The Day AheadMacro Data to Watch:
US: April Kansas City Fed Services Index – May give insight into regional business sentiment.
UK: April GfK Consumer Confidence – Early read on sentiment post-budget.
March Retail Sales – Important for GBP and rate expectations.
Japan: April Tokyo CPI – Key inflation indicator ahead of BoJ policy.
France: April Business Confidence – Watch for any signs of slowing Eurozone momentum.
Canada: February Retail Sales – Impacts CAD, potential rate path hints.
Central Bank Watch:
BoE’s Greene speaks – May offer clues on UK rate path amid inflation stickiness.
Earnings to Watch (Market Movers):
US: AbbVie, Colgate-Palmolive, HCA Healthcare, Charter Communications, Schlumberger, Centene, LyondellBasell
Focus on healthcare, consumer staples, and energy names for sector sentiment.
Asia: Ping An Insurance, Keyence, Advantest – Key bellwethers for China and Japan.
This lineup could drive volatility across FX (GBP, JPY, CAD), equity indices, and sector ETFs. Watch sentiment shifts based on inflation data and earnings surprises.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Economicdata
The Day AheadThursday, April 24 – Market Focus
US Economic Data:
Chicago Fed National Activity Index (March)
Durable Goods Orders
Existing Home Sales
Kansas City Fed Manufacturing (April)
Initial Jobless Claims
International Data:
Japan PPI Services (March)
Germany Ifo Business Climate (April)
France Consumer Confidence (April)
EU New Car Registrations (March)
Central Bank Speakers:
Fed: Kashkari
ECB: Nagel, Simkus, Rehn, Lane
BoE: Lombardelli
Earnings Highlights:
Alphabet, P&G, T-Mobile, Merck, PepsiCo, Gilead, Union Pacific, Comcast
Sanofi, BNP Paribas, SK Hynix, Intel, Dassault Systèmes
Bristol-Myers, Fiserv, Digital Realty, Freeport-McMoRan, Keurig Dr Pepper
Eni, Nasdaq, L3Harris, Vale, PG&E, Orange, Valero, Nokia, Dow
US Treasury Auction:
7-Year Note
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day AheadWednesday 23rd April 2025
Key economic data includes April flash PMIs for the US, UK, Japan, Germany, France, and the Eurozone. These are important indicators of economic momentum and inflation pressures, with potential impact on FX, rates, and equities. In the US, March new home sales will provide a read on housing market strength. The UK reports March public finances, which could influence gilt markets and sterling. In the Eurozone, February trade balance and construction output data are on deck, offering insights into trade dynamics and sector-specific activity.
Central bank focus is high. The Fed releases its Beige Book and features speakers including Goolsbee, Musalem, Waller, and Hammack. Markets will be listening closely for signals on rate expectations and regional economic trends. From the ECB, Knot, Villeroy, and Lane are scheduled to speak, potentially influencing eurozone rate expectations. From the Bank of England, Bailey, Pill, and Breeden will offer comments that could affect sterling and rate outlooks.
Earnings are heavy and span key sectors. Notable names reporting include IBM, ServiceNow, Texas Instruments, Lam Research, Boeing, GE Vernova, Chipotle, O’Reilly Auto, Thermo Fisher, Boston Scientific, NextEra Energy, Newmont, Philip Morris, AT&T, General Dynamics, and Volvo. This mix provides important reads across tech, industrials, healthcare, and consumer sectors.
On the fixed income side, the US Treasury will auction 2-year floating rate notes and 5-year notes. Watch for yield curve movements and demand signals, particularly given the dense schedule of Fed speakers.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day Ahead Tuesday 22 April - Macro Data to Watch
US
Philadelphia Fed (non-manufacturing) – Insight into regional services sector strength.
Richmond Fed Index – Regional manufacturing pulse; can affect rate expectations.
Business Conditions – Sentiment read, relevant for short-term economic momentum.
Eurozone
Consumer Confidence (April) – A leading indicator for consumer spending.
