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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 178068, member: 32345"] [B]Date : 16th March 2020 Events to Look Out For Next Week 16th March 2020.[/B] [IMG]https://analysis.hotforex.com/wp-content/uploads/2019/06/events2_1200x628-1068x559.png[/IMG] [B]Another eventful week is over, while an even more busier is expected. A policy-packed week once again, with monetary policy meeting in the world’s major economies, and the potential for guidance regarding future interest rate actions, from Fed, BoJ and SNB. The focus remains squarely on COVID-19. Assuming the coronavirus continues to spread exponentially, which is what the epidemiologists are warning, global markets are likely to ensure further panicky risk-off phases. Tuesday – 17 March 2020[/B] [LIST] [*][B]RBA Minutes and House Prices (AUD, GMT 00:30) –[/B] The RBA minutes should provide guidance as to how whether the RBA members actually are prepared for further easing. The bank signalled in its last meeting that it is ready to do more in a coordinated fiscal-monetary policy action. [*][B]Average Earnings (GBP, GMT 09:30)[/B] – Average Earnings excluding bonus are expected to have grown by 3.3% in January. The ILO unemployment rate is expected to have remained at 3.8%. [*][B]Economic Sentiment (EUR, GMT 10:00) [/B]– German March ZEW economic sentiment is expected to have sharply declined to -23.4 compared to 10.4 in February. [*][B]Retail Sales ( USD, GMT 12:30) – [/B]February gains of 0.2% are anticipated for headline retail sales and 0.3% for the ex-auto figure, following January gains of 0.3% for both measures. A -3.5% drop is seen for the CPI gasoline index, with an associated drop in service station sales. [/LIST] [B]Wednesday – 18 March 2020[/B] [LIST] [*][B]CPI Inflation (CAD, GMT 12:30) [/B]– Canadian core inflation is expected to have declined to 1.7% y/y, compared to 1.8% y/y in January. [*][B]Fed Interest Rate Decision and Conference (USD, GMT 18:00)[/B] – Fed announced on March 12, a massive repo term operations of a maximum of $500 bln in 1- and 3-month repos across the maturity spectrum. The market is still looking for aggressive easing by the FOMC next week, with another 50 bp rate cut with potential for move before FOMC meeting on 17th, 18th. Some Fedwatchers are projecting a 100 bp easing. [*][B]Gross Domestic Product (NZD, GMT 21:45)[/B] – New Zealand Q4 GDP is expected to have dropped by 0.5% q/q, compared to 0.7% q/q in 2019Q3. [/LIST] [B]Thursday – 19 March 2019[/B] [LIST] [*][B]Employment Data (AUD, GMT 00:30)[/B] – Both the unemployment Rate and the employment change are expected to have eased in February, decreasing to 5.2% and 11.6k respectively. [*][B]BoJ Interest Rate Decision and Conference (JPY, GMT 03:00- 06:00)[/B] – Shadowed by the Covid-19, the BoJ has less room for monetary policy manoeuvre, with Japan not depending of foreign investment inflows to sustain financing and with Japanese investors apt during times of risk aversion in global markets to repatriate capital from the sale of foreign assets, and/or put on currency hedges on foreign assets. Survey data released showed large Japanese manufacturers’ business sentiment fell to a nine-year low in Q1, which will keep the BoJ under pressure to loosen monetary policy at its upcoming policy review on March 18th-19th, however markets anticipate no change in the rates by BoJ . [*][B]SNB Interest Rate Decision (CHF, GMT 08:30)[/B] – The SNB is not expected to surprise markets as the Swiss rate is forecast to remain at -0.75%. [/LIST] [B]Friday – 20 March 2020[/B] [LIST] [*][B]PBoC Interest Rate Decision (CNY, GMT 01:30) –[/B]The People’s Bank of China injected $79 billion into the economy through a reduction in reserve ratios for banks, while it offered discounts to banks’ reserve ratios of between half and 1 percentage point from their original level. [B]Retail Sales (CAD, GMT 12:30)[/B] – Canada’s retail sales contracted in Q4, tracking expectations for a slowing in GDP. In contrast to Q4 outcome, January 2020 sales volume is forecasted at 0.3% gain from the flat December reading. [/LIST] [B]Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report.[/B] Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. [B] Andria Pichidi Market Analyst HotForex Disclaimer:[/B] This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission. [/QUOTE]
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