After two busy weeks, we should now have a relatively quiet one. G-20 developments were highly expected and should not be market moving. Expect less action than usual until the London cash open on Monday since there is a Bank holiday in Japan.
USD: Speeches are the highlight for the USD, with no data output due. Fomc’s Evans (Mon), Pres. Trump (Tue), FOMC’S Dudley (Tue), Yellen & Kashkari (Thur), Kaplan (Fri)
EUR: Slightly more on tap in the EU: a speech from Weidmann & wage growth (Mon), Current Account (Wed), Consumer Confidence (Thur) and finally on Friday there will be the closely eyed Flash PMI surveys.
GBP: UK inflation will be in focus on Tuesday when Feb CPI, PPI and RPI will be released. Other key UK data next week includes Thursday’s Retail Sales. However, PM May will be “Brexiting” anytime in the next 2 weeks so be on guard for that.
CAD: More of an interesting week for the Loonie with Wholesale sales (Mon), Retail Sales (Tue), BoC’s Schembri speech (Wed), and CPI (Fri).
Asia: Sentiment has improved in Asia and this will potentially assist the AUD. In Australia this week look out for the RBA Minutes (Tue) along with speeches from Deputy Governor Guy Debelle and Assistant Governor Luci Ellis.
For the Kiwi, the RBNZ meets (Wed) and although no change is expected for the OCR, we might see some effort to talk down the Nzd. The Global Dairy Auction (Tue) and February international trade numbers (Thur) are also due.
Going into the week, I remain bullish on Aud vs. Usd, Nzd, Cad. I remain bearish on Nzd vs. Jpy. I remain bearish on Cad vs. Gbp & Jpy. In other markets, Eurostoxx still looks strong while Crude is still weak and Copper is moving back up the ladder.