Debt-to-GDP (2024) – Helps assess fiscal sustainability/risk premium.
Canada
March Industrial Product Price Index & Raw Materials Price Index – Key inflation inputs, may influence BoC policy outlook.
Central Bank Speakers (Potential Market Movers)
Fed
Jefferson, Kashkari, Harker – Watch for any guidance on rate cuts/timing.
ECB
Knot speaks; ECB’s Survey of Professional Forecasters also out – Insight into inflation/monetary policy expectations.
Earnings (Market Impact: High)
Big Names Reporting:
Tesla – Retail/institutional focus; moves broad market + sentiment.
SAP – Tech/enterprise software sector read.
GE, RTX, Lockheed Martin, Northrop Grumman – Defense/industrial tone-setters.
Verizon, Intuitive Surgical, Danaher, Chubb – Broad sector coverage; healthcare, telecom, insurance.
Elevance Health, MSCI, Moody's, Equifax – Key reads on health insurers, financials, and credit conditions.
Enphase Energy, EQT, Baker Hughes – Energy sector sentiment, especially in renewables/oil services.
US Treasury Auctions
2-Year Note Auction – Short-end yield focus; critical for curve shape and rate expectations.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day Ahead Thursday, April 17 – Market Snapshot
In the US, traders will be watching March housing starts and building permits for signs of real estate momentum, while initial jobless claims and the Philly Fed index offer fresh insight into the labour market and regional manufacturing sentiment.
Overseas, Japan reports its March trade balance, Germany releases its March PPI—a key inflation gauge—and Australia’s labour force survey will be crucial for AUD positioning. Canada’s February international securities transactions could offer clues on capital flows.
Central banks are in focus with the ECB rate decision front and centre, which could move EUR pairs. Fed speakers Schmid and Barr are also on the radar for any policy tone shifts, while BoJ’s Nakagawa and the Bank of England’s Q1 credit conditions survey could influence JPY and GBP, respectively.
On the earnings front, TSMC will set the tone for semiconductors, and Netflix gives a look into streaming and consumer sentiment. Key financials like UnitedHealth, American Express, Charles Schwab, Blackstone, and Truist Financial all report, along with DR Horton for housing and ABB for the global industrial read.
The US also auctions 5-year TIPS, which could move inflation expectations and impact rate-sensitive trades.
The Day Ahead
Key Economic Data Releases
🇺🇸 U.S.
• March Retail Sales – Consumer spending trend, high market impact.
• Industrial Production & Capacity Utilization – Signals strength of the manufacturing sector.
• April NY Fed Services Index – Regional business activity snapshot.
• NAHB Housing Market Index – Homebuilder sentiment.
• Feb Business Inventories – Impacts GDP revisions.
• Total Net TIC Flows – Foreign capital flows into U.S. assets.
🇨🇳 China
• Q1 GDP – Key for global growth outlook.
• March Industrial Production, Retail Sales, Home Prices, Property Investment – Domestic demand & real estate health.
🇬🇧 UK
• March CPI & RPI, Feb House Price Index – Inflation indicators ahead of BoE moves.
🇯🇵 Japan
• Feb Core Machine Orders – Business capex proxy.
🇮🇹 Italy / 🇪🇺 Eurozone
• Feb Current Account Balances – External demand & capital flow indicators.
🇳🇿 New Zealand
• Q1 CPI – Inflation print crucial for RBNZ rate expectations.
________________________________________
Central Banks
• 🇨🇦 Bank of Canada Rate Decision – Watch for policy tone amid inflation shifts.
• 🇺🇸 Fed Speakers: Powell, Cook, Hammack – Any hints on rate cuts or economic outlook closely watched.
________________________________________
Earnings to Watch
• Tech & Industrials: ASML, Sandvik, Sartorius
• Healthcare: Abbott Laboratories
• Transport & Real Estate: Prologis, CSX
• Financials: US Bancorp, Nordea
• Consumer: Heineken
• Materials: Alcoa
High-impact guidance or surprises could trigger sector moves.
