Top 6 Economic Events of This Week

Fed Chair Powell Speaks, RBA's Governor Lowe speech, German Flash Manufacturing PMI, U.K Retail Sales (MoM), US Nonfarm Payrolls – another big week ahead 👀 Let's take a look!

BOE Gov Bailey Speaks – (Monday, March 28)

The Governor of the Bank of England, Andrew Bailey, is one of the most well-known figures in the financial world. At the end of Mark Carney's term on March 16, 2020, he took office. Bailey was the Financial Conduct Authority's Chief Executive before being named. From April 2013 until July 2016, this British central banker served as the Bank of England's Deputy Governor, and from January 2004 to April 2011, he was the bank's Chief Cashier. Andrew Bailey holds more authority over the country's currency value than anyone else as the chairman of the central bank, which regulates short-term interest rates. This is why traders pay great attention to his public appearances since they are often used to give clues about future monetary policy.

Watch out for AUD/USD.

JOLTS Job Openings – (Tuesday, March 29)

Job openings in the United States will be held on Tuesday, March 29th at 14:00 GMT. JOLTS Job Openings is a survey conducted by the US Bureau of Labor Statistics to help determine the number of job openings. Each month, it collects data from employers such as merchants, manufacturers, and various workplaces. The current consensus for the next JOLTS job openings in the United States is 11.258, with the previous deviation being 0.65216. The Job Openings and Labor Turnover Survey (JOLTS) provides data on job openings, newly hired, new leavers and layoffs, and other types of labor market turnover on a monthly basis. The number of job opportunities is regarded as a barometer of the labor market's health. A rising figure usually denotes a developing economy, which is sometimes referred to as being dollar positive. Lower demand and more layoffs, on the other hand, indicate that growth is slowing.

Watch out for EUR/USD and other dollar-related currency pairs for price action.

ADP Non-Farm Employment Change – (Wednesday, March 30)

The ADP Employment Change in the United States will take place on Wednesday, March 30th at 12:15 GMT. The Automatic Data Processing, Inc. Employment Change is a measure of the number of people employed in the United States. A rise in this statistic, in general, has a positive impact on customer spending, thereby promoting economic growth. As a result, a high reading for the USD is traditionally considered positive, or bullish, whereas a low value is considered negative, or bearish. The latest deviation from the consensus for the next ADP Employment Change in the United States is 0.28589.

Watch out for EUR/USD and other dollar-related currency pairs for price action.

Canada Gross Domestic Product (MoM) - (Thursday, March 31)

On Thursday, March 31st, at 12:30 GMT, Canada's Gross Domestic Product (MoM) will be released. Statistics Canada's Gross Domestic Product is a measure of the total value of all products and services produced in Canada. The gross domestic product is a broad indicator of economic activity and health in Canada. In general, a rising trend is considered favorable for the CAD, whilst a falling trend is considered bad (or bearish). For Canada's Gross Domestic Product (MoM) consensus, we don't know when it will be next. The most recent deviation was -0.5157.

Watch out for USD/CAD.

ISM Manufacturing PMI - (Friday, April 01)

The United States ISM Manufacturing PMI will be released on Friday, April 1st, at 14:00 GMT. The Institute for Supply Management's (ISM) Manufacturing Index measures the performance of the region's manufacturing industry. It is a critical indicator of the overall economic situation in the United States. A figure greater than 50 is generally regarded as acceptable (or "bullish") for the USD, while a figure less than 50 is regarded as negative (or "bearish"). The next ISM Manufacturing PMI in the United States is expected to be 58.4, with a 0.67694 margin of error.

Watch out for EUR/USD and other dollar-related currency pairs for price action.

US Nonfarm Payrolls and Unemployment Rate – (Friday, April 01)

The unemployment rate in the United States fell to 3.8 percent in February 2022, from 4 percent the previous month, a new pandemic low and lower than market expectations of 3.9 percent. The number of unemployed fell by 243 thousand to 6.270 million. Prior to the coronavirus pandemic, the unemployment rate was 3.5 percent in February 2020, with 5.7 million people out of work. In the meantime, the labor-force participation rate increased to 62.3 percent in February, the highest level since March 2020.

Watch out for EUR/USD and other dollar-related currency pairs for price action.

That's it for this week, happy trading!📊

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