Market movers for the week ahead – Deutsche Bank

Analysts at Deutsche Bank suggest that the commencement of the two-day G20 finance ministers meeting should be the highlight on Monday, while the expected announcement by China's NPC for the PBOC governor role will also be closely watched.

Key Quotes

“Meanwhile the UK's David Davis and EU's Michal Barnier are due to meet in Brussels with the meeting bringing possible clues about an agreement on the terms of Brexit transition. It should be a fairly quiet start to the week for data with UK house prices data due overnight, followed by the January trade balance for the Euro area. There is no data due in the US however the Fed's Bostic is slated to speak in the afternoon.”

“Tuesday: Overnight we have the scheduled Chinese Prime Minister's press conference following the NPC. The main focus datawise in the morning will likely be on the February inflation report in the UK with CPI, RPI and PPI data all due. German PPI for February will also be released, while the March ZEW survey should also be closely watched. In the afternoon the Euro area consumer confidence reading for March is due out. Away from this President Trump is scheduled to meet with Saudi Crown Prince Mohammed bin Salman. Illinois will also hold a primary election for governor and congressional seats ahead of the midterms later in the year.”

“Wednesday: The big highlight on Wednesday is the FOMC meeting outcome at 6pm GMT. Shortly after that Fed Chair Powell will also deliver his first post-meeting press conference as Chair. Away from that it’s another fairly quiet day for data with January/February employment data and February public sector net borrowing data due in the UK, while in the US the Q4 current account balance and February existing home sales data will be released.”

“Thursday: Brexit should be a focus for markets on Thursday with EU leaders due to meet in Brussels to sign off on Brexit guidelines (possibly continuing through to Friday). Meanwhile it’s a busy day for data, highlighted by the release of the flash March PMIs in Japan, Europe and the US. Away from that we'll also have the BoE monetary policy meeting outcome. Other notable data releases on Thursday include March confidence indicators in France, the January current account balance reading for the Euro area, Germany's IFO survey for March, UK retail sales for February and weekly initial jobless claims, January FHFA house price index, February leading index and March Kansas City Fed PMI in the US. Late in the evening we'll also get the February CPI report in Japan. ECBspeak will also be a focus with Lautenschlaeger and Nouy due to speak at separate events. German Chancellor Merkel is also due to deliver a speech in parliament likely outlining her policy goals.”

“Friday: The most significant data on Friday comes in the US with flash February durable and capital goods orders data, along with February new home sales data. A number of Fedspeakers are also scheduled to speak including Bostic, Kashkari and Rosengren. The final day of the week also marks the deadline for the US government needing to pass a spending bill. Finally it’s worth noting that Italian parliament will reopen following the March 4th election.”