Oil continues to be unpredictable
This week was, as expected, saw limited action both because it’s shorter due to holidays and perhaps it became too eventful for traders to constantly turn their attentions to one crisis after another. Jobs numbers that just came out will influence the U.S. session, but its full impact will be delayed and spread across Monday and Tuesday due to the holidays.
It’s seen as the end of the lull before the storm. Although next week starts with a Bank holiday across most of Europe and China, this will provide plenty of fodder for the next round of battles across the currency seas and the mountains of commodities. The euro is hovering around 1.08-1.09 after the prolonged drop and traders are on stand by to see where the next big push will come from. Oil will most likely continue to be more choppy with many factors influencing its changing fortunes.
Monday 6.4.15 – Easter Monday across Europe and markets in France, Germany and England will be closed. It’s also a Bank holiday in China. Still, there will be some actionable events – Spanish Unemployment Change will come out at 7am GMT with it possibly influencing the euro. At 2pm GMT the U.S. will release the ISM Non-Manufacturing PMI, with possible implications on the dollar and its crosses.
Tuesday 7.4.15 – A day with more focus on Australia and Britain. The aussies have several announcements starting off at 1:30am GMT with their Retail Sales figures. At 4:30am GMT the Royal Bank of Australia will uncover their cash rate and will make a statement, potentially influencing the AUD/USD pair.
The only worthwhile bit of economic data from Europe will be the Services PMI from Britain at 8:30am GMT.
Wednesday 8.4.15 – Relatively calm day that will have an early start with Japan’s Monetary Policy Statement and press conference coming in the early hours – both don’t have a fixed starting time.
A potentially interesting point will be the FOMC Meeting Minutes at 6:00pm GMT. Although they won’t come with a press conference and are effectively a reflection of what already happened, they could hold some clues about the thinking behind future rate decisions.
Thursday 9.4.15 – Focus will be on the GBP with the Official Bank Rate coming out at 11:00am GMT (if there’s a change in the rate, an official statement will be issued). 12:30pm GMT will be the other time when there could be some movement with the Canadian Building Permits being made public alongside the, arguably more important Unemployment Claims from the U.S.
Friday 10.4.15 – CPI from China is first on the agenda at 1:30am GMT. Manufacturing production from Britain will follow at 8:30am GMT. The afternoon has one bright spot for traders with Canadian Employment Change and Unemployment Rate finishing the week.
Here are our longer reads for this weekend:
A debate is raging about quantitative easing and the effects of saving the current generation (problem?) will have on future generations. Although it can’t be discussed in a short article Zerohedge have one that, at the very least, provides food for thought. (Zerohedge)
Remember graphene? The wonder material that would change everything and provide bendy smartphones, watches and.. bendy everything. Well, something is coming out of the whole thing in terms of a product, finally. Is the revolution on again? (The Independent)
Oil was again one of the most volatile instruments this last week with increasing supply and the conflict in Yemen dominating the headlines. Context is valuable ally when reading the news and here is one piece of it. (Janes Defence)
New industry changing companies are constantly coming up and they could make waves in the near future, alone or as part of one of the more established tech giants. We came across this nice analysis of the companies leading the charge of online music distribution. Check out the end of the infographic 😉 (The Guardian)
An intriguing IPO happened this week. A company that has no profits went public and even had a 30% jump when trading started. Go Daddy is also available for trading the Trading 212 PRO platform so you can make your own (put or) call on how they’ll perform. (TechCrunch)