________________________________________
Bond Auctions
• 🇺🇸 US 20-Year Bond Auction – Monitor for demand; impacts yields and USD.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day Ahead Tuesday, April 15 – Key Market Events
US Data:
Empire Manufacturing Index (April): Early read on factory activity.
Import and Export Prices (March): Trade-side inflation indicators.
UK Data:
Average Weekly Earnings (Feb)
Unemployment Rate (Feb)
Jobless Claims Change (March) Impact: Moves GBP based on labor market strength or weakness.
Germany & Eurozone:
ZEW Surveys (April): Investor sentiment on economy.
Germany Wholesale Price Index (March)
Eurozone Industrial Production (Feb) Watch EUR, especially if sentiment or output surprises.
Italy:
General Government Debt (Feb): Less market-moving unless sharply changes.
Canada:
Consumer Price Index (March): Key for CAD. Major inflation read.
Housing Starts, Existing Home Sales, Manufacturing Sales: Supportive data, secondary to CPI.
Central Bank Events:
Fed’s Bostic speaks: Watch for comments on rates or inflation.
ECB Bank Lending Survey: Shows credit conditions, potential ECB signal.
Earnings Reports:
Bank of America, Citigroup: Key for financial sector outlook.
Johnson & Johnson: Healthcare read.
Interactive Brokers: Trading activity snapshot.
United Airlines: Travel demand indicator.
Albertsons: Consumer and grocery sector trends.
What Traders Should Watch:
USDCAD: Canadian CPI is the main mover.
GBPUSD: UK jobs data could push sterling.
EURUSD: ZEW and industrial production could drive euro.
Equities: Bank earnings will impact risk sentiment.
Yields: Inflation data and central bank speak may shift rate expectations.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day Ahead Key Data Releases:
US: NY Fed 1-year inflation expectations (March) – Closely watched for signs of shifting inflation trends that could impact Fed rate outlook.
China: Trade Balance (March) – Insight into global demand and China’s export strength; potential impact on commodities and risk sentiment.
Japan: Capacity Utilization (Feb) – Secondary data, but relevant for assessing industrial activity in Japan.
Central Bank Speakers:
Fed’s Harker & Waller – Any hints on rate cuts, inflation stance, or economic outlook could move markets, especially USD and rates.
Earnings to Watch:
Goldman Sachs (GS) – Key read on investment banking, trading, and overall market health. Could set tone for broader financials.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day Ahead Friday, April 11 – Market Movers
Macro Data Releases
US:
March PPI: Key inflation metric; will shape expectations for upcoming Fed decisions.
April University of Michigan Sentiment: Critical for gauging consumer confidence and inflation expectations—could move Treasuries and USD.
UK:
February GDP (m/m): Signals short-term growth trends; implications for GBP and BoE policy stance.
Japan:
March M2, M3: Measures of monetary supply; minor market mover but relevant for BoJ watchers.
Germany:
February Current Account Balance: Trade-driven indicator; may influence EUR depending on surplus/deficit surprise.
Central Bank Watch
Fed’s Williams and Musalem speak:
Markets will watch closely for any guidance on rate trajectory or balance sheet.
Hawkish/dovish tone could directly impact bond yields and USD positioning.
Earnings – Big Banks Lead Q1 Reports
JPMorgan, Morgan Stanley, Wells Fargo, BlackRock
Key Focus for Traders
Paired with Fed speak, inflation data (PPI, Michigan inflation expectations) could drive rate volatility and USD.
Equity rotation within financials is underway—watch credit-sensitive and trading revenue trends.
FX: EUR and GBP are at risk from economic surprises; potential moves are tied to relative growth and trade flows.
