Tesla, Netflix and Goldman Sachs first By FXMAG Spain

© Reuters. Macroeconomic calendar: the dollar will continue to be under pressure and this data will affect exchange rates. Earnings season begins: Tesla, Netflix and Goldman Sachs first

FXMAG Spain – Don’t let the market surprise you! Check which macroeconomic readings will affect the volatility of the currency market, commodity prices and major stock exchanges in the coming days.

  • On Monday, the NBP will publish data on core inflation for March, and on Friday we will receive GUS data on employment and wages in March.
  • March inflation data for the UK and the Eurozone will be released on Wednesday.
  • On Friday, we will see preliminary April PMI readings for manufacturing in the US, Eurozone, Germany, UK and France.
  • Next week will also be busy in terms of the release of financial statements for the first quarter of companies listed on the Warsaw Stock Exchange.

Monday, April 17

The first trading day of the new week will not be too rich in macroeconomic announcements. In the European session, it is worth paying attention to the final reading of consumer inflation for March in Italy (at 10:00): preliminary data showed a significant decrease in price growth, both on an annual and monthly level: 7.7% y/y – 0, 3% month-on-month compared to 9.1% year-on-year and 0.2% month-on-month in February.

U. At 2 p.m. the National Bank of Poland will publish data on core inflation for March. Once again, one should not expect optimistic readings: it will almost certainly be another all-time record for the rate of inflation excluding food and energy prices, as admitted by the President of the National Bank of Poland, Adam Glapiński, at the last conference. . Analysts expect a reading of 12.2% year-on-year, compared with 12% year-on-year in February and 11.7% year-on-year in January.

No major US macro announcements in Monday’s session – the April reading for the NY Empire State Index, which shows sentiment among CEOs and managers of major manufacturing companies, will be released at 2:30 PM for New York State. Analyst forecasts assume a reading of -16 points versus -24 points. registered in March (a reading below 0 means a worsening of the economic situation).

At 18:00, the intervention of the member of the Open Market Committee, Thomas Barkin, will begin.

In February at 10 p.m., data on long-term capital inflows and monthly capital inflows will be published.

On Monday, we will also see reports for the first quarter of 2023 from companies in the US stock market such as Charles Schwab (NYSE:) o State Street (NYSE:).

Tuesday, April 18

Tuesday’s session will begin with a series of important data from the Chinese economy. U. At 4:00 a.m. China’s GDP readings for the first quarter of 2023 will be released: analysts expect economic growth to improve to a reading of 2.2% quarter-on-quarter and 4% year-on-year. In the fourth quarter of last year, the Chinese economy grew by 2.9% on an annual basis and stagnated on a quarterly basis. At the same time, we will also receive data on Chinese retail sales and industrial production in March.

The U.S. Office for National Statistics will release a series of data on the British labor market at 8:00 a.m. The unemployment rate readings for March and the number of claims for unemployment benefits will be published, as well as data on the average wage (with and without allowances) for February.

U. At 11:00 the ZEW Institute will publish the April reading of the German economic sentiment index. Analysts forecast a slight improvement in sentiment in April, with a reading of 15 from 13 in April. registered in March (on a scale of -100 to 100 points).

Returning to the data for the US economy from Tuesday, it is worth paying attention to the announcements on the US real estate market. U. 14:30 The Census Bureau will show data for March on issued building permits and the start of house construction. Inflation data (including core inflation) in Canada for March will be released at the same time. Analysts expect a significant drop in price growth on an annual basis to 4.3% y/y (from 5.2% y/y in February).

U. FOMC member Michelle Bowman’s speech will begin at 7 p.m.

At the session on Tuesday, financial reports for the first quarter of companies on the Warsaw Stock Exchange such as: Bumech and Boryszew will be published.

US listed companies that will show their results include: Netflix (NASDAQ: ), Johnson & Johnson (NYSE: ), Bank of America (NYSE: ), Goldman Sachs (NYSE: ) and Lockheed Martin (NYSE:).

Wednesday, April 19

Japanese industrial production data for February will be released on Wednesday (at 6:00 GMT). The forecast reading (after seasonal adjustment) is 4.5% m/m, up from -5.3% m/m in January.

U. A set of UK inflation data for March will be released at 8:00 AM. These will include data on (expected reading of 9.8% y/y vs. 10.4% y/y in February) and core inflation (expected 6% y/y vs. 6.2% y/y in February) . In addition, producer inflation (including core PPI) and RPI inflation ie including loan servicing costs (expected 13.3% y/y vs. 13.8% y/y in February) will also be released.

U. At 11:00 we will have final data for March on HICP inflation (including core) in the Eurozone: the preliminary reading was 6.9% y/y (vs. 8.5% y/y in February). , while in the case of core inflation HICP inflation was 5.6% y/y compared to 5.6% y/y the previous month.

As far as US data is concerned, it is worth mentioning the release of the Fed’s Beige Book in April, the report on the Federal Reserve’s monetary policy, which is traditionally published two weeks before the next Market Committee meeting.

Among the companies listed on the Warsaw Stock Exchange, financial results for the first quarter will be announced by Grupa Kęty and Celon Pharma, among others.

Wednesday will be important for the publication of the financial results of American companies: the reports will be published by, among others, Tesla, IBM (NYSE:) o Morgan Stanley (NYSE:).

Thursday, April 20

At Thursday’s session, we will receive data on Japan’s foreign trade balance for March (published at 01:50).

U. 08:00 Destatis will release data on producer inflation in Germany for March. Analysts forecast PPI for 9.9% y/y compared to 15.8% y/y recorded in February.

U. At 2:30 p.m., the Philadelphia Fed Index for April, which shows the state of mind of business people in the Pennsylvania region, will be released. The predicted reading is -20 points versus -23.2 points. registered in March.

U.S. secondary home sales data will be released at 4:00 PM in March (forecast of 4.5 million vs. 4.58 million in February).

At 18:00 the speech of FOMC member Christopher Waller begins, and at 18:20 the conference of Cleveland Fed head Loretta Mester begins.

At 21:00 Bowman Michelle Bowman from the FOMC will start his lecture, and at 23:00 Raphael Bostic (head of the Atlanta Fed) will start his lecture.

U.S.-listed companies scheduled to report first-quarter results on Thursday include: AT&T (NYSE: ), TSMC and American Express (NYSE:).

Friday, April 21

At the end of the next trading week, we will get March inflation data from Japan (released at 01:30). Analysts’ projection for core inflation assumes that the annual dynamics will remain at 3.1%, identical to that of February.

U. At 8:00 a.m. UK retail sales data will be released.

On Friday, we’ll also get flash PMI readings for manufacturing and services in France, Germany and the Eurozone (released before 10:00 GMT), as well as the UK (released at 10:30 GMT).

At 10:00 CSO will present data on the Polish labor market for March: employment and wage readings.

April PMI readings for US manufacturing and services (at 15:45 GMT) will be key at the end of the trading week.

On Friday, the financial reports of companies on the Warsaw Stock Exchange, such as: PKN Orlen or Votum, will be published.

Procter & Gamble is one of the companies listed on the American stock exchanges that will announce financial results for the first quarter.

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