Monday, April 10 Despite the fact that the macroeconomic calendar on Monday is completely empty due to the celebration of Easter in some countries, it will be extremely difficult to call the beginning of the trading week calm. Since the report of the United States Department of Labor Non-Farm Payrolls was published on a non-working day, its content will be played by the market on Monday. It is even possible to open markets with a noticeable gap. Tuesday, April 11 On Tuesday, all the attention of the markets will be focused on retail sales in the eurozone, the rate of decline of which should slow down from -2.3% to -1.5%. This will allow the single European currency to strengthen its position somewhat. And along with it, other currencies will grow against the dollar. Wednesday, April 12 The first thing to pay attention to on Wednesday is the producer price index in Japan, which is likely to decline from 8.2% to 7.5%. And since we are talking about an important indicator for inflation, its dynamics clearly indicates a slowdown in consumer price growth. And this, in turn, will bury all hopes for a possible increase in the refinancing rate of the Bank of Japan. So from the very opening of trading, the yen will be under some pressure. The main event of the week will be the publication of inflation data in the United States, which will further undermine the dollar's position. Analysts expect inflation to slow from 6.0% to 5.8%. And this increases the likelihood of an early transition of the Federal Reserve System to monetary policy easing. Against this background, the dollar may well fall to new local lows. Thursday, April 13 The labor market data published on Thursday in Australia will be ignored, as the unemployment rate should remain unchanged (3.5%). But the data on industrial production in the UK will be of particular interest: the rate of their decline may slow down from -4.3% to -4.0%, which will give the pound even more confidence. However, the growth of the pound will be limited by the precarious position of the single European currency, which will be under pressure, since the growth rate of industrial production in the eurozone, amounting to 0.9%, should be replaced by a decline of -0.2%. But the data on the producer price index in the United States after the publication of inflation statistics no longer arouse any interest. So the market will ignore them. Friday, April 14 At the end of the week, data on industrial production in the United States are published, and they do not bode well for the dollar. It is expected that the growth of 0.3% may be replaced by a decline of -0.9%. And the situation with retail sales is not so positive, since their growth rates should slow down from 5.4% to 3.2%. Thus, the dollar will be under noticeable pressure almost all week and actively lose its positions.
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