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Welcome to the easyMarkets weekly outlook starting this Monday 17 April. We’ll be looking at the week’s key economic events on the financial calendar covering Monday to Thursday. Markets are waking up following the Easter holiday with key housing and jobs data coming from the US and inflation data from Europe and New Zealand.

Event: US Housing Data (March)

Date: Tuesday 18 April 2017 at 12:30 GMT

Markets affected: EUR/ USD, GBP/USD

Trending hashtags: #usd, #housing

Housing Starts and Building Permits data for March will be released on Tuesday in the US. The previous housing start change was 3% and February’s month-on-month figure was at 1.288 million. Previous month’s Building Permits saw a negative changed at -6.2% with a month-on-month reading of 1.213 million. The US housing market is in better shape than a few years ago with a shift from rental apartment buildings to single-family construction. However some analysts are still are not expecting to see figures anywhere near the boom years of the early 2000s.

Event: Europe Inflation Data

Date: Wednesday 19 April 2017 at 09:00 GMT

Markets affected: EUR/USD, EUR/GBP

Trending hashtags: #eur, #inflation, #cpi

The Eurozone Consumer Price Index data for March will be released on Wednesday. CPI (year-on-year) was at 1.5% in February with Core CPI coming in at 0.7%. The Eurostat survey is a snapshot of the price change of a basket of goods and services on a monthly and yearly basis and one of the key measures on inflation. Higher inflation tends to be positive for the euro as investors receive a better return on their common-currency holdings. The previous month’s CPI and Core CPI were both at 0.4% for February so euro bulls will be on the lookout for any improvements in the March figures released on Wednesday.

Event: New Zealand Consumer Price Index (Q1)

Date: Wednesday 19 2017 at 22:45 GMT

Markets affected: AUD/NZD, NZD/USD

Trending hashtags: #nzd, #cpi, #inflation

Statistics NZ will be releasing its first quarter Consumer Price Index for 2016. The last readings saw a 0.4% change from Q3 to Q4 of 2016, and an overall year-on-year change of 1.3%. This key inflation data that will be closely watched by the Reserve Bank of NZ that in November of last year dropped interest rates a quarter of a percent to 1.75%. This is still a relatively high rate compared to most of its trading partners that has kept the local currency, the kiwi, under pressure for the export-reliant nation.

Event: US Jobless Claims

Date: Thursday 20 April 2017 at 12:30 GMT

Markets affected: EUR/ USD, GBP/USD

Trending hashtags: #usd, #jobs

The number of new people filing for the unemployment benefit in the US was previously 234,000. This was a better result for the economy than the expected 245,000 giving further evidence to a strong jobs market in the US even with the low NFP number of 98,000 in March. Last week’s low claims figure was the third decline in a row and not too far from February’s multi-decade low of 227,000.

 

https://www.fxstreet.com/economic-calendar

https://www.bloomberg.com/view/articles/2017-04-04/housing-boom-is-anything-but-as-ownership-loses-appeal

http://www.cnbc.com/2017/04/13/us-weekly-jobless-claims-apr-8-2017.html

 

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