22nd April 2019 - 26th April 2019
Monday On Monday, most of the markets are closed only the US market will open and USD Existing home sales report is coming up. It is expected to be low reading comparative to previous. Tuesday On Tuesday, while sales of new homes consist only a small part of the market, every sale trigger additional economic activity around it. Similar to existing homes, a rebound was recorded with 667K annualized sales in February. The Low reading is seen negative for dollar. Wednesday On Wednesday ,2 mid-tier reports from Europe and Canada are due to released. EUR Economic Bulletin and IFO business climate. It is expected to be the same, it will not affect the euro market much. The Bank of Canada recently made a dovish tilt, following the lead of other central banks. Officials see a potential of growth without inflation. In addition, the fresh BOC Business Survey showed a deterioration in economic conditions. The BOC is not expected to cut interest rates at this juncture, but Governor Stephen Poloz may provide further comments on the next policy moves in his press conference. The Ottawa-based institution also releases new forecasts. Thursday It will be a major day for Japanese Yen and greenback. On Thursday, early in the day. The Bank of Japan remains the most dovish central bank in the developed world despite a dovish tilt from quite a few central banks. The BOJ is due to leave the interest rate at -0.10% and pledge to hold down the long-term interest rate, by targeting a low 10-year yield. BOJ Governor Haruhiko Kuroda will hold a press conference at the wake of the European session to explain the decision. Friday O Friday, the first release of US GDP tends to provide the broadest surprise and the most significant market impact. The US economy grew at an annualized pace of 2.2% in Q4 2018, beating other developed economies. The first quarter of 2019 likely saw slower growth, partly due to the government shutdown. But how much did the economy slow down? Note that expectations may shift in the last minute due to the durables report.
