

Euro-Zone:  European Central Bank (ECB) Monetary Policy Meeting Accounts, HCOB Services Purchasing Managers Index (PMI) Final – March, Spain: Unemployment Change – March, HCOB Services Purchasing Managers Index (PMI) – March, Italy: HCOB Services Purchasing Managers Index (PMI) – March, HCOB Services Purchasing Managers Index (PMI) Final – March, France: Industrial Production (MoM) – February

India:  Reserve Bank of India (RBI) Interest Rate Decision

Japan:  Household Spending (YoY) – February, Coincident Index Preliminary – February, Leading Economic Index Preliminary – February

Mexico:  Consumer Confidence – March, Monetary Policy Meeting Minutes

Philippines:  Inflation Rate (YoY) - March

Poland:  Interest Rate Decision - April

U.K.:  S&P Global Services Purchasing Managers Index (PMI) Final - March

U.S.:  Balance of Trade – February, Exports – February, Imports – February, Continuing Jobless Claims – March 23, Initial Jobless Claims – March 30, Federal Reserve’s Barkin Speech, Federal Reserve’s Goolsbee Speech, Federal Reserve’s Mester Speech, Federal Reserve’s Musalem Speech, Federal Reserve’s Kugler Speech

April 5

Canada:  Employment Change – March, Unemployment Rate – March, Average Hourly Wages (YoY) – March, Full Time Employment Change – March, Ivey Purchasing Managers Index (PMI) s.a. – March

Euro-Zone:  Retail Sales (YoY) – February

Russia:  GDP Growth Rate (YoY) – 4^th Qtr.

Switzerland:  Consumer Confidence – March

U.K.:  S&P Global Construction Purchasing Managers Index (PMI) - March

U.S.:  Non-Farm Payrolls – March, Unemployment Rate – March, Average Hourly Earnings (MoM) – March, Average Hourly Earnings (YoY), Average Weekly Hours – March, Nonfarm Payrolls Private – March, Participation Rate – March, Consumer Credit Change – February, Baker Hughes U.S. Rig Count – April 5, Federal Reserve’s Collins Speech, Federal Reserve’s Barkin Speech, Federal Reserve’s Bowman Speech

The BLS releases the jobs report for March. Economists forecast a 180,000 increase in nonfarm payrolls, following a 275,000 gain in February. The unemployment rate has been below 4% for more than two consecutive years, the first time that has happened since the late 1960’s.

Bold denotes likely market-moving newsflash which traders consider significant to foreign exchange levels or otherwise important/noteworthy information, i.e., market holiday’s which will affect standard settlement dates.