Volatility has been off the charts this week, driven by headline-grabbing events that have sent markets swinging from one extreme to the other. The 90-day pause on reciprocal tariffs, paired with Trump’s decision to maintain steep 125% duties on China, has kept investors on edge.
Nevertheless, Thursday could bring a sense of familiarity, as key macroeconomic indicators return to the spotlight. The U.S. March CPI release will attract investors attention, as Trump’s trade war constitutes the main driver of inflationary worries in the economy, shaping the expectations of monetary policy adjustments. On top of that, jobless claims data is due, and several Fed officials are also set to speak.
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Economic Calendar for Today:
08:30 AM GMT, United Kingdom - BOE Credit Conditions Survey
09:15 AM GMT, Euro Zone - ECB Supervisory Board Member Tuominen Speaks
12:00 PM GMT, Germany - German Buba Vice President Buch Speaks
12:30 PM GMT, United States - Employment Data for March:
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Real Earnings: previous 0.1% MoM;
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Jobless Claims 4-Week Avg.: previous 223.00K;
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Initial Jobless Claims: forecast 223K; previous 219K;
12:30 PM GMT, United States - Inflation Data for March:
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Yearly CPI: forecast 2.5% YoY; previous 2.8% YoY;
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Monthly CPI: forecast 0.1% MoM; previous 0.2% MoM;
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Yearly Core CPI: forecast 3.0% YoY; previous 3.1% YoY;
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Monthly Core CPI: forecast 0.3% MoM; previous 0.2% MoM;
12:30 PM GMT, United States - Employment Data:
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Continuing Jobless Claims: forecast 1,880K; previous 1,903K;
12:30 PM GMT, Canada - Building Permits for February:
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forecast -0.4% MoM; previous -3.2% MoM;
02:00 PM GMT, United States - Fed Schmid Speaks
02:00 PM GMT, United States - FOMC Member Bowman Speaks
04:00 PM GMT, United States - WASDE Report
04:00 PM GMT, United States - Fed Goolsbee Speaks
04:30 PM GMT, United States - FOMC Member Harker Speaks
05:00 PM GMT, United States - 30-Year Bond Auction:
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previous 4.623%;
06:00 PM GMT, United States - Federal Budget Balance for March:
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forecast -115.9B; previous -307.0B;
08:30 PM GMT, United States - Reserve Balances with Federal Reserve Banks:
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previous 3.427T;
08:30 PM GMT, United States - Fed's Balance Sheet:
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previous 6,723B;
10:30 PM GMT, New Zealand - PMI Data for March:
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Business NZ PMI: previous 53.9;
