Economic Events of the Coming Week - Monday, April 3

Monday: The Tankan Manufacturing Index for Q1 will see light in Japan, as will the final estimate of the Nikkei Japan Manufacturing Purchasing Mangers’ Index. Markit PMI’s will also see light throughout the Eurozone, the U.K. and in the U.S. The latter will also host the release of March’s ISM Manufacturing Index.  And February’s Construction Spending data.

Tuesday: March Monetary Base data will be released in Japan. Unemployment data will see light in Spain. In the U.S., February’s Trade Balance data will be released, where analysts expect a moderation of the deficit to USD 44.5 bln. Feb’s Factory Orders data will also see light in the U.S., as will the final Durable Goods’ Orders print. ECB President Draghi is scheduled to speak in Frankfurt.

Wednesday: The weekly MBA Mortgage Applications will see light in the U.S. March’s ADP Employment will also be released – analysts expect a substantial moderation from 298K jobs to 195K. Given Dudley’s commentary though, it’s unlikely to see a strong market reaction here, even if data surprises to the upside. The Fed will release the Minutes of its March 15 meeting.

Thursday: February Factory Orders data will see light in Germany. The weekly Initial Jobless Claims will see light in the U.S., where analysts expect a moderation to 250K. President Trump is scheduled to meet with his Chinese counterpart, Xi Jinping.

Friday: February Industrial Production data will be released in Germany, France and in the U.K. March’s Nonfam Payrolls will see light in the U.S, with the analyst consensus pointing to a mere 175 K jobs. March Unemployment data will also be released in the U.S., as will the Final estimate of Feb’s Wholesale Inventories.