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Weekly News 22.04–26.04.2019

Introducing the most complete review of the upcoming week from analysts Olymp Trade


    This week, traders will be expecting a lot of US data to come out—form the real estate market to preliminary US GDP for Q1 in 2019. Several exchanges will be closed due to Catholic Easter. Investors are looking forward to Boeing’s quarterly report. Democrats will be trying to get President Donald Trump’s tax returns again.

     

    April 22. Existing home sales in the UK. Easter Monday

    At 14:00 GMT, the US releases a report on existing home sales. The forecast: 5,3 mln.

    We should note that during 2018, the report released higher data than the current forecast.


    Exchanges in Europe, the UK, Australia, New Zealand and some other countries will be closed due to Easter. Therefore, the volatility in the Forex market is expected to be quite low. The situation will improve when the trading session opens in the US.

     

    April 23. New home sales in the US. Trump’s tax returns

    At 14:00 GMT, the US releases data on new home sales. The forecast: 650 thousand. This figure is close to historical highs of the sales rate.

    Taking into account the growth of the US stock market, the construction sector is quite likely to show the results the experts predict.


    By April 23, US congressmen must be provided by US President Donald Trump with his tax returns. Representative Richard Neal, the chairman of the House Ways and Means Committee has formally requested President’s tax returns from Internal Revenue Service.

    This has not been the first attempt to sort out Trump’s tax returns made by Democrats. However, President has declared he did not have provide those documents. This position was confirmed by the members of his team.

     

    April 24. The Bank of Canada’s Interest Rate decision. Boeing report

    At 14:00 GMT, the Bank of Canada releases its interest rate decision. Investors don’t expect the reading of 1.75% to change. However, the statement made by the Governor of the Bank may be followed by increased volatility in the Forex market.


    Boeing is to release the company’s first-quarter results before the opening of the trading session in the US. The report is unlikely to be as positive is it was for the previous quarter. The company faced a decrease in orders after two Boeing 737 MAX 8 crashes.

    Meanwhile, Boeing shares did not collapse and are now trading at $370. Having gained a foothold above the $360 level, the asset is giving the market a bullish signal, which can be supported by investors.

     

    April 25. Core Durable Goods Orders USA

    At 12:30 GMT the US releases Core Durable Goods Orders. The release may affect both the stock market and the US dollar exchange rate.The forecast: a 0,2% increase.

     

    April 26. US GDP. A meeting of allies

    At 12:30 GMT the US releases preliminary data on the country’s GDP for the first quarter 2019. Investors expect the US economy to grow by 1.8%. However, the reading may be higher.


    U.S. President Donald Trump will meet with Japanese Prime Minister Shinzo Abe. According to media reports, they will discuss international trade, as well as the problem of the denuclearization of the DPRK.

    We remind you that trade relations between the countries were discussed last week. During the consultations, Japan’s Minister of Economic Revitalization Toshimitsu Motegi, mentioned progress in cooperation.

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