(Partial video transcription)
Eurozone PPI data
Angeline Ong: Hello, I'm Angeline Ong. Welcome to “Looking Ahead” on Thursday, April 4th. Now, we start with the Eurozone data as the Producer Price Index, which could make things a little more interesting, especially given that we expect at least -0.5% month-on-month for February in his . Also important are comments that may come from some speakers this week on whether the ECB will act ahead of the Fed in cutting interest rates. The Fed still seems likely to make its first rate cut in June.
US trade balance and number of new unemployment insurance claims
Speaking of which, we also have trade balance numbers and initial unemployment claims from the US. First, let's look at the dollar index. This has a lot to do with the key data we're looking forward to on Friday: nonfarm payrolls. First, let's look at the dollar index. This has a lot to do with the key data we're looking forward to on Friday: nonfarm payrolls.
If you search online, you'll find an article by my colleague Chris Beauchamp suggesting that he expects solid job growth in the March jobs report. Now, if we get hot, hot, hot numbers, maybe the US dollar could go higher. There, it appears to be moving within a lateral range. However, we are watching the last few sessions very closely because if you draw a line here, you can see there is a potential breakout there. We don't have confirmation of that yet, but given the NFP numbers, more traders could pick up volume this Friday.
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