This week would be quite busy with a number of important data to be released in the US and in the Eurozone. These include unemployment figures at the EU, consumer confidence in the US, as well as announcements of interest rate decisions by the Fed and the ECB.
Check out our list of important events for the week of April 29-May 3:
Event: Consumer Price Index (YoY, Apr) – Germany
Date: April 29, 2013
Time: 12:00pm (GMT)
What It Is About and Why It’s Important
Not even Europe’s largest economy is immune to the region’s economic woes. It’s consumer price index, for example, has been on a 12-month low so far. Previously, it went down to 1.4% but is expected to go back up slightly to 1.5%.
Event: Unemployment Change (Apr) – Germany
Date: April 30, 2013
Time: 7:55am (GMT)
What It Is About and Why It’s Important
From a low of -14K (a positive sign) in its January unemployment figures, it has risen steadily in February and March to -3K to 13K, respectively. Things are expected to go positively this April, however, with a consensus of just 3K.
Event: Unemployment Rate (Mar) – EU
Date: April 30, 2013
Time: 9:00am (GMT)
What It Is About and Why It’s Important
It’s no longer news that the Eurozone is suffering from severely high unemployment. And while 2009-2011 figures have been mostly flat (albeit still high), the unemployment rate has risen steadily at the beginning of 2012 until today. There might be a little lull for March, however, as no change is expected from the previous month’s 12% rate.
Event: Consumer Confidence (Apr) – US
Date: April 30, 2013
Time: 2:00pm (GMT)
What It Is About and Why It’s Important
The US’ Consumer Confidence has yo-yoed so far over the past few months, starting with December’s 66.70, which dropped to 58.4 in January, then up to 68 in February, then down again to 59.70 in March. Only very little movement is expected for April, with a consensus of 59.5.
Event: Interest Rate Decision – US
Date: May 1, 2013
Time: 6:00pm (GMT)
What It Is About and Why It’s Important
While the Fed is expected to keep rates at 0.25%, the announcement may provide clues on its outlook of the economy. And this being an announcement of the world’s biggest economy, traders must not miss this. Traders of the EUR/USD must keep close watch in particular because it might end the sideways movement we’ve seen from the pair last week.
Event: Interest Rate Decision – EU
Date: May 2, 2013
Time: 11:45am (GMT)
What It Is About and Why It’s Important
The ECB has sent out signals that it might cut interest rates by 25bps this month from 0.75% to 0.50%. Again, those trading the EUR/USD (in fact those who have currencies paired with the EUR) should not miss this event.
Event: Unemployment Rate (Apr) – US
Date: May 3, 2013
Time: 12:30pm (GMT)
What It Is About and Why It’s Important
Although the US Unemployment Rate has yet to return to pre-2008 levels, it has dropped steadily from 2011. Now although it isn’t expected to move from the previous 7.6%, no change is still better than a rise in the figure.
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