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Busy Week Looms for Forex Markets Following Predicted Easter Slowdown

forex candle stick graphOn the final day of the forex trading week, it’s time to check out what’s happening today and into next week on the economic calendar.

Today (Friday) will see a likely slowdown in the forex markets thanks to the Good Friday holiday, which is marked in a number of major economies.

There will be some limited economic calendar activity, however. A business confidence release for April will be released in Italy at 8am GMT, while building permits information will be out of the US at 12.30pm GMT.

Into next week, Monday will also be slow given that the Easter Monday holiday will take place.

However, there will once again be some events. In the US, the Chicago Fed National Activity Index from the Federal Reserve Bank of Chicago covering March is due out at 12.30pm GMT.

Information on existing home sales is due out at 2pm GMT covering March. Month on month, this was last recorded at 5,510,000.

On Tuesday of next week, there’ll be a housing price index covering February out of the US at 11am GMT. Month on month, this was last recorded at 0.6%.

Preliminary European consumer confidence data for April is expected at 3pm GMT. This was last recorded at -7.2.

On Wednesday, the day will kick off with a number of major Australian data releases.

The Reserve Bank of Australia’s trimmed mean consumer price index for the first quarter of the year will be out at 12.30am GMT. Quarter on quarter, this was last recorded at 0.4%.

The Australian consumer price index for the first quarter of 2019 will be out the same time. This release was last recorded at 1.8% year on year.

There are some more public holidays taking place in key economies next Thursday. Australia and New Zealand will see bank closures as a result of ANZAC Day, while in Italy there will be bank closures due to Liberation Day.

Elsewhere, the Bank of Japan is set to release its interest rate decision at 2am GMT. This currently sits at -0.1%. It will release its monetary policy statement and its outlook report for the first quarter of 2019 at the same time.

Later in the day, the usual weekly set of jobless claims will come out of the US at 12.30pm GMT. This will include initial jobless claims for the dates around April 19th plus continuing jobless claims for the dates around April 12th.

Data on nondefense capital goods orders (excluding aircraft) in the US will be out at 12.30pm GMT, covering the month of March. This is expected to show a change from -0.1% to +0.1%.

Durable goods orders information for the same month will also be out of the US then. This is forecast to shift from -1.6% to +0.4%.

The day will be rounded off by a series of key Japanese data releases at 11.50pm GMT. The Tokyo consumer price index (excluding fresh food) will be out, covering April. Year on year, this was last recorded at 1.1%.

Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you.


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