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The week ahead

A look ahead to the major events, economic releases and company news expected next week.

  • See a full calendar of key economic reports and company announcements

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Week commencing 23 April

Chris Beauchamp, market analyst

This week is one of those weeks when both the economic and corporate calendars are nearly full to bursting. We have purchasing managers indexes (PMIs) from the eurozone and the US, plus a European Central Bank (ECB) meeting, preliminary gross domestic product (GDP) reports from the UK and US, as well as US durable goods and a Bank of Japan (BoJ) meeting. Each day has plenty to keep markets busy.

This is without taking into account the swathe of earnings from the UK, Europe and the US. Tech takes the spotlight in the US, with Alphabet, Facebook, Twitter and Amazon. In the UK we have bank trading updates, and a full-year statement from Whitbread.

Economic reports

Week commencing 23 April

Monday

1.30am – Japan mfg PMI (April, flash): expected to fall to 52.6 from 53.2. Markets to watch: Nikkei 225, Yen crosses

8am – 9am – French, German, eurozone services & mfg PMIs (April, flash): these are expected to ease back slightly, and as a result could put EUR under further pressure. Markets to watch: eurozone indices, EUR crosses

1.30pm – US Chicago Fed national activity index (March): expected to fall to 0.2 from 0.88. Markets to watch: US indices, USD crosses

2.45pm – US services & mfg PMIs (April, flash): mfg to fall to 55 from 55.6, while services to hold at 54. Markets to watch: US indices, USD crosses

3pm – US existing home sales (March): expected to rise to an annual rate of 5.55 million from 5.54 million. Markets to watch: US indices, USD crosses

Tuesday

2.30am – Australia CPI (Q1): forecast to be 2% YoY and 0.7% QoQ, from 1.9% and 0.6%. Market to watch: AUD crosses

9am – German Ifo index (April): business climate index to rise to 114.8 from 114.7. Market to watch: EUR crosses

3pm – US consumer confidence (April), new home sales (March): confidence to fall to 125 from 127.7, while new home sales to rise 1.9% MoM from a 0.6% drop. Markets to watch: US indices, USD crosses

Wednesday

3.30pm – US EIA crude inventories (w/e 20 April): stockpiles expected to rise by 290,000 barrels, from a drop a 1.07 million a week earlier. Markets to watch: Brent, WTI

Thursday

7am – German GfK consumer confidence (May): forecast to fall to 10.8 from 10.9. Market to watch: EUR crosses

12.45pm – ECB rate decision (1.30pm press conference): no change in rates expected, and while there is a growing belief that the bank will have to tighten policy in due course, recent weaker economic data may well allow Mario Draghi to stick with the accommodative stance. Markets to watch: eurozone indices, EUR crosses

1.30pm – US durable goods orders (March): forecast to rise 1% MoM from 3.1%, and 0.4% MoM excluding transportation, from 1.2% a month earlier. Markets to watch: US indices, USD crosses

Friday

12.30am – Japan unemployment rate (March): forecast to rise to 2.6% from 2.5%. Market to watch: JPY crosses

4am – Bank of Japan decision: no change expected here, but hints of a possible hawkish shift could be positive for JPY. Market to watch: JPY crosses

8.55am – German unemployment rate (April): expected to remain at 5.3%, while unemployment drops by 15K from a 19K drop in March. Market to watch: EUR crosses

9.30am – UK GDP growth (Q1, preliminary): growth is expected to be 0.4% QoQ and 1.5% YoY, from 0.4% and 1.4% respectively. Markets to watch: FTSE 100/250, GBP crosses

10am – eurozone business confidence (April): forecast to rise to 1.39 from 1.34. Market to watch: EUR crosses

1.30pm – US GDP growth (Q1, advanced reading): expected to be 2.3% QoQ, from 2.9%. Markets to watch: US indices, USD crosses

3pm – US Michigan confidence reading (April, final): expected to be 98 from 101.4. Markets to watch: US indices, USD crosses

Weekly view

Monday

1.30am – Japan mfg PMI (April, flash): expected to fall to 52.6 from 53.2. Markets to watch: Nikkei 225, Yen crosses

8am – 9am – French, German, eurozone services & mfg PMIs (April, flash): these are expected to ease back slightly, and as a result could put EUR under further pressure. Markets to watch: eurozone indices, EUR crosses

