Investing.com - In the week ahead, market players will be turning their attention to a highly anticipated speech by Federal Reserve Chair Janet Yellen on Tuesday for further clues on the timing of the next U.S. rate hike.
March nonfarm payrolls data and the March ISM manufacturing report, both due Friday, will also be in focus, as investors attempt to gauge if the world's largest economy is strong enough to withstand further rate hikes in 2016.
Traders will also be looking out for data on China's manufacturing sector due on Friday, amid ongoing concerns over the health of the world's second biggest economy.
Meanwhile, Thursday’s euro zone inflation data will also be closely watched amid lingering worries over deflationary threats in the single currency region.
Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.
1. Fed Chair Yellen speaks
Federal Reserve Chair Janet Yellen is due to speak about the U.S. economic outlook and monetary policy at the Economic Club of New York at 15:30GMT, or 11:30AM ET Tuesday.
Yellen struck a surprisingly dovish tone following the conclusion of the Fed’s policy meeting on March 16, however hawkish comments from a handful of Fed officials last week sparked speculation that the U.S. central bank could give serious consideration to a rate hike at its April meeting.
2. U.S. nonfarm payrolls report
The U.S. Labor Department will release its March nonfarm payrolls report at 12:30GMT, or 8:30AM ET, on Friday.
The consensus forecast is that the data will show jobs growth of 205,000 last month, following an increase of 242,000 in February, the unemployment rate is forecast to hold steady at 4.9%, while average hourly earnings are expected to rise 0.2% after falling 0.1% a month earlier.
An upbeat employment report would help support the case for the Fed to steadily tighten monetary policy this year.
3. U.S. ISM manufacturing PMI survey
The U.S. Institute of Supply Management is to release data on March manufacturing activity at 14:00GMT, or 10:00AM ET, on Friday. The gauge is expected to rise 1.5 points to 51.0, the first reading above the 50.0-mark which signals expansion in four months.
4. China manufacturing PMIs
The China Federation of Logistics and Purchasing is to release data on March manufacturing sector activity at 1:00GMT on Friday, or 9:00PM ET Thursday, followed by the Caixin manufacturing index at 1:45GMT, or 9:45PM ET.
The official China's manufacturing purchasing managers' index is forecast to inch up 0.3 points to 49.3, while the Caixin survey is expected to rise to 48.3 from 48.0 in the preceding month.
A reading below 50.0 indicates industry contraction.
5. Euro zone flash March inflation figures
The euro zone will publish flash inflation figures for March at 9:00GMT, or 5:00AM ET, Thursday. The consensus forecast is that the report will show consumer prices declined 0.1%, compared to a drop of 0.2% in February, while core prices are expected to rise 0.9%, accelerating from a gain of 0.8%.
The European Central Bank rolled out fresh easing measures following the conclusion of policy meeting on March 10 in a bid to boost sluggish inflation and a weakening economy.
Stay up-to-date on all of this week's economic events by visiting: http://www.investing.com/economic-calendar/