UPDATE : Mandatory Two Factor Authentication on all OspreyFX Accounts - Read more

28 Mar 2021
3 min read

A Look Ahead into the Week

A Look Ahead into the Week

*OspreyFX would like to state that traders should research extensively before following any information given hereby. Any assumptions made in this article are provided solely for entertainment purposes and not for traders to guide or alter their positions. Please read our Terms & Conditions and Risk Disclosure for more information.

Key Takeaways

  • Key data to catch investors’ attention this week
  • Good Friday to have equity markets closed

The week, starting March 29 will be shorter than usual but nonetheless full of events and developments both in the US and overseas. On Monday, markets will be trading in their regular hours without any significant economic data on the agenda. On Tuesday, at 10:00 am EST, the US will release Conference Board (CB) Consumer Confidence figures for March. The indicator aims to gauge the level of consumer confidence in economic activity and serves to predict consumer spending.

Wednesday is packed with economic data from both sides of the Atlantic. The UK kicks off at 02:00 am EST with its GDP data on an annual and quarterly basis for the fourth quarter. The quarter-on-quarter preliminary release of GDP data arrived on Feb 12 when figures showed 1.00% growth. The forecast for finalized GDP data sits at 15.5%. Later, at 03:55 am EST, Germany will report its unemployment rate. The numbers will show if the labour market picked up in March or the pandemic is still weighing on new jobs.

At 05:00 am EST, the European Union will report March CPI data. The Consumer Price Index will reveal if prices are rising in the euro-area. The indicator is a key metric to measure changes in inflation and purchasing trends. At 08:15 am EST, the US is set to release the ADP Unemployment report for March. At 08:30 am EST, Canada is scheduled to report its GDP data on a monthly basis for January. And in the evening, at 08:30 pm EST, Australia will release its retail sales report for February.

Thursday is relatively light with Germany reporting manufacturing PMI data for March at 03:55 am EST. At 04:30 am EST, the UK announces its manufacturing PMI data, also for March. And at 10:00 am EST, the US arrives with its own report of March manufacturing PMI data. 

On Friday the market will take a break as the Easter holiday begins with Good Friday. Markets in the US and Europe will be closed. US equity markets, according to data from the NYSE, will be closed on Friday. However, according to data from the US Bureau of Labor Statistics, the most closely observed monthly economic reports will be released as usual on the first Friday of the month. Non-farm payrolls and unemployment rate arrive at 08:30 am EST. Previously, the figures showed 379,000 new jobs created for February, while unemployment rate was little changed at 6.2%. 

 

Subscribe to our newsletter to receive our weekly updates + more straight to your inbox!

 

  • This field is for validation purposes and should be left unchanged.