In This Article:
On the Macro
For the Dollar:
It’s a quieter week ahead for the Greenback.
Through the first part of the week, March existing home sales and new home sales figures are due out on Monday and Tuesday.
The numbers are unlikely to have a material influence, with sentiment towards the housing sector having seen a marked improvement of late.
Data due out in the 2nd half of the week will have a more material impact on the Dollar and risk sentiment. March durable goods orders are due out on Thursday, with 1st quarter GDP numbers due out on Friday.
While softer numbers are expected, due to the extended government shutdown, anything worse than forecasted will hit risk appetite hard.
Outside of the figures, expect earnings and geopolitical risk to also impact the Dollar in the week.
The Dollar Spot Index ended the week up 0.42% to $97.378.
For the EUR:
Economic data includes flash consumer confidence figures out of the Eurozone on Tuesday, which are released ahead of Germany business confidence numbers on Wednesday.
Of less material influence will be French jobseeker figures on Friday.
In a shortened week, European markets closed on Monday, business confidence figures will likely have the greatest impact.
The EUR/USD ended the week down 0.48% to $1.1245.
For the Pound:
It’s a quiet week ahead. Key stats are limited to CBI Industrial Trend Orders due out on Thursday.
Barring a material move from March’s figure, which was the weakest since May 2018, there’s unlikely to be too much impact on the Pound.
MP’s return to Westminster on Tuesday and Theresa May will be on a mission to wrap up an exit solution before the EU Parliamentary elections.
Indicative votes could be on the cards in the week.
The GBP/USD ended the week down 0.62% at $1.2993.
For the Loonie:
It’s a quiet week ahead on the data front, with key stats limited to wholesale sales figures due out on Tuesday.
A material jump in sales would provide support for the Loonie, though the main event will be on Wednesday. The Bank of Canada will deliver its April monetary policy decision and report ahead of the customary press conference.
With the U.S – China trade war ongoing, there’s little incentive for the BoC to change tact. They will likely remain dovish, joining a string of banks that have raised concerns over the economic outlook.
The Loonie ended the week down 0.51% to C$1.3391 against the U.S Dollar.
Out of Asia
For the Aussie Dollar:
It’s a quiet week ahead. 1st quarter inflation and wholesale inflation figures are due out on Wednesday and Friday respectively. Following the latest RBA minutes and uncertainty over the economic outlook, this week stats will have a material impact on the Aussie Dollar.