On Tuesday, the highlight will be the RBA monetary policy announcement, along with the final manufacturing PMI for both the eurozone and the U.S. Additionally, the U.S. will release the JOLTS job openings report.
Thursday will bring inflation data from Switzerland, while the U.S. will release unemployment claims and the ISM services PMI.
Later in the day, Fed Chair Powell is expected to speak about the economic outlook at the Society for Advancing Business Editing and Writing Annual Conference in Arlington, with audience questions expected. Throughout the week, several FOMC members are also expected to deliver remarks.
The RBA is not expected to maintain the hawkish tone seen at the last meeting. The market still anticipates further rate cuts, with the next one expected in May.
In terms of monetary policy, the ECB is expected to continue with at least 2 rate cuts until the end of the year. However, the expected increase in defense spending and the uncertainties surrounding tariffs is likely to make the Bank more cautious.
For the ISM services PMI, which will be released on Thursday, the consensus is 53.0, slightly lower than the previous 53.5. This decline suggests a slower pace of expansion in the services sector.
On Wednesday, the Trump administration is expected to announce global tariffs that would apply to virtually all U.S. trading partners, in addition to those announced for autos last week. Retaliation remains a concern, as some countries, including China, have indicated they will match U.S. tariffs. Meanwhile, the EU is reportedly considering concessions to avoid or reduce tariffs.
A notable slowdown is anticipated in non-farm employment growth, with analysts attributing much of this weakness to federal employment cuts. According to Wells Fargo, government payrolls are expected to shrink by 15K as hiring freezes and layoffs intensified ahead of the survey period.
However, some factors may help offset these declines. Seasonal hiring in the leisure and hospitality sectors is expected to increase as weather conditions improve, while employment in healthcare and social assistance is likely to remain resilient.
While growth in the job market seems to be slowing down, it comes after a 76K surge in January. Job postings on indeed.com in the second half of March suggest a softening in hiring demand according to analysts from RBC.
Labor supply growth is expected to face increasing constraints due to slower population expansion, pointing to a more subdued employment outlook in the coming months.
This article was written by Gina Constantin at www.forexlive.com.Hence then, the article about market outlook for the week of march 31st april 4th was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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