Markets expecting Greece to default, but think it’s contained
The euro rose above 1.07 this week, continuing its recent rebound, but the main concern for next week will be Greece. It seems like the country is really on the ropes in terms of available capital. With the approach of their current government not meeting any support from its creditors, it seems like we might see a historic event – a country exiting the euro.
Oil has made a 12% surge in the last six trading sessions on the back of smaller than expected inventories in the US. Next week will most likely see more dynamic movement, especially on Wednesday.
Monday 20.4.15 – Late on Sunday the NZD will be the first to offer a good trading opportunity with the country’s CPI announced at 10:45pm GMT.
Monday won’t have too many dynamic points, but the most likely to give us some volatility are speeches from the Canadian and Australian Central Bankers, Poloz and Stevens at 2:05pm and 4:30pm GMT.
Company earnings released: IBM, Morgan Stanley
Tuesday 21.4.15 – The minutes from Australia’s Monetary Policy Meeting will be publicly released at 1:30am GMT, providing the most noteworthy news for the Asian session.
Europe will be looking at the ZEW Economic Sentiment from Germany for further indications about the largest economy in the Eurozone.
Company earnings released: SAP AG, Sky, Verizon, Wal-Mart, Yahoo!
Wednesday 22.4.15 – Not the usual dynamic Wednesday, but there will be several announcements that can make waves.
CPI from Australia is first at 1:30am GMT, followed by the Bank Rate Votes for Great Britain. Crude Oil inventories will be the other key data bit from the day, coming at 2:30pm GMT.
Company earnings released: At&&T, Boeing, Coca-Cola Co., Facebook, Qualcomm, BHP Billiton, Tesco
Thursday 23.4.15 – Although we got the GDP number from China this week, investors and traders will tune in at 1:45am GMT for the Flash Manufacturing PMI data of the country.
We can name the day the Flash Manufacturing day for this and the two announcements from France and Germany about the same indicator at 7:00am and 7:30am GMT. The packed start of the European session also includes retail sales data from Britain.
The last data that might change sentiment during this day, especially for the USD and US indexes is the Unemployment Claims number, which comes out at 12:30pm GMT.
Company earnings released: 3M, Amazon, Eli Lilly & Co, General Motors, Google, Microsoft, PepsiCo, P&G, Starbucks
Friday 24.4.15 – The main event of the day will be Eurogroup Meetings, which will take place throughout the day. Should there be an interesting development from them regarding the Greece situation, there will most likely be a statement of interview with one of the larger power players and that might shake up markets.
Beside that there will be three other planned announcements. German Ifo Business Climate at 8:00am GMT, Core Durable Goods Orders from the US at 12:30pm GMT and a speech by Governor Poloz from the Bank of Canada.
Company earnings released: AstraZeneca, Siemens, Xerox
Our reading selections for this weekend:
Something that might turn into a big risk for Google. (TechCrunch)
What is the future after fossil fuels and when does that begin. You could look at this article as a prediction on the oil companies’ performance. (CNBC)
Large number of jobs added in the UK economy, reaching the levels from 2008. (BBC)
How $2 billion were made in 1:59m – the new teaser or trailer for the upcoming Star Wars movie has had an excellent reception. (Business Insider)
Some comfort for the new majority who read article after article on the web. (Quartz)