US key events to watch this week

Monday
Event: US President Trump Speech 23:30 GMT
All eyes on Washington, well… more like Louisville, Kentucky this time. That’s right. President Donald Trump will be holding a rally at city’s Freedom Hall on Monday. This is not the first time Trump visits Louisville. During his presidential campaign, he offered two conferences. While investors are not expecting something extraordinary from this event, Trump could unveil some further details on his economic agenda to create positive buzz.

Tuesday
Event: FOMC Dudley 10:00 GMT + George 16:00 GMT + Mester 22:00 GMT
As the Federal Open Market Committee raised interest rates last week by 25 basis points, market focus has now turned to the future plans of the regulator. For this reason, investors will be paying close attention to speeches from FOMC officials. On Tuesday, Fed Bank of New York Governor William Dudley will be talking as of 10:00 GMT, followed by Kansas City Fed President Esther George at 16:00 GMT. Cleveland Fed President Loretta Mester is expected to participate at the Business Speaker Series of the University of Richmond Robins School as of 22:00 GMT.

Wednesday
Event: Existing Home Sales 14:00 GMT + EIA Crude Inventories 14:30 GMT
Real estate is a key sector for the US economy and therefore, all data related to it attracts large attention. At this stage, market players are expecting to see 1.8 percent reduction for February from a previous increase of 3.3 percent. Overall, home sales are a good indicator of economic strength and the Federal Reserve will take it into account to define or adjust the course of its monetary policy. Also in the day, the US Energy Information Administration will release its latest report on crude and refined products inventories. These figures will certainly be on the spotlight after last week’s unexpected crude stockpiles reduction.

Thursday
Event: Jobless Claims 12:30 GMT + New Home Sales 14:00 GMT + Fed Yellen 12:45 GMT
Last week’s read on jobless benefits applications will be released at midday. Following existing home sales, new home sales figures will be available on Thursday, with analysts forecasting a 0.6 percent build for February. Another batch of FOMC officials will be speaking during the session, although traders will be focused on Fed Chair Janet Yellen’s speech at the Federal Reserve System Community Development Research.

Friday
Event: Durable Goods Orders 12:30 GMT + Manufacturing & Services PMI 13:45 GMT
The week couldn’t end without an exciting set of data. Durable goods orders for February will be available at 12:30 GMT. Economists are estimating a 1.2 percent build month-over-month. Also, Markit will release preliminary manufacturing and services PMI indexes for March, with expectations pointing at 54.8 and 54.3 points respectively. FOMC members Bullard and Dudley will be offering some keynotes during the day. Baker Hughes oil rig count is set at 18:00 GMT.