Weekly Financial Market events review

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The new business week, which is the 17th one in 2019, is one day shorter for European financial markets and especially for the European equity market, due to a business holiday on Easter Monday, unlike the American one, with the US stock market having a standard business week. Yesterday, during the European Tuesday trading morning on April 23, 2019 at 11:03 CET the EUR/USD currency pair traded at a mutual exchange rate of US$1.125 per EUR, with USD strengthening by 0.04% against the EUR.

This week investors expect the following major events that could affect the trend of global financial markets:

IFO Business Climate Index

This index is a key business sentiment indicator in Germany. The data, which are collected ┬ámonthly throughout the year, will be published on Wednesday, April 24, 2019 at 10.00 CET. The index is a very important indicator of further economic developments in the Eurozone, where Germany accounts for approximately a quarter of the Eurozone’s entire GDP.

Decision on Interest rates in Japan

On Thursday, April 25, 2019, the central bank of Japan, the Bank of Japan (BoJ), will decide on interest rates. According to analysts, it is highly probable that the BoJ will keep interest rates at their current level. The current rate is so-called negative interest rate of – 0.10% p.a.

Unemployment Rate in Spain

Spanish unemployment is currently at its lowest level in 10 years, but in comparison with very low unemployment, for example, in the Czech Republic, Spain shows a 14.1% unemployment rate in January 2019. In 2013, the total unemployment rate in Spain was as high as 27 percent. The report on the current state of unemployment in Spain will be published on Thursday, April 25, 2019 and, according to analysts, it will have a moderate impact on the volatility of the Euro (EUR).

GDP of the United States of America

On Friday, April 26, 2019, during the European afternoon (at 14:30 CET), one of the major economic data of the global economy will be reported, namely Gross Domestic Product (GDP) in the US. This indicator of total goods and services production shows the state of the US economy and is the most comprehensive measure of economic development and provides a key insight into the prediction of a possible US dollar trade trend.

Consumer Confidence in the US

On Friday, April 26, 2019 at 16:00 CET, The University of Michigan (UoM ) will publish the US Consumer Confidence Index data. This index assesses consumer attitudes and buying intentions. The declining level of consumer confidence has a negative impact on the development of the US dollar exchange rate and subsequently in the US stock market and especially the global commodity market.

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