Important events of this week include a discussion on the European migration crisis, OPEC+ monitoring committee meeting and the Fed interest rate decision.
Dear traders! Due to the COVID-19 coronavirus pandemic, we recommend you to follow several important rules on safety:
- avoid all nonessential trips and going out;
- avoid public events and other crowded places;
- put distance of at least 1 meter between yourself and other people when communicating;
- do not shake hands, hug or kiss;
- wear antiseptic or disposable gloves at the shop;
- wash your hands thoroughly as often as possible;
- avoid touching your face.
We wish you good health!
Major Events on the Economic Calendar
- China releases a report on the country’s industrial production on March 16.
- The US releases data on retail sales on March 17.
- The US Federal Reserve releases the interest rate decision on March 18.
- Australia reports on the employment rate on March 19.
- The US releases a report on existing home sales on March 20.
March 17. The Refugee Problem
Turkish President Recep Erdogan will meet French and German leaders Emmanuel Macron and Angela Merkel in Istanbul. The migration issue will be one of the most important topics of discussion.
We remind you that Turkey had received tens of thousands of migrants for a long time from the Middle East and other countries. However, during the escalation of the Syrian crisis, the country stopped being a buffer zone and opened its borders for refugees to reach Europe. The main burden fell on Greece.
March 18. A Chance for Opec+. The Tariff War
A working meeting of the still active OPEC+ monitoring committee is to be held on March 18. Perhaps, petroleum exporting countries will try to find a new compromise on the black gold market.
Recall: OPEC and non-OPEC countries failed to agree on additional oil production cuts on March 6. Russia and Kazakhstan were categorically against it. The incident caused the collapse of oil prices, which dropped by almost 30%.
The US will raise duties on European aircraft. This decision was made last year as part of the trade dispute between Washington and Brussels. According to the US authorities, the European Union was too active in supporting Airbus production.
March 20. China May Lift the Quarantine on Hubei Province
The enterprises that have remained under quarantine in China’s Hubei province may resume operations. The only production facilities that have been officially allowed to operate until that day are those necessary for ensuring normal human functioning. If the ban is lifted, markets will take it as another signal of normalization of situation in China.