North America Trading Outlook for the week of April 2, 2017
March went out like a lamb after coming in like a Lion, but April could kick off with a busy week for trading as focus shifts from politics back to the economy.
It’s a big week for data headlined by Manufacturing PMI reports on Monday, Service PMI and ADP Payrolls on Wednesday and US nonfarm payrolls plus Canada employment on Friday.
After the fireworks of the last two weeks, politics moves to the back burner both in the US and UK/Europe until later in the month. Sterling has been recovering since Article 50 was triggered and could be active around UK PMI and other economic reports. There are a few Fed speakers, plus FOMC and ECB minutes but markets may not pay much attention unless there is a major surprise.
There could be more opportunities to trade evenings during the week with a number of reports due from Australia that could move AUD and could impact sentiment toward resource producing countries in general. Canada has a number of economic reports out this week as well. With the US preparing to renegotiate NAFTA, US and Canada trade balances may attract more attention than usual.
Economic news (North America time):
Sunday evening Australia retail sales, inflation, commodity prices, manufacturing PMI
Monday Manufacturing PMI for US, Canada, UK, Germany, etc.
US construction spending
FOMC Dudley, Harker, Lacker speaking
Monday evening Australia RBA (1.50% no change expected)
Tuesday US and Canada trade balance, US factory orders
UK construction PMI
FOMC Tarullo speaking
Tuesday evening Service PMI for Japan and Australia
Wednesday US ADP Payrolls
FOMC March meeting minutes
Service PMI for US, UK, Germany, etc.
Thursday ECB March meeting minutes
Friday US nonfarm payrolls
Canada employment, Ivey PMI, new bank note
UK industrial production, construction, trade balance
There are no major earnings reports this week