After last week terrible US Dollar performance remains to be seen if the current weakness persist or will the dollar get some bid. In coming week we should expect from both US and EU zone some big economic data. Also another big question that we must address is whether Draghi will get more aggressively to talk down the euro but in either case I don't think the market will give a s**t as long as there is no official announcement.Time for talk has passed no it's time for action and "whatever it takes" stance from ECB will not work this time anymore.

  • US Economic data:
  1. We start the week Monday with the US Retail Sales which have started to pick up after the harsh weather condition have fade away. For this release market expectation is expecting an increase to 0.8% from previous reading of 0.3%.
  2. Tuesday we have Janet Yellen speech in Stone Mountain and in New York and if she will sound as dovish as per last few speeches than we should expect the dollar pressure to continue.
  3. US inflation data will be released Tuesday: CPI figure: Expectation: 0.1%; Previous: 0.1%
  4. Wednesday we have some figures from the housing market The growth in the housing market has not been consistent recently, due to bad weather condition. Building Permits: Expectation: 1.00M; Previous: 1.01M:
  5. Thursday we have US Unemployment Claims strong growth boosted the labor market and caused a drop for unemployment benefits: Expectation 316K; Previous: 300K.

  • EU economic data:
  1. Tuesday we have the German ZEW Economic Sentiment which has fallen for 3 consecutive months to 46.6, from 55.7 in February. Market expectation for this release are also very pessimistic as investor confidence is still declining. Market expectation is for 46.3 reading.
  2. There are scheduled to speak several ECB members including Mario Draghi, but as we already saw last week no verbal intervention from ECB stuff stopped EURO from going higher so unless they came with something new don't expect much to happen.

We also have UK Unemployment rate which is expected to 7.1% as a sign of more stable labor market. And also the UK CPI inflation is expected to remain unchanged at 1.7%

Best Regards,
Daytrader21.
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