1.30pm – US Chicago Fed national activity index (March): expected to fall to 0.2 from 0.88. Markets to watch: US indices, USD crosses

2.45pm – US services & mfg PMIs (April, flash): mfg to fall to 55 from 55.6, while services to hold at 54. Markets to watch: US indices, USD crosses

3pm – US existing home sales (March): expected to rise to an annual rate of 5.55 million from 5.54 million. Markets to watch: US indices, USD crosses

Tuesday

2.30am – Australia CPI (Q1): forecast to be 2% YoY and 0.7% QoQ, from 1.9% and 0.6%. Market to watch: AUD crosses

9am – German Ifo index (April): business climate index to rise to 114.8 from 114.7. Market to watch: EUR crosses

3pm – US consumer confidence (April), new home sales (March): confidence to fall to 125 from 127.7, while new home sales to rise 1.9% MoM from a 0.6% drop. Markets to watch: US indices, USD crosses

Wednesday

3.30pm – US EIA crude inventories (w/e 20 April): stockpiles expected to rise by 290,000 barrels, from a drop a 1.07 million a week earlier. Markets to watch: Brent, WTI

Thursday

7am – German GfK consumer confidence (May): forecast to fall to 10.8 from 10.9. Market to watch: EUR crosses

12.45pm – ECB rate decision (1.30pm press conference): no change in rates expected, and while there is a growing belief that the bank will have to tighten policy in due course, recent weaker economic data may well allow Mario Draghi to stick with the accommodative stance. Markets to watch: eurozone indices, EUR crosses

1.30pm – US durable goods orders (March): forecast to rise 1% MoM from 3.1%, and 0.4% MoM excluding transportation, from 1.2% a month earlier. Markets to watch: US indices, USD crosses

Friday

12.30am – Japan unemployment rate (March): forecast to rise to 2.6% from 2.5%. Market to watch: JPY crosses

4am – Bank of Japan decision: no change expected here, but hints of a possible hawkish shift could be positive for JPY. Market to watch: JPY crosses

8.55am – German unemployment rate (April): expected to remain at 5.3%, while unemployment drops by 15K from a 19K drop in March. Market to watch: EUR crosses

9.30am – UK GDP growth (Q1, preliminary): growth is expected to be 0.4% QoQ and 1.5% YoY, from 0.4% and 1.4% respectively. Markets to watch: FTSE 100/250, GBP crosses

10am – eurozone business confidence (April): forecast to rise to 1.39 from 1.34. Market to watch: EUR crosses

1.30pm – US GDP growth (Q1, advanced reading): expected to be 2.3% QoQ, from 2.9%. Markets to watch: US indices, USD crosses

3pm – US Michigan confidence reading (April, final): expected to be 98 from 101.4. Markets to watch: US indices, USD crosses

Company announcements

Upcoming dividends (26 April)

FTSE 100: RELX, Glencore, Fresnillo, Legal & General, Rolls-Royce, Antofagasta

FTSE 250: William Hill, Man Group, Weir, National Express, Petrofac, IWG, Spirax-Sarco, TI Fluid Systems, International Public Partnerships

Dividends are applied after the close of the previous day’s session for each market. So, for example, the FTSE 100 goes ex-dividend on a Thursday, but the adjustment is applied at the close of the previous day e.g. Wednesday. The table below shows the days in which the adjustment is applied, not the ex-dividend days.

Index dividend adjustments

  Monday 23 April Tuesday 24 April Wednesday 25 April Thursday 26 April Friday 27 April Monday 30 April
FTSE 100

 

 

7.8

 

 

 
Australia 200

 

  0.5   0.1  
Wall Street

 

         
US 500 0.07     0.16 0.26 0.01
Nasdaq     0.10   0.60  
France 40 4.1 4.1 1.5      
Netherlands 25       0.61 0.47  
EU Stocks 50 1.3 5.3 2.4 2.9 2.2  
China H-Shares 1.3          
Singapore Blue Chip 0.27 0.35 0.00 0.09 0.32  
Hong Kong HS50       10.8 3.8  
South Africa 40            
Japan 225          

 

 

This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.  Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. 

CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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CFDs are a leveraged product and can result in losses that exceed deposits. Trading CFDs may not be suitable for everyone, so please ensure you fully understand the risks and take care to manage your exposure.