According to analysts from Danske Bank, next week the most important release will be the ISM non-manufacturing index while they don’t expect significant news from the FOMC minutes.
Key Quotes:
“In the US, next week will be light in terms of new data. The most important release is the ISM non-manufacturing index for March due on Tuesday. The index has declined for four consecutive months reflecting the slowdown in the economy which began by the end of 2015. While the ISM non-manufacturing index may have been a bit too high previously, we now think the current level is actually too low compared to other economic indicators. Thus we expect the ISM non-manufacturing index rebounded to 54.1 in March as key figures such as consumer confidence and regional activity indices have painted a different picture lately.”
“On Wednesday we get the minutes from the 15-16 March FOMC meeting. As Fed communication after the meeting has been extensive we do not expect any significant
news.”
“Several FOMC members are scheduled to speak next week. Fed chair Yellen appears in a discussion with previous Fed chairs Greenspan, Bernanke and Volcker on Thursday. We do not expect any news, as Yellen has already set the stage with her speech Tuesday this week. Other important speakers next week are Rosengren (voter, dovish), Mester (voter, hawkish) and George (voter, hawkish).”
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