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Market News Report: March 2, 2020 – March 6, 2020

By:
Paul Rejczak
Published: Mar 2, 2020, 16:56 UTC

The financial markets will await Friday’s U.S. Nonfarm Payrolls number release. It is supposed to be the most important economic data release of the week.

Market News Report: March 2, 2020 – March 6, 2020

Stocks and oil were crashing and the price of gold was rallying last week. The financial markets went full risk-off following corona virus scare. This week we will have some quite important releases including Friday’s U.S. monthly jobs report, but will the economic data move markets more than virus news? Let’s take a look at the details.

The week behind

Last week’s economic data releases have been overshadowed by the ongoing corona virus crisis. The gold price rallied and the stock market basically crashed. And series of economic data releases in the U.S. didn’t help much. Tuesday’s CB Consumer Confidence was slightly worse than expected, However, in the following days the data releases were actually better than expected or in line with expectations. Overall, financial markets went full risk-off last week and the most important news was about COVID-19 virus and its potential global impact.

The week ahead

What about the coming week? The financial markets will await Friday’s U.S. Nonfarm Payrolls number release. It is supposed to be the most important economic data release of the week. Then there will be ISM Manufacturing and Non-Manufacturing PMI numbers releases on Monday and Wednesday. On Wednesday, we will also get the ADP Non-Farm Employment Change. The currency traders will await this week’s economic data releases from Australia and Canada. Last but not least, the coming week will be very important for the oil market. Let’s take a look at key highlights:

  • Friday’s Nonfarm Payrolls along with Unemployment Rate will be the most important economic data releases this week.
  • On Monday we will get the ISM Manufacturing PMI and on Wednesday the ISM Non-Manufacturing PMI will be released.
  • Wednesday’s ADP Non-Farm Employment Change number will be the first look at U.S. jobs market condition in February, before the mentioned Friday’s monthly jobs data release.
  • This week we will also have some quite important economic data releases from Australia and Canada.
  • Oil traders will surely await Thursday’s-Friday’s OPEC Meetings.

You will find this week’s the key news releases below (EST time zone). For your convenience, we broken them down per market to which they are particularly important, so that you know what to pay extra attention to, if you have or plan to have positions in one of them. Moreover, we put the particularly important news in bold. This kind of news is what is more likely to trigger volatile movements. The news that are not in bold usually don’t result in bigger intraday moves, so unless one is engaging in a particularly active form of day trading, it might be best to focus on the news that we put in bold. Of course, you are free to use the below indications as you see fit. As far as we are concerned, we are usually not engaging in any day trading during days with “bold” events on a given market. However, in case of more medium-term trades, we usually choose to be aware of the increased intraday volatility, but not change the currently opened position.

Our Market News Report consists of two different time-related perspectives. The investors’ perspective is only suitable for the long-term investments. The single economic data releases rarely cause major outlook changes. Hence, we will only see a handful of bold markings every week. On the other hand, the traders’ perspective is for traders and day-traders, because the assets’ prices are likely to react on a single piece of economic data. So, there will be a lot more bold markings on potentially market-moving news every week.

Investors’ Perspective

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Gold, Silver, and Mining Stocks

Monday, March 2

  • 10:00 a.m. U.S. – ISM Manufacturing PMI

Tuesday, March 3

  • 8:45 p.m. China – Caixin Services PMI

Wednesday, March 4

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 10:00 a.m. U.S. – ISM Non-Manufacturing PMI

Friday, March 6

  • 8:30 a.m. U.S. – Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m

Crude Oil

Monday, March 2

  • 10:00 a.m. U.S. – ISM Manufacturing PMI

Tuesday, March 3

  • 4:30 p.m. U.S. – API Weekly Crude Oil Stock
  • 8:45 p.m. China – Caixin Services PMI

Wednesday, March 4

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 10:00 a.m. U.S. – ISM Non-Manufacturing PMI
  • 10:30 a.m. U.S. – Crude Oil Inventories

Thursday, March 5

  • All Day – OPEC Meetings

Friday, March 6

  • 8:30 a.m. U.S. – Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
  • All Day – OPEC-JMMC Meetings

Stock Markets

Monday, March 2

  • 10:00 a.m. U.S. – ISM Manufacturing PMI

Tuesday, March 3

  • 8:45 p.m. China – Caixin Services PMI

Wednesday, March 4

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 10:00 a.m. U.S. – ISM Non-Manufacturing PMI

Friday, March 6

  • 8:30 a.m. U.S. – Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m

EUR/USD

Monday, March 2

  • 3:55 a.m. Eurozone – German Final Manufacturing PMI
  • 10:00 a.m. U.S. – ISM Manufacturing PMI

Tuesday, March 3

  • 5:00 a.m. Eurozone – CPI Flash Estimate y/y

Wednesday, March 4

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 10:00 a.m. U.S. – ISM Non-Manufacturing PMI
  • 1:30 p.m. Eurozone – German Buba President Weidmann Speech

Friday, March 6

  • 8:30 a.m. U.S. – Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m

USD/JPY

Friday, March 6

  • 8:30 a.m. U.S. – Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m

GBP/USD

Monday, March 2

  • 4:30 a.m. U.K. – Final Manufacturing PMI

Wednesday, March 4

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change

Thursday, March 5

  • 12:00 p.m. U.K. – BOE Governor Carney Speech

Friday, March 6

  • 8:30 a.m. U.S. – Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m

USD/CAD

Monday, March 2

  • 9:30 a.m. Canada – Manufacturing PMI
  • 10:00 a.m. U.S. – ISM Manufacturing PMI

Tuesday, March 3

  • 8:45 p.m. China – Caixin Services PMI

Wednesday, March 4

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 10:00 a.m. U.S. – ISM Non-Manufacturing PMI
  • 10:00 a.m. Canada – Overnight Rate, BOC Rate Statement
  • 2:00 p.m. U.S. – Beige Book

Thursday, March 5

  • 12:45 p.m. Canada – BOC Governor Poloz Speech

Friday, March 6

  • 8:30 a.m. U.S. – Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
  • 8:30 a.m. Canada – Employment Change, Unemployment Rate, Trade Balance
  • 10:00 a.m. Canada – Ivey PMI

AUD/USD

Monday, March 2

  • 10:00 a.m. U.S. – ISM Manufacturing PMI
  • 7:30 p.m. Australia – Building Approvals m/m, Current Account
  • 10:30 p.m. Australia – Cash Rate, RBA Rate Statement

Tuesday, March 3

  • 7:30 p.m. Australia – GDP q/q
  • 8:45 p.m. China – Caixin Services PMI

Wednesday, March 4

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 10:00 a.m. U.S. – ISM Non-Manufacturing PMI

Thursday, March 5

  • 7:30 p.m. Australia – Retail Sales m/m

Friday, March 6

  • 8:30 a.m. U.S. – Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m

Summing up, if you’re an investor and not a trader, you should pay extra attention to Friday’s U.S. monthly jobs data release. The late-week OPEC Meetings will be important for the oil traders. Plus, there will be series of important economic news releases from Australia and Canada.

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Market News Report – this analysis’ full version. The full Alert includes also the Traders’ Perspective which is very useful for the people who trade within shorter time frames. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

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Thank you.

Paul Rejczak
Stock Trading Strategist
Sunshine Profits – Effective Investments through Diligence and Care

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Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

About the Author

Paul Rejczakcontributor

Stock market strategist, who has been known for the quality of his technical and fundamental analysis since the late nineties.

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