Important Data Releases: NFP, BOCs & Rates
Yesterday, Wednesday’s trading session in European markets closed with the IBEX 35 up 1.56%, the CAC 40 ending the day at 6,339.47 and up 1.40%, and the DAX30 closing higher 2.12%. Following the release of German industrial orders data, which rose 1.5% in March — representing an increase of up to 3% this month — it is possible that today, Thursday the markets could favor the German DAX30 index at the open.
Meanwhile, in the US, the Nasdaq 100 had a slight fall of 0.30%, the Dow Jones rose 0.29%, and finally, the S&P500 closed with a small increase of 0.70%.
Today, Thursday, several data releases likely to impact the markets, are scheduled to be released. The Bank of England is expected to publish its interest rates decision. The Bank of England’s interest rate hike is seen as positive for the sterling, and according to the forecast it is expected to remain unchanged at 10%. Norway and Australia will also release their rates data.
In Europe, Lagarde will give a speech on the continent’s economy, and retail sales m/m will be released. The index is often referred to as the consumer spending indicator and provides an assessment of inflation in the euro area. The forecast is 0.2%.
The NFP, the US labor market figure, is slated to be released tomorrow, Friday. March’s figure was 916k and the forecast for April is 950k. The numbers point to the fact that the labor market has not fully recovered from the pandemic hit yet. Recently, Fed Chairman Jerome Powell commented that more jobs are expected to be created in the coming months.
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