Week's main events (March 6

It will be a volatile week. This week's main events for investors will be the US Nonfarm Payrolls and Interest Rate Decisions from the central banks of Japan, Canada, and Australia. The Bank of Canada is expected to keep the interest rate at the same level, while the Reserve Bank of Australia may raise rates by another 0.25%. In Japan, no change in monetary policy is forecast, but there may be surprises with the removal of yield curve top control. In the United States, Friday's February employment report will be the last before the upcoming Fed meeting on March 21-22. The economy is expected to add 200,000 jobs last month. Before Friday's jobs report, Powell will appear before Congress to present the central bank's report on monetary policy. He will testify before the Senate on Tuesday and the House of Representatives on Wednesday.

Monday, March 06

On Monday, traders will mainly focus on the Swiss inflation data. Inflationary pressures are expected to fall from 3.3% to 3.1% in annual terms. But volatility on currency pairs with the Swiss franc will increase.

Main events of the day:

– Switzerland Consumer Price Index (m/m) at 09:30 (GMT+2);
– UK Construction PMI (m/m) at 11:30 (GMT+2);
– Eurozone Retail Sales (m/m) at 12:00 (GMT+2);
– Canada Ivey PMI (m/m) at 17:00 (GMT+2).

Tuesday, March 07

Tuesday will bring various statistics for many countries. The main event will be the decision of the central bank of Australia on the interest rate. Analysts are forecasting a 0.25% rate hike, but there could be surprises in terms of the RBA leaving the rate unchanged as recent data showed that the economy grew at its weakest pace in the fourth quarter, and January CPI showed that inflation may have peaked. Also, the focus of traders' attention should be directed to the speech of the heads of central banks.

Main events of the day:

– Australia Retail Sales (m/m) at 02:30 (GMT+2);
– China Trade Balance (m/m) at 05:00 (GMT+2);
– Australia RBA Interest Rate Decision (m/m) at 05:30 (GMT+2);
– Australia RBA Rate Statement (m/m) at 05:30 (GMT+2);
– Switzerland Unemployment Rate (m/m) at 08:45 (GMT+2);
– US Fed Chair Jerome Powell Testifies at 17:00 (GMT+2);
– Switzerland SNB Chairman Jordan speaks at 20:30 (GMT+2);
– Australia RBA Gov Lowe speaks at 23:55 (GMT+2).

Wednesday, March 08

The Bank of Canada's monetary policy meeting will be the key event on Wednesday. The Bank of Canada is expected to keep rates unchanged. It will be the first meeting since policymakers announced a pause in January to give the economy time to adjust to higher borrowing costs. Investors should also listen carefully to Jerome Powell's speech to the US Congress. His comments will be scrutinized for hints of whether a broader rate hike is being considered this month after recent data pointing to persistent inflation.

Main events of the day:

– German Industrial Production (m/m) at 09:00 (GMT+2);
– German Retail Sales (m/m) at 09:00 (GMT+2);
– Eurozone ECB President Lagarde Speaks at 12:00 (GMT+2);
– Eurozone GDP (q/q) at 12:00 (GMT+2);
– US ADP Nonfarm Employment Change (m/m) at 15:15 (GMT+2);
– US Trade Balance (m/m) at 15:30 (GMT+2);
– Canada Trade Balance (m/m) at 15:30 (GMT+2);
– US Fed Chair Jerome Powell Testifies at 17:00 (GMT+2);
– US JOLTs Job Openings (m/m) at 17:00 (GMT+2);
– Canada BoC Interest Rate Decision at 17:00 (GMT+2);
– Canada BoC Rate Statement at 17:00 (GMT+2);
– US Crude Oil Reserves (w/w) at 17:30 (GMT+2).

Thursday, March 09

Thursday will be a quieter day before the important Friday report. The main focus of investors this day will be inflation data in China, as well as last quarter's GDP report in Japan. These data will influence major Asian indices as well as oil prices.

Main events of the day:

– Japan GDP (q/q) at 01:50 (GMT+2);
– China Consumer Price Index (m/m) at 03:30 (GMT+2);
– China Producer Price Index (m/m) at 03:30 (GMT+2);
– US Initial Jobless Claims (w/w) at 15:30 (GMT+2);
– US Natural Gas Storage (w/w) at 17:30 (GMT+2).

Friday, March 10

The most important Friday's release is the US Nonfarm Payrolls report. This data can trigger increased volatility in the market, and this indicator is also taken into account by the Fed to adjust monetary policy. Another stronger-than-expected report could heighten fears of more hawkish Fed action. The Bank of Japan will hold a monetary policy meeting on Friday. No changes are expected, but volatility on the currency pair with the Japanese yen will be higher. Traders should also keep an eye on the British GDP report, which will show whether the UK economy has managed to avoid falling into recession.

Main events of the day:

– Japan Producer Price Index (m/m) at 01:50 (GMT+2);
– Japan BoJ Interest Rate Decision at 05:00 (GMT+2);
– Japan BoJ Rate Statement at 05:00 (GMT+2);
– UK GDP (m/m) at 09:00 (GMT+2);
– UK Industrial Production (m/m) at 09:00 (GMT+2);
– UK Manufacturing Production (m/m) at 09:00 (GMT+2);
– US Nonfarm Payrolls (m/m) at 15:30 (GMT+2);
– US Unemployment Rate (m/m) at 15:30 (GMT+2);
– Canada Unemployment Rate (m/m) at 15:30 (GMT+2).

by JustMarkets, 2022.03.06

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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Week's main events (March 6 – March 10)

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