Week Ahead: Major Events

By TraderVox.com

Tradervox (Dublin) – After voters in Greece and France voted against austerity measures, the euro is expected to have a tough week ahead. In Greece, the new government is expected to try and renegotiate the bailout conditions and this is expected to hurt the euro in the short term. In France, Francios Hollande’s victory is expected to change the austerity policy in Europe. These are some of the issues that will affect the euro in the short term; however, here are some of other major events that will move the market during the week.

Monday 7

The ANZ job Advertisements report for April will be released at 0130hrs GMT. This report will show the number of jobs advertised in the month of April which is an indication of future employment growth. A high number is regarded as bullish for the AUD while low reading is bearish.

Another report expected to affect the market is the Swiss Unemployment rate NSA. It is expected that the rate of unemployment dropped during the month fro, 3.2 percent to 3.1 percent. This is expected to strengthen the CHF against the dollar and the euro.

Tuesday 8

At 1130hrs GMT, the market will get the NFIB Business Optimism Index in the US. The previous reading was at 92.5 but the market is expecting a decrease in this value following the poor NFP report coming from the world’s largest economy.

Wednesday 9

The market will be keen on the Japan Leading Economic Index for the month of March. The report will be released by the cabinet office at 0500hrs GMT and it is expected to show an increase to 97.0 from the previous reading of 96.3. The report is expected to show confidence in the Japan economy.

Thursday 10

On this day, the UK Rate decision is the main event that will carry the day. The report is scheduled to be released at 1100hrs GMT. The market expects the BOE Monetary Policy Committee to maintain the current 0.50 percent interest rate.

Friday 11

The major event of the day will be the US PPI. The market is expecting the reading to remain unchanged for the second month.

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