28 Apr 2014
Key data releases to lead the way this week – Danske Bank
FXStreet (Edinburgh) - Senior Analyst Morten Helt underlines the relevance of this week’s data releases in determining price action.
Key Quotes
“We get a quiet start to a very busy week. Only release of interest today is the US pending home sales for March, which normally leads existing home sales by one to two months. It will give more information about the current slowdown in US housing and how much rebound we may see following the bad weather period. We look for a small rise of 0.4% m/m”.
“The rest of the week is packed with key events. In the US we have FOMC meeting (Wednesday), ISM manufacturing (Thursday) and non-farm payrolls (Friday). We generally see upside risks to both ISM and non-farm payrolls and for the Fed to taper another USD10bn and nod to the latest improvement in data. The FOMC meeting is without press conference and new projections this time but Fed chairman Janet Yellen speaks on Thursday, the day after the meeting”.
“In the euro-area the highlight of the week will be the first estimate for inflation in April (Wednesday), which is expected to increase to 0.8% y/y from the low print of 0.5% y/y in March”.
Key Quotes
“We get a quiet start to a very busy week. Only release of interest today is the US pending home sales for March, which normally leads existing home sales by one to two months. It will give more information about the current slowdown in US housing and how much rebound we may see following the bad weather period. We look for a small rise of 0.4% m/m”.
“The rest of the week is packed with key events. In the US we have FOMC meeting (Wednesday), ISM manufacturing (Thursday) and non-farm payrolls (Friday). We generally see upside risks to both ISM and non-farm payrolls and for the Fed to taper another USD10bn and nod to the latest improvement in data. The FOMC meeting is without press conference and new projections this time but Fed chairman Janet Yellen speaks on Thursday, the day after the meeting”.
“In the euro-area the highlight of the week will be the first estimate for inflation in April (Wednesday), which is expected to increase to 0.8% y/y from the low print of 0.5% y/y in March”.