Look ahead: Fed reaction; BoE; PMIs; Nike; FedEx
A day after the Fed, the Bank of England is expected to keep interest rates on hold. Economists are still divided on whether or not the UK central bank will deliver its first rate cut as soon as August.
The US, the UK, and the eurozone release flash manufacturing and services PMIs. US earnings to watch include Nike and FedEx.
(AI Video Summary)
Japan trade balance numbers
This week, there are some important events happening around the world that traders should pay attention to. In Japan, the trade balance numbers show that the country's exports have increased by 5.3% compared to last year, while imports have increased by 2.2%. These numbers give us an idea of how Japan's economy is doing and can affect currency trading.
Australian unemployment rate
Another important event is the unemployment rate in Australia for February. It is expected to decrease to 4.0% from the previous month's 4.1%. This shows the health of Australia's job market and can impact trading of the Australian dollar.
Eurozone, UK and US
In the eurozone, the UK, and the US, there will be manufacturing and services PMIs flash released. These numbers provide insight into the direction of these sectors in each region. For example, Germany, which is part of the eurozone, is still struggling economically, although there are some signs of growth. This information can be useful for traders in the currency market.
BoE interest rate decision
In the UK, the Bank of England's interest rate decision is important as it can give signals about future rate cuts. This information is crucial for traders who are interested in the British pound.
US economic data
In the US, there will be data released about jobless claims, manufacturing index, and existing home sales. These numbers can give us an idea of the health of the US economy and can influence trading decisions.
Earnings reports
Lastly, there are some notable earnings reports that traders should keep an eye on. Companies like Next, Direct Line Insurance, FedEx, Accenture, and Nike will be releasing their financial results. Nike's results are particularly interesting because they are expected to announce a rare drop in sales for the first time in almost two years. This is due to slower consumption and sales in the industry, as well as slower demand in North America.
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