A Week in the Market (03/22 - 03/28): Central Banks, Statistics, Monetary Policies

A Week in the Market (03/22 - 03/28): Central Banks, Statistics, Monetary Policies

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A new week of March will bring us several decisions on interest rates, a flow of statistics, and comments of monetary politicians. All this will give capital markets new catalysts.

Summit: many announcements to be made

At the beginning of the week, the Summit of the Bank of International Settlements will open online. The heads of the US Fed, the ECB, and the BoE are planning to deliver speeches right on Monday. If they single out some issues that can postpone the recovery of global economies, traded currencies will be depressed.

USD: many words, even more reactions

A new week of March will present us with speeches of a whole range of monetary politicians: from Jerome Powell, the chairman of the Fed, to presidents of the Fed from various regions. Most likely, all the comments will somehow touch upon the revised economic forecasts, which can support the USD as they are quite positive.

EUR: the currency might remain depressed

The erratic course of the vaccination campaign in the EU makes the EUR nervous; this week, this factor is likely to remain in force. Pay attention to the prelim PMI in services in the EU on the whole and in certain member countries in March, as well as to the news of the EU summit on the pandemic and industrial policy.

Central banks: sessions must go on

This week, sessions of Central banks are planned in China, Morocco, Nigeria, Hungary, Thailand, Czech, Iceland, Mexico, South Africa, Sweden, and the Philippines. In most cases, the interest rate and monetary policy, on the whole, will not change; for risky assets, evaluations of the economic situation and forecasts will be important. The more confident regulators will speak, the better for risky assets.

GBP: the pound keeps getting weaker

The GBP fans are getting more and more nervous as long as Great Britain proves incapable of coping with the pandemic and lockdown quickly. As for statistics, this week take a look at the retail sales information in February and the employment market reports for January and February. Also, the minutes of the last session of the BoE are worth checking.




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