Draghi Speaks, US Retail Sales and New Zealand GDP – March 14, 2018
At 10:00 GMT, ECB President Mario Draghi is due to speak at the ECB conference hosted by the Institute for Monetary and Financial Stability, in Frankfurt. His comments can influence moves in EUR pairs.
At 12:30 GMT, US Retail Sales (MoM) (Feb) will be released, with an expected 0.3% from -0.3% previously. Retail Sales ex Autos (MoM) (Feb) is expected at 0.4% from 0.0% prior. Retail Sales Control Group (Feb) is expected to be 0.4% from 0.0% prior. It is expected that Auto sales will be a drag on the figures as demand caused by the hurricane season has been met, with CPI data showing a 0.2% fall in auto prices. This may lessen the expected bounce back from last month’s number. USD crosses may see increased volatility around this data release.
At 16:15 GMT, the ECB’s Coeure is due to make a scheduled speech and, as a member of the executive board, his comments could affect EUR crosses.
At 21:45 GMT, New Zealand Gross Domestic Product (QoQ) (Q4) is expected to be 0.7% against 0.6% previously. This data point has been trending lower since the high of 1.5% set in March 2013. The last four quarters have seen the numbers miss expectations on two occasions, and come in as predicted on the other two. Gross Domestic Product (YoY) (Q4) is expected to be 3.1% against 2.7% previously.
At 23:50 GMT, Foreign Investment in Japanese Stocks (Mar 9) will be released. The prior reading was ¥-463.4B. Foreign Bond Investment (Mar 9) will also be released, with a previous value of ¥-1,188.5B. JPY crosses may experience volatility as a result of this data.
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