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05.05.2008 - The week ahead – central banks and the trade gap in focus

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Date: 2008-05-05 14:08

Coming days on financial markets should be considerably calmer than the last week, as the list of macroeconomic reports to be released is much shorter and the most crucial earnings reports are already behind us.


The last week’s US data was a bit better than expected but not decisive and therefore the market is reverting big slide in the EURUSD (to around 1,55 from 1,5360, a crucial support level on Friday) and stock indices are far from rocketing despite conquering the resistance. This week, investors are focusing on the activity in the US’s services (today) and trade balance data (on Friday), as well as the rate decisions in the Euro zone and the UK (both banks are expected to leave rates unchanged on Thursday).        


Przemysław Kwiecień
Chief Economist