{"id":7981,"date":"2024-03-18T07:05:36","date_gmt":"2024-03-18T07:05:36","guid":{"rendered":"https:\/\/justmarkets.eu\/?p=7981"},"modified":"2024-03-18T07:05:37","modified_gmt":"2024-03-18T07:05:37","slug":"weekly-overview-2024-03-18","status":"publish","type":"post","link":"https:\/\/justmarkets.eu\/it\/analytics\/weekly-overview-2024-03-18\/","title":{"rendered":"Week&#8217;s main events (March 18 \u2013 March 22)"},"content":{"rendered":"\r\n<div class=\"ag-base_page ag-m-format-container\">\r\n<h1 class=\"ag-base_title-page\">Week&#8217;s main events (March 18 \u2013 March 22)<\/h1>\r\n<div class=\"ag-analytics-page ag-market-overview-page\">\r\n\r\n <p class=\"ag-analytics_text\">\r\n\r\nThe Bank of Japan&#160;(BoJ) will hold a very important meeting on Tuesday, where there is more than a&#160;50% chance that the BoJ will finally exit the negative interest rate policy. Immediately after this meeting, the Reserve Bank of Australia&#160;(RBA) will meet to plan further monetary policy plans. The RBA is expected to keep the rate unchanged, but the policy bias may remain hawkish. The Federal Reserve&#160;(Fed) will meet on Wednesday. No changes are expected at this meeting, but any clues as to the central bank&#8217;s outlook for rate cuts will influence the market. On Thursday, the Swiss National Bank&#160;(SNB) and the Bank of England&#160;(BoE) will hold monetary policy meetings. No changes are expected, so the focus will be on the policymakers&#8217; bias for the next meetings. The Central Bank of Norway&#160;(Norges Bank) will meet this week, the People&#8217;s Bank of China&#160;(PBoC) will decide on the interest rate, and the UK, Canada, and Japan will release updated inflation data. \r\n\r\n  <\/p>\r\n\r\n\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Monday, March&#160;18\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nOn Monday, several economic statistics on China will be released. This data has a strong influence on Asian indices. Weak data is expected. Also, on Monday, the final inflation data will be published in Europe. No changes are expected.\r\n  <\/div>\r\n  \r\n  <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n<li>\u2013 China Industrial Production&#160;(m\/m) at&#160;04:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 China Retail Sales&#160;(m\/m) at&#160;04:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 China Unemployment Rate&#160;(m\/m) at&#160;04:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 Eurozone Consumer Price Index&#160;(m\/m) at&#160;12:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 Eurozone Trade Balance&#160;(m\/m) at&#160;12:00&#160;(GMT+2).<\/li>\r\n  <\/ul>\r\n\r\n  \r\n  \r\n\r\n\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Tuesday, March&#160;19\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nTuesday&#8217;s Bank of Japan meeting could be one of the most important in years, with officials set to decide whether to end eight years of negative interest rates, marking a landmark departure from a massive economic stimulus program. If the BoJ raises rates, it could cause excessive volatility in yen currency pairs. Also, on Tuesday, the Reserve Bank of Australia will hold its meeting. No changes are expected, so a lot will depend on what bias the RBA will choose for the next month. A rejection of the hawkish stance will harm the Aussie dollar. At the end of the trading day, traders will be awaiting Canadian inflation data. However, no significant changes are expected in the indicators, which may affect the CAD insignificantly.\r\n\r\n  <\/div>\r\n\r\n   <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n <li>\u2013 Japan BoJ Interest Rate Decision at&#160;04:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 Japan BoJ Monetary Policy Statement at&#160;04:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 Australia RBA Interest Rate Decision at&#160;05:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 Australia RBA Rate Statement at&#160;05:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 German ZEW Economic Sentiment&#160;(m\/m) at&#160;12:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 Eurozone ZEW Economic Sentiment&#160;(m\/m) at&#160;12:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 US Building Permits&#160;(m\/m) at&#160;14:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 Canada Consumer Price Index&#160;(m\/m) at&#160;14:30&#160;(GMT+2).<\/li>\r\n  <\/ul>\r\n\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Wednesday, March&#160;20\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nOn Wednesday, the Fed will meet on monetary policy and interest rates. Last week&#8217;s better-than-expected US producer and consumer price data forced traders to delay a future Fed rate cut. No changes are expected at this meeting, so investors will be focused on any clues about the central bank&#8217;s rate cut prospects, the strength of the US economy, and the possibility of an inflationary rebound. Volatility with USD currency pairs will increase sharply. It should also be noted that the UK will publish inflation data in the morning, influencing the Bank of England&#8217;s interest rate decision on Thursday. A further decline in consumer prices is projected. It\u2019s a bank holiday in Japan.\r\n  <\/div>\r\n\r\n <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n<li>\u2013 China PBoC Loan Prime Rate at&#160;03:15&#160;(GMT+2);<\/li>\r\n<li>\u2013 UK Consumer Price Index&#160;(m\/m) at&#160;09:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 UK Producer Price Index&#160;(m\/m) at&#160;09:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 Eurozone ECB President Lagarde Speaks at&#160;10:45&#160;(GMT+2);<\/li>\r\n<li>\u2013 US Crude Oil Reserves&#160;(w\/w) at&#160;16:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 US FOMC Economic Projections at&#160;20:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 US Fed Interest Rate Decision at&#160;20:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 US FOMC Statement at&#160;20:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 US FOMC Press Conference at&#160;20:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 New Zealand GDP&#160;(q\/q) at&#160;23:45&#160;(GMT+2).