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Trading Radar: Jobs Data on a Holiday-Shortened Week

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Economics, earnings reports, and market events for the week ahead.

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US markets will be closed next Friday for the Easter holiday. The ECB will release its rate decision on Thursday; last month's release had the bank leaning in more of a hawkish direction on concerns of rising inflation. It is still speculated that the bank will initiate another round of quantitative easing after two rounds of easing that released $1 trillion into the banking system.

Even though the markets are closed on Friday, the government will release the latest jobs numbers. Markets rose more than 12% in the first quarter of this year on increasing growth in US employment and the economy.

Over the weekend European finance ministers will vote to finalize a deal with eurozone countries to raise the size of the European firewall facilities, the EFSF and ESM. Earlier today the Austrian finance minister leaked that the final size will be 800 billion euros.

The Fed released its Permanent Open Market Operations (POMO) for the month of April. The Fed plans to purchase $44 billion in longer maturity Treasuries and sell $43 billion in short-term Treasuries, heavy in the 7-year sector.

Important earnings include Monsanto (MON), Bed Bath & Beyond (BBBY), and CarMax (KMX).


Monday, April 2

US Economics
10:00 Construction Spending – consensus 0.7%
10:00 ISM Manufacturing – consensus 53.1
10:30 ISM Prices Paid – consensus 62.3
11:00 Fed to purchase $4.25b-$5b notes in 5/15/2020 to 2/15/2022 range
11:30 U.S. to sell $31b 3-mo., $29b 6-mo. bills

Global Economics
07:15 CHF Retail Sales
08:00 Euro-Zone PMI
08:30 GBP PMI
5:30 Germany to sell €4b 6-mo. bills
9:00 France to sell up to €4b 91-day, €1.4b 140-day, €2b 364-Day bills

No earnings


Tuesday, April 3

US Economics
09:45 NY ISM
10:00 Factory Orders – consensus 1.5%
10:00 Total Vehicle Sales – consensus 14.50M
10:00 Domestic Vehicle Sales – consensus 11.35M
11:00 Fed to purchase $1b-$1.5b TIPS in 6 to 30-year range
11:30 U.S. to sell 4-week bills, $26b 52-week bills

Global Economics
01:00 CNY China Non-Manf PMI
04:30 AUD Reserve Bank of Australia
09:00 EUR Euro-Zone PPI
4:00 EFSF to sell up to €2b 91-day bills

Earnings
Before: CONN, ISCA
After: MIND, SABA, TISI


Wednesday, April 4

US Economics
07:00 MBA Mortgage Purchase Index
08:15 ADP Employment Change – consensus 205K
10:00 ISM Non-Manufacturing Composite – consensus 56.6
11:00 Fed to purchase $4.5b-$5.25b notes in 8 to 10-year range
11:00 Fed to purchase $1.5b-$2b notes in 25 to 30-year range

Global Economics
01:30 AUD Trade Balance
08:00 EUR Euro-Zone PMI
09:00 EUR Euro-Zone Retail Sales
10:00 EUR German Factory Orders
11:45 EUR ECB Rate Decision
4:30 Spain to sell 4.85% 2020, 4.4% 2015, 4.25% 2016 bonds
5:30 Germany to sell add'l €4b 5-yr notes
5:30 Portugal to sell 192-day, 556-day bills

Earnings
Before: AYI, MON, MSM
After: SHLM, ANGO, BBBY, GPN, HWD, MFRM, MG, PBY, PSMT, RELL, RT, SMSC


Thursday, April 5

US Economics
07:30 Challenger Job Cuts
08:30 Initial Jobless Claims – consensus 356K
08:30 Continuing Claims – consensus 3340K

Global Economics
02:30 CNY China HSBC Services PMI
07:45 CHF CPI
08:30 GBP Industrial Production
11:00 GBP BoE Rate Decision
12:30 CAD Unemployment Rate
14:00 GBP NIESR GDP Estimate
5:00 France to sell 4.25% 2017, 3% 2022, 3.5% 2026, 4.5% 2041 bonds

Earnings
Before: KMX, CHOP, STZ, PIR, PNCL, RPM, SCHN, LEDS
After: AZZ, CIM, WDFC


Friday, April 6

US Markets are closed, but the BIS will release this data anyways

US Economics
08:30 Change in Nonfarm Payrolls – consensus 210K
08:30 Change in Private Payrolls – consensus 225K
08:30 Change in Manufacturing Payrolls – consensus 20K
08:30 Unemployment Rate – consensus 8.3%
08:30 Avg Weekly Hours – consensus 34.5
3:00 Consumer Credit – consensus $12.00B

Global Economics
05:00 JPY Leading Index

No earnings


Twitter: @MichaelSedacca

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No positions in stocks mentioned.

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