What to look forward to this trading week
A brand new trading week is upon us and with it comes yet another opportunity to profit from the financial markets. Volatility is still the only constant in the financial markets and this week could present some interesting price action as global markets digest Friday’s jobs data out of the USA. Locally, we are not expecting a lot of significant economic data however a couple of listed companies are expected to release their earnings results. Below I have highlighted the key events and earnings that traders need to look out for this week.
- To start off the week we are expecting earnings results from Raubex Group and Redefine Properties. We are not expecting any other set of economic data locally. On the international front, the United Kingdom is closed for a bank holiday but its European counterpart Germany is expected to release its Factory Orders numbers.. iN the USA, a couple of FOMC members are expected to speak later on this afternoon which should provide critical insights into the thinking surrounding last week’s interest rate decision as well as future outlooks.
- Australian Retail Sales data kicks off Tuesday for the financial markets before attention shifts to China for key Trade Balance data. Later on that morning Germany is also expected to release its Trade Balance numbers along with its Industrial Production numbers. US Fed Chair Jerome Powell is expected to make a speech right early on that morning. Locally, Rebosis Property Fund is expected to release its earnings results, and in terms of economic data we are numbers on South Africa’s Gross and Net Reserves.
- On Wednesday the major economic data to look out for is the PPI and Wholesale Inventories numbers out of the USA. The US is also expected to release its weekly Crude Oil Inventories numbers and later on that evening attention shifts down under as New Zealand announces its interest rate decision. Locally, Long4Life is expected to release its earnings results and in terms of economic data we are expecting the SACCI Business Confidence numbers for April.
- China will set the tone for Thursday with the release of its CPI and PPI numbers. It’s a bank holiday for some countries in Europe namely Switzerland, France and Germany so there might not be much activity in Europe. However we do expect the United Kingdom to release Manufacturing Production, Goods Trade Balance and Industrial Production numbers. More importantly, the Bank of England is expected to announce its interest rate decision at 1pm that afternoon. That same afternoon the USA is expected to release its CPI data as well as the weekly Initial Jobless Claims numbers. In South Africa, we are expecting Manufacturing and Mining Production numbers, as well as earnings results from Allied Electronics and Equities Property Fund.
- Friday is expected to be relatively quiet as we are not expecting much significant economic data. Canada is expected to release its Unemployment Rate data whilst the USA is expected to release its Import Prices data. Currency traders might want to take note of ECB President, Mario Draghi’s speech later on that afternoon which should conclude the trading week for the financial markets.
We will be keeping tabs on the events in the markets. Check out our blog for market updates, insights from our GT247.com team, and our independent analysts. Not sure about a trade? Call the GT247.com Trading Desk on 087 940 6102, and bounce your idea off one of our dedicated traders.
Until next week, we wish you profitable trading!