- This week, markets will focus on escalating US-China tariffs, the uncertain US jobs report, Eurozone inflation data influencing ECB rate-cut debate, and the RBA’s expected decision to hold rates steady with guidance towards a possible May cut.
1. US tariffs escalate
New reciprocal tariffs on US imports are set to begin on April 2nd, intensifying the ongoing trade war. Interestingly, President Trump took a softer stance with Canada last week—dropping the “51st State” rhetoric and refraining from calling the Prime Minister “governor”—suggesting a favourable deal could be reached.
2. US jobs report
March’s nonfarm payrolls report will provide insights into how businesses are managing economic uncertainty. Forecasts vary significantly: the consensus expectation is for 128,000 new jobs, whereas Trading Economics projects only 80,000 —setting up a potential surprise and a few potential trading opportunities.
3. Eurozone inflation
Inflation data due this week is forecast to show consumer prices rising by 2.2% in March. Although this represents a five-month low, it remains above the European Central Bank’s 2% target, potentially limiting debate about further interest rate cuts.
4. RBA interest rate decision
The Reserve Bank of Australia is widely expected to keep interest rates unchanged on April 1st, after cutting rates for the first time in over four years last month. According to Westpac, the RBA’s previously hawkish guidance suggests consecutive rate cuts are unlikely, making forward guidance key as traders look for signals about a possible cut in May.
For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox.
