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- What can we expect during the next week 01.05 of May 2017
What can we expect during the next week 01.05 of May 2017
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Loading...During the past week the stocks market reversed it's losses and US indexes are traded near their all time hights. The presenting of D.Trump's plan for tax reform did not had big influence on the indexes. It must be approved be the Congress. The main engine of the market this week was the fiscal report of the companies for the 1st quarter of 2017.
Safe haven instruments like JPY and GOLD took a hit this week, although the geopolitical tension is still there. Chinese minister of foreign affairs said in a statement that the situation with North Korea may escalate easily. In this case investors are most likely to turn their eyes toward hedging instrument like yen,gold and swiss frank.
Oil is under the key level of 50 dollars for barrel, but it finds support around it's current levels. The data for crude oil inventories earlier this week were below expectations and positive for the commodity.
In his speech Mario Draghi said that is necessary , QE will be extended.
The important data that we must watch during next week
Monday
10:15 Switzerland - Retail sales
17:00 USA - ISM Manufacturing PMI
Tuesday
4:45 China - Caixin Manufacturing PMI
7:30 Australia - Interest rate decision
11:30 UK - Manufacturing PMI
Wednesday
1:45 New Zealand - Employment change
11:30 UK - Construction PMI
12:00 EU - GDP
15:15 USA - ADP Nonfarm
17:30 USA - Crude oil inventories
21:00 USA - Interest rate decision
Thursday
11:30 UK - Services PMI
12:00 EU - Retail sales
Friday
4:30 Australia - Monetary policy statement
15:30 USA - Nonfarm payrolls
15:30 USA - Unemployment change
15:30 Canada - Employment change
During the next week, the investors eyes will be focused toward the NFP report, also to interest rate decision of FED. For the moment the expectations are for FED not to increase the interest rate.
The other critical moment is with the approaching of the 2nd round of the french elections. For the moment Macron is expected to win over Le Pen, which may lead to strong EUR.
The other important prerequisite for market turmoil might be North Korea. If the country starts any military actions or make another test of nuclear weapon, the investors will most likely turn toward the hedging instrument.
Trader Bozhidar Arabadzhiev
Varchev Traders Read more:
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