<\/li>\r\n  <\/ul>\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Thursday, March&#160;21\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nThursday will also be a volatile day. The Switzerland National Bank will hold a monetary policy meeting. The SNB is expected to keep the rate unchanged but may change its tone to a more dovish one due to lower inflation. This may put some pressure on the CHF. Next, the Bank of England will hold its monetary policy meeting. Investors will be watching for any changes in language regarding the &#8220;revision&#8221; of the bank rate following inflation data. Markets expect the Bank of England to start cutting rates in August. However, if the consensus is pushed to a closer date, it would be a strong negative for the GBP. Also worth watching on Thursday is the Bank of Norway meeting and the Hong Kong inflation rate.\r\n  <\/div>\r\n\r\n <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n<li>\u2013 Australia Manufacturing PMI&#160;(m\/m) at&#160;00:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 Australia Services PMI&#160;(m\/m) at&#160;00:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 Japan Trade Balance&#160;(m\/m) at&#160;01:50&#160;(GMT+2);<\/li>\r\n<li>\u2013 Australia Unemployment Rate&#160;(m\/m) at 02:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 Japan Manufacturing PMI&#160;(m\/m) at&#160;02:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 Japan Services PMI&#160;(m\/m) at&#160;02:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 Hong Kong Inflation Rate&#160;(m\/m) at&#160;10:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 Switzerland SNB Interest Rate Decision at&#160;10:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 Switzerland SNB Monetary Policy Assessment at&#160;10:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 German Manufacturing PMI&#160;(m\/m) at&#160;10:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 German Services PMI&#160;(m\/m) at&#160;10:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 Switzerland SNB Press Conference at&#160;11:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 Norway Interest Rate Decision at&#160;11:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 Eurozone Manufacturing PMI&#160;(m\/m) at&#160;11:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 Eurozone Services PMI&#160;(m\/m) at&#160;11:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 U.K. Manufacturing PMI&#160;(m\/m) at&#160;11:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 U.K. Services PMI&#160;(m\/m) at&#160;11:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 UK BoE Interest Rate Decision at&#160;14:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 UK BoE MPC Meeting Minutes at&#160;14:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 U.S. Initial Jobless Claims&#160;(w\/w) at&#160;14:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 U.S. Manufacturing PMI&#160;(m\/m) at&#160;15:45&#160;(GMT+2);<\/li>\r\n<li>\u2013 U.S. Services PMI&#160;(m\/m) at&#160;15:45&#160;(GMT+2);<\/li>\r\n<li>\u2013 U.S. Existing Home Sales&#160;(m\/m) at&#160;16:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 U.S. Natural Gas Storage&#160;(w\/w) at&#160;16:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 New Zealand Trade Balance&#160;(q\/q) at&#160;23:45&#160;(GMT+2).<\/li>\r\n  <\/ul>\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Friday, March&#160;22\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nJapan will release its inflation report on Friday, where prices are expected to jump from&#160;2.0% to&#160;2.8% annually. If the Bank of Japan leaves the rate in negative territory on Tuesday, a rise in inflation will increase the likelihood of a rate hike at the April meeting. This could lead to a sharp appreciation of the Japanese currency. Also, on Friday, UK and Canadian retail sales data will be released. Weak data is expected, increasing the likelihood of an earlier rate cut. As a rule, this is negative for the national currency.\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n<li>\u2013 Japan National Core CPI&#160;(m\/m) at&#160;01:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 UK Retail Sales&#160;(m\/m) at&#160;09:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 German Ifo Business Climate Index&#160;(m\/m) at&#160;11:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 Canada Retail Sales&#160;(m\/m) at&#160;14:30&#160;(GMT+2);<\/li>\r\n<li>\u2013 US Fed Chair Powell Speaks at&#160;15:00&#160;(GMT+2);<\/li>\r\n<li>\u2013 US FOMC Member Bostic Speaks at&#160;22:00&#160;(GMT+2).<\/li>\r\n  <\/ul>\r\n\r\n<p class=\"ag-analytics_text\">by <span class=\"author vcard\"><span class=\"fn\">JustMarkets<\/span><\/span>, <span class=\"updated\">2024.03.18<\/span><\/p>\r\n<!--a href=\"\/analytics\/daily-forecast\" class=\"ag-analytics_link\">\r\n          We advise you to get acquainted with the daily forecasts for the major currency pairs.\r\n        <\/a--> <a class=\"ag-base-btn\" href=\"https:\/\/secure.justmarkets.eu\/it\/register\/?sl=1\">Open Account<\/a><\/div>\r\n<\/div>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Week&#8217;s main events (March 18 \u2013 March 22) The Bank of Japan&#160;(BoJ) will hold a very important meeting on Tuesday, where there is more than a&#160;50% chance that the BoJ will finally exit the negative interest rate policy. Immediately after this meeting, the Reserve Bank of Australia&#160;(RBA) will meet to &#8230;<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[187,329],"tags":[],"class_list":["post-7981","post","type-post","status-publish","format-standard","hentry","category-analytics","category-market-overview"],"featured_image_src":"","blog_images":{"medium":"","large":""},"acf":[],"aioseo_notices":[],"ams_acf":[{"key":"icon","label":"Icon","value":false}],"_links":{"self":[{"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/posts\/7981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/comments?post=7981"}],"version-history":[{"count":1,"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/posts\/7981\/revisions"}],"predecessor-version":[{"id":7988,"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/posts\/7981\/revisions\/7988"}],"wp:attachment":[{"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/media?parent=7981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/categories?post=7981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/justmarkets.eu\/it\/wp-json\/wp\/v2\/tags?post=7981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}