Weekly Economic Calendar

April 7 – April 12, 2024 Economic report and policy meetings

April 7

Australia:  Home Loans (MoM) – February, Investment Lending for Homes – February

Euro-Zone:  Germany: Balance of Trade – February, Exports - MoM

Japan:  Economy Watchers Survey: Current – March, Economy Watchers Survey: Outlook – March                

Switzerland:  Unemployment Rate - March

April 8

Australia:  WESTPAC Consumer Confidence Index - April

Brazil:  Brazilian Central Bank (BCB) Focus Market Readout    

Euro-Zone:  France: Balance of Trade - February

Israel:  Interest Rate Decision

Japan:  Consumer Confidence - March

Philippines:  Interest Rate Decision        

U.K.:  British Retail Consortium Retail Sales Monitor (YoY) - March

U.S.:  Consumer Inflation Expectations - March

April 9

Japan:  Bank Lending (YoY) – March, Producer Price Index (PPI) (MoM) – March, PPI (YoY) - March

Mexico:  Inflation Rate (YoY) – March, Core Inflation Rate (MoM) - March

Philippines:  Unemployment Rate – February

New Zealand:  Reserve Bank of New Zealand (RNBZ) Interest Rate Decision

Switzerland:  Swiss National Bank (SNB) Schlegel Speech

U.S.:  RCM/TIPP Economic Optimism Index – April, Johnson Redbook (YoY) - April 6

April 10

Australia:  Consumer Inflation Expectations – April

Brazil:  Inflation Rate (MoM) – March, Inflation Rate (YoY) – May

Canada:  Building Permits (MoM) – February, Bank of Canada (BoC) Interest Rate Decision, BoC Monetary Policy Report, BoC Press Conference

China:  Inflation Rate (YoY) – March, Inflation Rate (MoM) – March, Producer Price Index (PPI) (YoY) - March

Euro-Zone:  Italy: Retail Sales (MoM) – February  

Japan:  Foreign Bond Investment – April 6   

Russia:  Inflation Rate (MoM) – March, Inflation Rate (YoY) - March

Thailand:  Interest Rate Decision   

U.S.:  Federal Open Market Committee (FOMC) Minutes, Monthly Budget Statement – March, Core Inflation Rate (YoY) – March, Inflation Rate (YoY) – March, Core Inflation Rate (MoM) – March, Consumer Price Index (CPI) – March, CPI s.a. – March, Inflation Rate (MoM) – March, Wholesale Inventories (MoM) – February, MBA Survey Indexes - Mortgage Market Index, Mortgage Applications (April 5), Mortgage Market Change, Mortgage Refinance Index, Refinancing Change, MBA Mortgage Approvals (April 5), Department of Energy (DOE) U.S. Crude Oil Inventories (April 5), DOE Cushing OK Crude Inventory (April 5), DOE U.S. Gasoline Inventories (April 5), DOE U.S. Distillate Inventory (April 5), DOE U.S. Refinery Utilization (April 5), DOE Crude Oil Implied Demand

The Bureau of Labor Statistics releases the consumer price index for March. Consensus estimate is for a 3.4% year-over-year increase, two-tenths of a percentage point more than in February. The core CPI, which excludes volatile food and energy prices, is expected to rise 3.7%, a tenth of percentage point less than previously. CPI data have come in hotter than expected so far this year and, along with continued strength in the labor market, have caused bond yields to hit new highs for the year. The Federal Open Market Committee releases the minutes from its mid-March monetary-policy meeting. At the meeting, the FOMC kept the federal-funds rate unchanged at 5.25% to 5.50%.

April 11

Brazil:  Retail Sales (MoM) – February

China:  New Yuan Loans – March, Balance of Trade - March

Euro-Zone:  European Central Bank (ECB) Interest Rate Decision, Deposit Facility Rate, Marginal Lending Rate, ECB Press Conference, Italy: Industrial Production (MoM) – February, Industrial Production (YoY) – February, Germany: Inflation Rate (YoY) Final – March, Inflation Rate (MoM) Final – March, France: Inflation Rate (MoM) Final – March, Inflation Rate (YoY) Final - March    

Japan:  Industrial Production (YoY) Final - February

Mexico:  Industrial Production (YoY) - February

New Zealand:  Business NZ Purchasing Managers Index (PMI) – March, Electronic Retail Card Spending (MoM) – March, Electronic Retail Card Spending (YoY) – March

Russia:  Balance of Trade – February

Singapore:  GDP Growth Rate (QoQ) Advance – 1^st Qtr., GDP Growth Rate (YoY) Advance – 1^st Qtr.

South Korea:  Unemployment Rate – March, Interest Rate Decision

U.K.:  GDP 3-Month Average – February, GDP (YoY) – February, Balance of Trade – February, Construction Output (YoY) – February, GDP (MoM) – February, Goods Trade Balance – February, Goods Trade Balance Non-EU – February, Industrial Production (YoY) – February, Manufacturing Production (YoY) - February

U.S.:  Producer Price Index (PPI) (MoM) – March, Continuing Jobless Claims – March 30, Initial Jobless Claims – April 6

The European Central Bank announces its monetary-policy decision. The EDB is widely expected to keep its key short-term interest rate unchanged at 4%. The ECB’s next policy move will probably be a rate cut, with traders eyeing the June meeting.

April 12

India:  Industrial Production (YoY) – February, Inflation Rate (YoY) – March, Manufacturing Production (YoY) - February

U.K.:  NIESR Monthly GDP Tracker - March

U.S.:  University of Michigan Consumer Sentiment Preliminary – April, Baker Hughes U.S. Rig Count – April 12

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.