Despite the high expectations for dramatic turns during last week's big news items including the FOMC meeting and U.S GDP for Q1 2012, eventually there were little movements in the forex and commodities. As we are entering a new month and a new week, let's examine the main events and news items that may affect the financial markets including: U.S ISM manufacturing PMI, ECB rate decision, EU M1, M3, China's manufacturing PMI, Canada's GDP, U.S non-farm payroll report and U.S. jobless claims. Here is an outlook for the week of April 30th to May 4th :
Monday, April 30th
09:00 – Euro Area Monetary Development: This monthly report will present the development of the M3, M1 and loans to private sector in the Euro area during March 2012. In the previous February report, the annual growth rate for M3 sharply increased to 2.8%. The M1 also increased to 2.5%. Finally, the annual growth rate of loans to private sector declined to 1.1% in February. If the M1 and M3 will continue to rise according to the upcoming April report it could serve as another indicator for the rising inflation pressures in the Euro Area, and it may affect the upcoming ECB interest rate decision;
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