ECB Speeches Drop The Euro
The big data event of the week is tomorrow’s US Nonfarm Payrolls (Mar), Canada’s Employment Change (Mar) and Manufacturing Production (MoM) (Feb). Expectations from Analysts is for 180,000 US jobs to have been added in March. European Central Bank President Mario Draghi and the ECB’s Chief Economist Peter Praet gave speeches earlier today Thursday, and both men seemed to contradict the hawkish comments of the Bundesbank President Jens Weidmann, who said in a tabloid interview published today that he would be happy to see the ECB’s Bond-Buying Program end within a year. The Euro dropped to a three-week low following the ECB address, then rebounded to trade broadly flat.
Trump meets with China’s Xi today and China’s stand on Labour is that China cannot be blamed for US job losses.
Potential Catalysts
Data Front
India Interest Rate Decision (5:00 AM ET)
US Initial Jobless Claims (8:30 AM ET)
Canada Building Permits (MoM) (Feb) (8:30 AM ET)
Central Bank Speaks
German Buba President Weidmann Speaks (5:40 AM ET)
ECB Monetary Policy Meeting (7:30 AM ET)
ECB’s Constancio Speaks (7:45 AM ET)
FOMC Member John Williams Speaks (9:30 AM ET)
