Stock markets had their most volatile week in a while, effectively ending a decade long bull market. The Coronavirus epidemic took its toll heavily on all areas of the economy, and the analysts say this is only the beginning. Major central banks already intervened; more measures are expected soon. Here's what's to follow for this week:
Monday 16.30, G7 meeting via satellite- talks on the appropriate actions to take to tackle the Coronavirus outbreak. Usually, these types of meetings can create volatility, having an impact on currency markets.
Also, European Union finance ministers will meet to discuss the impact of the Coronavirus and measures to restart their economies.
Tuesday 17.03, Germany ZEW investor confidence indicator is expected to decline sharply amid significant economic disruption caused by the pandemic to one of the world's most trade-dependent economies, Germany30.
On American soil, the Census Bureau will release its monthly report called Core Retail Sales regarding the change in the total values of sales at the retail level, excluding automobiles. It is the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
Wednesday 18.03, The Fed meeting that was scheduled already took place on Sunday, when they decided to cut the interest rate. The interest rate is settled now at 0.25%, but the predictions are that the Fed will be forced to cut to zero by April to boost the economy, USA30.
Thursday 19.03, the Bank of Japan and the Swiss National Bank are expecting to decide on their interest rates.
The Swiss National Bank will have to decide if its regular interventions to push down the Swiss Franc are still on the line without further lowering its interest rates.
The Bank of Japan is expected to ease policy to cushion the economic fallout from the Coronavirus and increase business confidence in the world's third-largest economy.
Friday 20.03, the Central Bank of the Russian Federation will meet to discuss the $30-per-barrel fall in Oil prices.
Sources: investing.com, forexfactory.com
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