Brexit & EU summit
European Union leaders convening Wednesday for an emergency Brexit summit, just two days before Britain’s current exit day set for April 12. UK’s Prime Minister Theresa May already requested three more months to postpone Brexit to June 12. But the EU is so far offering a one-year extension.
Fed minutes & Mnuchin hearing
US Treasury Secretary Steven Mnuchin will be giving his annual testimony to the House Financial Services Committee on Tuesday. Lawmakers are expected to grill one of President Donald Trump’s top negotiators in trade talks with China about the progress the White House reports, as a solution lies still weeks ahead.
The US Federal Reserve on Wednesday is releasing minutes from its March FOMC meeting. The minutes will explain more in detail how the Fed, in an even more dovish stance, abandoned further interest rate hikes this year altogether.
Fed’s Vice Chair Richard Clarida is speaking on Tuesday and Thursday at two separate events. Clarida is to touch on the economic outlook and the monetary policy amid rising fears of a recession.
ECB rate decision & Draghi speech
The European Central Bank (ECB) is set to announce its interest rate decision on Wednesday. No changes are expected in the %0.00 rate. President Mario will deliver a speech in which he is sure to explain more of the ECB Governing Council’s new plan for cheap loans to European banks, dubbed as “targeted longer-term refinancing operations (TLTROs).”
US Corporate earnings
In the US, JPMorgan and Wells Fargo are reporting their earnings results for the first quarter of the year on Friday. A weakened performance will not be surprising given the length of the US-China trade war and the global growth slowdown.
IMF & World Bank & G20 meetings
Central bank governors and Finance ministers of the G20 are meeting in Washington on April 11–12 to discuss the state of the world economy.
On Thursday, the IMF and World Bank are holding meetings. The WB meeting will be led by the Trump nominee David Malpass, who was appointed as President only last week.
Tuesday, US JOLTs Job Openings
Wednesday, UK GDP, Manufacturing Production
EUR Deposit Facility Rate, RECB Marginal Lending Facility, ECB Monetary Policy Statement, ECB Interest Rate Decision
US Core CPI, ECB Press Conference, US Crude Oil Inventories, US FOMC Meeting Minutes
Thursday US PPI