The Day Ahead Key Economic Data
US:
March CPI – Major inflation gauge, key for rate expectations
Initial Jobless Claims – Labor market health
Federal Budget Balance – Fiscal position
China:
March CPI & PPI – Inflation trends, key for global commodities
UK:
March RICS House Price Balance – Real estate sentiment
Japan:
March PPI & Bank Lending – Inflation and credit growth
Italy:
Feb Industrial Production – Eurozone manufacturing read
Canada:
Feb Building Permits – Construction and housing activity
Nordics:
CPI (Denmark, Norway), Sweden GDP Indicator – Regional inflation and growth check
Central Bank Speakers
Fed: Logan, Goolsbee, Harker – Potential rate path signals
BoE: Breeden – Insight into UK monetary policy stance
Earnings
Tesco, CarMax, Fast Retailing – Retail sector insights
Auctions
US 30-Year Bond Auction – Watch for demand/sentiment on long-term rates
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day Ahead Wednesday, April 9 – Market Highlights
Economic Data:
US February Wholesale Trade Sales – Insight into inventory and business spending; may impact GDP outlook.
Japan March Consumer Confidence – Indicator of consumer sentiment; could influence JPY and equities.
Japan Machine Tool Orders – Key for industrial activity; relevant for JPY and manufacturing stocks.
Central Banks:
FOMC Meeting Minutes – Closely watched for clues on Fed’s rate path; could move Treasuries, USD, and equities.
Fed’s Barkin Speaks – May offer fresh policy signals.
BoJ Governor Ueda Speaks – Comments could affect JPY and Japanese bonds.
ECB’s Knot and Cipollone Speak – Potential impact on EUR if policy views are signaled.
RBNZ Rate Decision – Markets expect a hold; tone of statement may move NZD.
Earnings:
Seven & i Holdings – Insight into Japanese retail and consumer spending.
Delta Air Lines – Early look at travel demand and input costs; relevant for transport and consumer sectors.
Constellation Brands – Watch for trends in consumer demand and margins.
Auctions:
US 10-Year Note Auction – Key for rate sentiment; demand could impact yields and broader market tone.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day AheadKey Data Releases
US: March NFIB Small Business Optimism Index – gauge of small business sentiment, could hint at future economic activity and inflation pressures.
Japan:
March Economy Watchers Survey – frontline view of economic trends.
February BoP (Balance of Payments): Current account & trade balance – impacts yen and risk sentiment.
France: February trade and current account balances – minor euro impact unless surprise.
Central Bank Speakers
Fed: Daly – watch for comments on rate path or inflation risks.
ECB: Holzmann, Guindos, Cipollone – possible euro movement on hawkish/dovish tones.
BoE: Lombardelli – any forward guidance on rates may move GBP.
Earnings
Samsung – bellwether for tech and semis; relevant for risk sentiment in Asia.
Walgreens Boots Alliance – watch for US consumer health and retail trends.
Fixed Income
US: 3-Year Note Auction – important for yield curve dynamics and short-end demand.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day AheadKey Data Releases (Market Moving Potential)
US – February Consumer Credit
Insight into consumer borrowing trends – potential impact on USD and interest rate expectations.
China – March Foreign Reserves
Watch for signals on capital flows and yuan (CNY) stability.
Japan – February Labor Cash Earnings, Leading & Coincident Indexes
Wage data affects inflation outlook – key for JPY and BoJ policy watchers.
Germany – February Industrial Production & Trade Balance
Vital for assessing Eurozone growth momentum – may impact EUR.
Eurozone – February Retail Sales
Consumer activity in focus – important for ECB policy direction.
Central Bank Watch
Bank of Canada – Business Outlook Survey
Could move CAD if sentiment suggests rate shift ahead.
ECB – Cipollone Speech
Monitor for clues on rate path or balance sheet policy – relevant to EUR trades.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day Ahead US Jobs & FED Powell speech US March Jobs Report
Most important release this week.
