4 May 2015
RBA, UK election, US NFP in focus
FXStreet (Bali) - Franklin Wang, Global Market Strategist at Nomura, breaks down the key events for the week ahead, emphasizing the RBA rate decision on Tuesday, the UK election on Thursday, and the US Non-Farm Payrolls report on Friday.
Key Quotes
"In the US, we will receive trade balance data for March on Tuesday; we expect imports to rebound given that disruptions at West Coast ports ended in February. On Friday, we will receive nonfarm payrolls for March; we forecast a 205K increase in private payrolls and a 5k increase in government jobs."
"In Europe, the UK general election is on Thursday with an unusually high level of uncertainties surrounding its outcome. Otherwise, German industrial production will be released on Friday; we expect an increase of 0.1% m-o-m in March after growth of 0.2% in February. UK trade balance will also be released on Friday."
"Elsewhere in the world, the RBA will hold its next monetary policy meeting on 5 May. Our view remains that the Bank will cut its policy rate by 25bps. We also believe there might be verbal intervention to talk down the value of the AUD."
"Chinese trade balance data will be released on Thursday; we expect exports in April to return to positive growth of 2.5% y-o-y, following distortions from the Lunar New Year holiday. Therefore, we expect the trade balance to widen substantially from the low reading in March."
Key Quotes
"In the US, we will receive trade balance data for March on Tuesday; we expect imports to rebound given that disruptions at West Coast ports ended in February. On Friday, we will receive nonfarm payrolls for March; we forecast a 205K increase in private payrolls and a 5k increase in government jobs."
"In Europe, the UK general election is on Thursday with an unusually high level of uncertainties surrounding its outcome. Otherwise, German industrial production will be released on Friday; we expect an increase of 0.1% m-o-m in March after growth of 0.2% in February. UK trade balance will also be released on Friday."
"Elsewhere in the world, the RBA will hold its next monetary policy meeting on 5 May. Our view remains that the Bank will cut its policy rate by 25bps. We also believe there might be verbal intervention to talk down the value of the AUD."
"Chinese trade balance data will be released on Thursday; we expect exports in April to return to positive growth of 2.5% y-o-y, following distortions from the Lunar New Year holiday. Therefore, we expect the trade balance to widen substantially from the low reading in March."