Week Ahead

Next week the US will be publishing March's jobs report, alongside ISM PMIs, ADP employment change, retail sales, durable goods orders and construction spending. Elsewhere, the RBA and RBI will be deciding on monetary policy, while the ECB is releasing its meeting minutes. Important data include: UK Markit PMIs; Eurozone inflation, unemployment and retail sales; Germany factory orders and industrial output; Japan business morale; China Caixin PMIs; and Australia trade balance, NAB business confidence and retail sales.

Next week the US will be publishing its highly anticipated jobs report. Market forecasts point to a payroll increase of 170 thousand in March, after job creation slowed sharply to a two-year low in February; while annual wage growth is expected to remain close to its strongest level in a decade. In addition, the ISM is releasing figures for Manufacturing and Non-Manufacturing PMIs, which are expected to show a slowdown in manufacturing and services growth during March. ADP employment change, retail sales, durable goods orders and construction spending will also be keenly watched, alongside business inventories, total vehicle sales and final Markit PMIs.

Elsewhere in America, important data include Canada employment figures and Ivey PMI; Mexico consumer and business morale; and Brazil industrial production, foreign trade and consumer sentiment.

Meanwhile, Britain's parliament will be debating on Monday about Brexit alternatives in an attempt to avoid a no-deal exit, following the third House of Commons rejection of Prime Minister Theresa May’s deal. Investors will be also waiting for updated figures of Markit PMIs, which point to a slowdown in the services and manufacturing sectors and a stagnation in construction output. Elsewhere in Europe, the ECB publishes its monetary policy meeting accounts. Traders will also keep an eye on the Eurozone inflation rate, unemployment rate and retail sales; Germany factory orders and industrial production; France trade balance; Italy and Spain Manufacturing and Services PMIs; and Turkey inflation rate.

The Bank of Japan's tankan survey will also be followed and will probably show a deterioration in confidence among big manufacturers to the lowest in two years. China, on the other hand, will be releasing its Caixin PMIs, providing an update on manufacturing and services activity during March. The Reserve Bank of Australia will meet to set monetary policy, but no changes are expected. On the economic data front, important releases include trade balance, NAB business confidence, retail sales, building permits and AIG indexes for manufacturing, services and construction sectors. The Reserve Bank of India will also be deciding on monetary policy. Other key highlights for the Asia-Pacific region include: South Korea trade figures and inflation; Indonesia and the Philippines consumer price data; and Malaysia foreign trade.

Week Ahead

Joana Ferreira | joana.ferreira@tradingeconomics.com
3/29/2019 6:33:55 PM