Strong report boosts the dollar and bond yields
Weak report supports stocks and pressures the dollar
Canada March Jobs Report
Strong numbers lift the Canadian dollar
Weak numbers weigh on CAD
Germany, France, Italy Data
Includes factory orders, industrial production, and retail sales
Weak data puts pressure on the euro
Strong data supports the euro
Japan February Household Spending
Low spending signals continued Bank of Japan easing, weakens the yen
Higher spending may support the yen
UK March Car Sales and Construction PMI
Positive surprises could lift the pound
Sweden March CPI
Hot inflation could delay rate cuts and support the krona
Cooler CPI may lead to SEK weakness
Central Bank Watch
Fed’s Powell and Barr Speaking
Hawkish tone strengthens the dollar and lifts yields
Dovish comments could boost risk assets and weaken the dollar
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day Ahead Economic Data Releases (Market Impact)
US:
March ISM Services PMI – Key gauge of economic activity in the services sector. A higher-than-expected number could fuel rate hike concerns.
February Trade Balance – Trade deficit/surplus could influence USD sentiment.
Initial Jobless Claims – A lower figure may strengthen USD as it signals a strong labor market.
UK:
March Official Reserves Changes – Could impact GBP if there are significant shifts.
China:
March Caixin Services PMI – A strong reading could boost market sentiment, supporting risk assets.
Italy & Eurozone:
March Services PMI (Italy) & February PPI (Eurozone) – Weak data could reinforce ECB rate cut expectations, affecting EUR.
Canada:
February International Merchandise Trade – Affects CAD; trade surplus could strengthen the currency.
Switzerland:
March CPI – Inflation trends impact SNB policy expectations and CHF.
Central Bank Events (Market Moving)
US Fed Speakers (Jefferson, Cook) – Any hints on future rate hikes/cuts will drive USD and bond markets.
ECB March Meeting Account – Insight into ECB’s rate path; dovish tone may weaken EUR.
BoE March DMP Survey – Expectations on inflation and growth, potentially influencing GBP.
Geopolitical Event
NATO Foreign Ministers Meeting (April 3-4) – Any geopolitical developments could impact risk sentiment, affecting oil prices, defense stocks, and safe-haven assets.
Trading Relevance
USD: High impact from ISM Services PMI, jobless claims, and Fed speeches.
EUR: ECB minutes and Eurozone PPI could drive movement.
GBP: BoE survey and UK reserves data in focus.
CAD: Trade balance key for CAD direction.
CHF: Inflation print may influence SNB rate expectations.
Risk Sentiment: Watch China PMI and NATO meeting for broader market impact.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day AheadWednesday, April 2
Data Releases: US March ADP report, February factory orders, Japan March monetary base, France February budget balance.
Central Banks: Speeches from Fed’s Kugler, ECB's Schnabel, and Escriva.
Trump Tariff Announcement: Trump’s team is finalizing options for a 4 p.m. announcement, considering a tiered system with flat rates or a customized approach.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day Ahead Key Events for Tuesday, April 1, 2025
Economic Data Releases:
US: ISM Manufacturing Index, Construction Spending, JOLTS Job Openings, Vehicle Sales
China: Caixin Manufacturing PMI
Japan: Tankan Survey, Jobless Rate, Job-to-Applicant Ratio
Italy: Manufacturing PMI, Car Sales, Unemployment Rate, Budget Balance
Eurozone: CPI (Inflation), Unemployment Rate
Canada: Manufacturing PMI
Central Banks:
Fed: Barkin speaks
ECB: Lagarde & Lane speak
BoE: Greene speaks
RBA: Holds rates at 4.1%
Other:
US House Special Elections in Florida (Could impact markets)
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day Ahead Key Economic Data & Events – March 31
US: Chicago PMI, Dallas Fed manufacturing index
China: Official PMIs (Manufacturing & Services)
UK: Lloyds Business Barometer, Consumer Credit, M4 (Money Supply)
Japan: Industrial Production, Retail Sales, Housing Starts
Germany: CPI, Retail Sales, Import Prices
Italy: CPI
Central Banks: ECB’s Panetta & Villeroy speak
Relevance to Trading:
US, China, and Germany data impact equities, bonds, and FX (USD, CNY, EUR).
