Good Afternoon Traders! I hope you are well-rested and excited about another week of productive trading! The new week is about to begin, and we’re already expecting another week of volatility as the economic calendar is stacked full with event risk.
There will be a trio of important central bank meetings, from the FOMC (Fed), BOE (Bank of England), and BOJ (Bank of Japan) that will command most of the attention during the later half of the week, as investors & analyst wait to learn how policymakers will respond to the rise in bond rates.
Will these central banks intervene to curb the sell-off in bond markets similar to what the ECB did on last Thursday?
This question will be up for debate at each respective monetary policy meeting, and will likely dominate most of the conversation during this week of trading. However, prior to these events, there will be some political news, with elections in Germany and Netherlands, that will kick-off this week of trading, and both elections are already receiving much attention on the eve of voting.
But, on the global economic front, we still have a slew of important indicators, like US Retail Sales, Philly-Fed Manufacturing PMI, German ZEW Economic Sentiment, Eurozone CPI, and China Retail Sales & Industrial Production that will alter price behavior and market sentiment for the week.
In over-the-weekend trading, Bitcoin proved to be spectacular with an 8% rally on Saturday to hit a high of $61,788. Since then, it has edged back lower to $60,200 at the time of this writing.
Forex Current Open Levels For New Week (March 15, 2021):
Bitcoin is slightly higher for the session at $50,023 USD, with a pick up of demand pre-market.
As for today’s FX Market Open, on Monday, March 15, 2021, the Sydney(Australia) & New Zealand exchanges will remain thin in liquidity until more Asian centers open for the day. Current Open Levels in today’s forex market, indicate that risk sentiment may remain neutral and tentative for the early part of the session, until a significant catalyst is introduced in later periods.
Spot Currency markets have opened with the Swissy (CHF) & Cable (GBP) leading for the session, and the Loonie (CAD) and Fibre (EUR) weaker at the onset of this week’s forex market. This mild & benign sentiment could change as more trading houses open up for the week, and as liquidity grows throughout the session.
Important Economic Data For The First Half of Week (March 15th to March 19th) :
If you live outside of the US or Canada, then please keep in mind that you may need to adjust the times below due to North America switching to Daylight Savings Time. Europe and the United Kingdom will switch to DST on Sunday, March 28, 2021.
Sunday, March 14, 2021
🇦🇺 RBA Governor Lowe Speaks – 7:15pm ET
🇨🇳China Retail Sales – 10:00pm ET
🇨🇳China Industrial Production – 10:00pm ET
🇦🇺 Australia HIA New Home Sales (m/m) – Tentative
Monday, March 15, 2021
🇪🇺Eurogroup Meetings – ALL DAY
🇳🇿 Westpac Consumer Survey – 5:00pm ET
🇦🇺 Australia House Price Index – 8:30pm ET
🇦🇺 RBA Policy Meeting Minutes – 8:30pm ET
Tuesday, March 16, 2021
🇯🇵 Japan Industrial Production – 12:30am ET
🇪🇺ECOFIN Meetings – ALL DAY
🇪🇺Euro ZEW Economic Sentiment – 6:00am ET
🇩🇪 German ZEW Sentiment Data – 6:00am ET
🇺🇸US Retail Sales Data – 8:30am ET
🇺🇸US Industrial Production – 9:15am ET
🇺🇸US Capacity Utilization – 9:15am ET
🇳🇿 New Zealand GDT Price Index – 10:00am ET
🇺🇸US 20-Yr Bond Auction – 1:00pm ET
🇳🇿 REINZ House Price Index (m/m) – Tentative
🇦🇺 Australia Westpac Leading Index – 7:30pm ET
🇦🇺 RBA Asst. Governor Kent Speaks – 7:30pm ET
🇯🇵 Japan Trade Balance – 7:50pm ET
Wednesday, March 17, 2021
🇪🇺 Eurozone Final CPI (Core & Headline) – 6:00am ET
🇩🇪 German 30-yr Bund Auction – 6:40am ET
🇿🇦 South Africa Retail Sales – 7:00am ET
🇺🇸US Housing Starts – 8:30am ET
🇺🇸US Building Permits – 8:30am ET
🇨🇦 Consumer Price Index – 8:30am ET
🇨🇦 BOC Core Consumer Price Index – 8:30am ET
🇺🇸EIA Crude Oil Inventories – 10:30am ET
🇺🇸FOMC Economic Projections – 2:00pm ET
🇺🇸FOMC Monetary Policy Statement – 2:00pm ET
🇺🇸Fed Interest Rate Decision – 2:00pm ET
🇺🇸FOMC Press Conference – 2:30pm ET
🇳🇿 New Zealand GDP Reading (y/y)(q/q) – 5:45pm ET
🇦🇺 Australia Employment Change – 8:30pm ET
🇦🇺 Australia Unemployment Rate – 8:30pm ET
🇦🇺 RBA Asst. Governor Kent Speaks – 9:05pm ET
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Marvin Perry has been an active trader within the Forex market since 2010. He attended the University of Illinois in Urbana/Champaign, and graduated in 2002 with a double major in Cell and Structural Biology and Chemistry. He currently serves as an FX instructor & Quantitative Analyst for the Forex Anatomy Private Trading Community called "The Lab", where he conducts live weekly trading webinars & instruction on Fundamental Analysis & Inter-Market Interpretations of dynamic asset classes and their influence on currencies.