March 27, 2025
APRIL 2025 EVENTS
The RBA will meet to decide on interest rates and appears set to keep rates at the current level of 4.10%.
Possible Influence: Volatile Australian Dollar
ISM Manufacturing PMI previous print was 50.3. The number was lower than the previous 50.9.
Possible influence: Volatile US Dollar, Gold and US Stocks
Reciprocal tariffs are set to be imposed on multiple counties from April 2nd. However, Trump has outlined flexibility on this and that exceptions will be made if countries lower their tariffs, or make a deal with the US.
Possible Influence: Volatile US Stocks, European stocks, Gold, Silver, US Dollar currency pairs, Copper, Natural Gas, Crude Oil
The previous month had unemployment at 4.1%. Nonfarm Payrolls for the previous month printed 151,000.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Core CPI (excluding food and energy) was 3.1%, Year-over-Year in February. Top-line CPI for February came in at 2.8%, slightly less than expected.
Possible Influence: Volatile US Dollar, Gold and US Stocks
The Bank of Canada will meet to set interest rates. They are currently 2.75% after the bank cut interest rates in March by 25 basis points. The bank may decide to keep rates at 2.75%, or to cut by 25 basis points in April.
Possible Influence: Volatile Canadian Dollar and Canadian Stocks
Month-over-Month Retail Sales was at 0.2% in February, which was lower than the 0.6% expected by the market.
Possible Influence: Volatile US Dollar, Gold and US Stocks
The European Central Bank will meet to discuss interest rates. Rates are currently at 2.65% after a rate cut of 25 basis points in March. Rates might be cut by another 25 basis points this month.
Possible Influence: Volatile Euro, GER40 Index
The 1st Quarter earnings season kicks off in mid-April, with the banks starting off.
Of the major companies, JP Morgan, Goldman Sachs, Bank of America, Netflix and Tesla are expected to declare their earnings in April.
Possible Influence: Volatile US Stocks, Indices
US Gross Domestic Product (GDP) for Q1 of 2025 will be announced, which could reflect Trump tariffs that started being implemented in February. Q4 2024 GDP growth came in at 2.3%, down from Q3 2024 GDP growth of 3.1%.
Possible Influence: Volatile US Dollar, Gold and US Stocks