Inflation data (CPI) from Germany & Italy could influence ECB policy expectations.
PMI & industrial production data provide insights into global economic health.
ECB speakers may signal policy direction, affecting EUR volatility.
The Day Ahead: Market Focus & Key EventsKey Market Events – Friday, March 28
U.S. Data:
February PCE (Core & Headline): Key Fed inflation gauge—high impact on rate expectations.
Personal Income & Spending: Consumer strength insights.
March Kansas City Fed Services Activity: Regional business sentiment.
Europe:
UK February Retail Sales: Consumer demand check.
Germany March Unemployment, April GfK Consumer Confidence: Labor market & sentiment indicators.
France March CPI, PPI: Inflation signals.
Italy March Consumer, Manufacturing, & Economic Sentiment + Industrial Sales & PPI: Growth outlook.
Eurozone March Economic Confidence: Broad sentiment gauge.
Canada:
January GDP: Growth momentum ahead of BoC policy decisions.
Central Banks:
Fed’s Barr & Bostic Speeches: Potential rate clues.
ECB Consumer Expectations Survey: Inflation & policy sentiment.
Trading Focus:
PCE data → USD, Treasuries, equities move on inflation implications.
Retail sales, GDP → FX volatility (GBP, CAD).
Confidence & inflation prints → EUR crosses & bond yields.
Fed/ECB speakers → Interest rate expectations shift.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day Ahead: Market Focus & Key Events Macro Data Releases:
US: February pending home sales, advance goods trade balance, wholesale inventories, March Kansas City Fed manufacturing activity, initial jobless claims
China: February industrial profits
Japan: March Tokyo CPI
Eurozone: February M3 money supply
Central Bank Speakers & Policy Updates:
Fed: Barkin speaks
BoJ: March meeting summary of opinions
ECB: Guindos, Villeroy, Wunsch, Escriva, Schnabel speak
BoE: Dhingra speaks
Norges Bank: Rate decision
Earnings Watch:
H&M, Lululemon
Fixed Income Auctions:
US Treasury: 7-year Notes
Other Notable Reports:
US CBO releases The Long-Term Budget Outlook: 2025 to 2055
Market Impact Considerations:
FX: Fed and BoE commentary could drive volatility in GBP/USD, while Norges Bank’s decision may influence EUR/NOK.
Equities: H&M and Lululemon earnings could impact retail sentiment.
Bonds: The 7-year Treasury auction and US macro data may guide Treasury yields.
Commodities: China’s industrial profits and Japan’s CPI could influence risk sentiment and commodity demand.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day AheadWednesday March 26
Data: US February durable goods orders, UK February CPI, RPI, January house price index, France March consumer confidence, Australia February CPI
Central banks: Fed's Musalem and Kashkari speak, ECB's Villeroy and Cipollone speak, BoC summary of deliberations from the March meeting
Earnings: Dollar Tree, RENK
Auctions: US 2-yr FRN, US 5-yr Notes
Other: US CBO Federal Debt and the Statutory Limit report, UK spring statement
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day Ahead Tuesday March 25
Data: US March Conference Board consumer confidence index, Richmond Fed manufacturing index, business conditions, Philadelphia Fed non-manufacturing activity, January FHFA house price index, February new home sales, China 1-yr MLF rate, Japan February PPI services, Germany March Ifo survey, EU27 February new car registrations
Central banks: Fed’s Williams and Kugler speak, ECB's Kazimir, Nagel, Holzmann and Vujcic speak
Auctions: US 2-yr Notes
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day Ahead Tuesday March 18
Data: US February industrial production, capacity utilisation, building permits, housing starts, import and export price index, March New York Fed services business activity, Japan January core machine orders, Tertiary industry index, February trade balance, Germany March Zew survey, Italy January trade balance, Eurozone March Zew survey, January trade balance, Canada February CPI
Central banks: ECB’s Rehn and Escriva speak
Earnings: Xiaomi, XPeng
Auctions: US 20-yr Bond
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.