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- The focus next week over G-20 meeting and Non-Farm Emploment Change – US
The focus next week over G-20 meeting and Non-Farm Emploment Change - US
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Loading...The focus of the analysts will be at G-20 Meeting in China, regarding the Global economy. Even that there is high optimism about the meeting during the weekend, it is highly unlikely that a coordinated desicion will be taken. The situation remains volitile and uncertain.
The Yen was stronger against all currencies, but now its starting to weaken, this will help the indices to rise. If there are no desicion made, we can see a lower stock markets again during next week. The indices are at serious levels of resistance and the smallest bad news or bad sentiment can reverse their gains and have negative impact next week.
US was weaker as stocks rise, but this can change if better than expected data from the US is seen as the FED is monitoring closely and the desicions are to be made on data dependant.
The Oil continues to be as volitile as before, the news from OPEC countries is uncertain, in regards to any notable agreement between them on oil production cuts. The good news for Oil so far is that there are fewer Oil rigs in explotation working in the US and that data shows that global demand has not fallen. The end of the winter season is close so the demand can weaken slightly going forward. This will drive the price of oil lower and stocks as well.
The calendar for next week is a follows:
Saturday - Day 2 - G-20 meeting
Monday - German Retail Sales, Europe's CPI and Chicago PMI
Tuesday - China Manufacturing PMI, Cash rate of Australia, German Unemployment change, Europe Unemployment Change, UK manufacturing PMI and ISM Manufacturing PMI
Wednesday - GDP of Australia, UK Construction PMI, ADP Non-farm Employment change
Thursday - Trade Balance of Australia, UK services PMI, Umemployment claims US
Friday - Australia Retail sales, Canada Trade balance, Average Hourly Earnings, Non-Farm Employment Change US, Trade balance US.
After the G-20 meeting and the Non-farm Employment change fromt the US, we can see better economic picture from the US and how the decisions made by the G-20 will be interpreted by the markets.
Jr. Trader - S. Fuchedzhiev
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