This week’s Market News Report will be a little shorter than usual. Last week’s economic data releases have revealed more coronavirus damage to the economy. Thursday’s weekly Unemployment Claims number has been close to 7 million once again. Two weeks ago it was the first data to show the impact of the pandemic on the U.S. economy. And we will likely get more bad economic data in the future. However, the markets remained relatively calm last week, as investors continued buying stocks.
What about the coming week? Let’s take a look at the key highlights:
- The markets will likely pay the most attention to Wednesday’s U.S. Retail Sales and Thursday’s Unemployment Claims releases.
- We will also get China’s GDP number on Wednesday.
- On Wednesday there will also be important economic data releases from Australia and Canada.
- Last but not the least, oil traders will await Tuesday’s and Wednesday’s inventories data release.
You will find this week’s key news releases below (EST time zone). For your convenience, we broke them down per market to which they are particularly important so that you know what to pay extra attention to if you have or plan to have positions in one of them. Moreover, we put the particularly important news in bold. This kind of news is what is more likely to trigger volatile movements. The news that are not in bold usually doesn’t result in bigger intraday moves, so unless one is engaging in a particularly active form of day trading, it might be best to focus on the news that we put in bold. Of course, you are free to use the below indications as you see fit. As far as we are concerned, we are usually not engaging in any day trading during days with “bold” events on a given market. However, in the case of more medium-term trades, we usually choose to be aware of the increased intraday volatility, but not change the currently opened position.
Our Market News Report consists of two different time-related perspectives. The investors’ perspective is only suitable for long-term investments. The single economic data releases rarely cause major outlook changes. Hence, we will only see a handful of bold markings every week. On the other hand, the traders’ perspective is for traders and day-traders, because the assets’ prices are likely to react on a single piece of economic data. So, there will be a lot more bold markings on potentially market-moving news every week.
Investors’ Perspective
Gold, Silver, and Mining Stocks
Wednesday, April 15
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m
Thursday, April 16
- 8:30 a.m. U.S. - Unemployment Claims
- 10:00 p.m. China - GDP q/y
Tuesday, April 14
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
Wednesday, April 15
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m
- 10:30 a.m. U.S. - Crude Oil Inventories
Thursday, April 16
- 8:30 a.m. U.S. - Unemployment Claims
- 10:00 p.m. China - GDP q/y
Stock Markets
Wednesday, April 15
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m
Thursday, April 16
- 8:30 a.m. U.S. - Unemployment Claims
- 10:00 p.m. China - GDP q/y
Wednesday, April 15
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m
Thursday, April 16
- 8:30 a.m. U.S. - Unemployment Claims
- No important economic data releases scheduled
- No important economic data releases scheduled
Wednesday, April 15
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m
- 10:00 a.m. Canada - Overnight Rate, BOC Monetary Policy Report, BOC Rate Statement
- 11:15 a.m. Canada - BOC Press Conference
Thursday, April 16
- 8:30 a.m. U.S. - Unemployment Claims
- 10:00 p.m. China - GDP q/y
Wednesday, April 15
- 9:30 p.m. Australia - Employment Change, Unemployment Rate
Thursday, April 16
- 10:00 p.m. China - GDP q/y
Summing up, the financial markets will likely continue to react to news about globally spreading coronavirus in the near future. The scheduled economic data releases seem less important than monetary policy updates or news about governments’ interventions recently. However, if you’re an investor and not a trader, you should pay extra attention to Wednesday's economic data releases from Australia and Canada. In addition, this week’s Retail Sales and Unemployment Claims releases may show further virus impact on the U.S. economy.