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The FxPro Analyst Team

UK Gross Domestic Product Expected to Be in Line with Consensus

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At 09:00 GMT, German Unemployment Change (Mar) is expected to be -15K against the previous -22K. Unemployment Rate s.a. (Mar) is expected to be 5.3% against the previous 5.4%. This number is expected to slip further after falling last month. The previous reading came in at the highest level in more than ten years. EUR traders will be closely following this data release.

At 09:30 GMT, UK Gross Domestic Product (YoY) (Q4) will be released and is expected to be unchanged from the previous reading, at 1.4%. Gross Domestic Product (QoQ) (Q4) is also expected to be unchanged at 0.4%. Mortgage Approvals (Feb) data will also be released at this time, with a consensus for 66.000K against 67.478K previously. The consensus is for a reading generally in line with expectations and previous releases so any deviation may spark a turn in market sentiment. GBP pair may see volatility around these data releases.

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At 13:00 GMT, German Harmonised Index of Consumer Prices (YoY) (Mar) will be released. The consensus is for 1.6% from 1.2% previously. This data is expected to pick up from the reading last month, which was affected by seasonal factors. Any deviation from the expected would cause a market reaction, as the figure is usually accurately predicted. The preliminary release shows an increase of 0.5% in consumer prices. EUR pairs could have positions opened or closed due to this data.

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At 13:30 GMT, US Personal Consumption Expenditures – Price Index (YoY) (Feb) is expected to be unchanged at 1.7%. Core Personal Consumption Expenditures – Price Index (MoM) (Feb) is expected to be 0.2% from 0.3% previously. Personal Consumption Expenditures – Price Index (MoM) (Feb) is expected to come in at 0.0% from 0.4% previously. Personal Income (MoM) (Feb) is expected to be unchanged at 0.4%. Personal Spending (Feb) is also expected to be unchanged at 0.2%. Core Personal Consumption Expenditures – Price Index (YoY) (Feb) is expected to be 1.6% from 1.5% previously. Continuing Jobless Claims (Mar16) is expected to be 1.875M against 1.828M previously. Initial Jobless Claims (Mar 23) is expected to come in at 230K against 229K previously. USD crosses may be heavily traded as a result of this data.

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At 13:30 GMT, Canadian Gross Domestic Product (MoM) (Jan) is expected to be unchanged at 0.1%. This data is expected to show that growth remains in expansion but barely so, after falling in H2 of 2017. CAD pairs may be moved by this release.

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At 14:45 GMT US Chicago Purchasing Managers’ Index (Mar) is expected to be 62.0 against a prior read of 61.9. The consensus is for a slight pickup in the index since the last release.

At 18:00 GMT, FOMC Member Harker is due to speak. Comments may result in moves in USD crosses.