(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 bit more interesting, especially given that he expects at least -0.5% month-on-month for February . Also key will be comments that may come from some speakers this week on whether the ECB is likely to go further than the Fed on rate cuts. 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. That's because it 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. That's because it 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, I have been watching the last few sessions closely. Because if you draw a line there, you know there's a breakout possibility there. We don't have confirmation of that yet, but given the NFP numbers, more traders could pick up volume this Friday.
(Watch the video for the entire “Look Ahead” episode)
