Apr. 28, 2012 (Allthingsforex.com) – With the Fed reminding the markets that the option of more bond buying is still “very much on the table”, in the week ahead traders will continue to gauge QE3 odds, while keeping an eye on the euro and the next move by the European Central Bank, as a sequence of important economic data from the Euro-zone and the U.S. culminates with the ECB interest rate announcement and the U.S. Non-Farm Payrolls report.
In preparation for the new trading week, here is the outlook for the Top 10 spotlight economic events that will move the markets around the globe.
1. EUR- Euro-zone Flash HICP- Harmonized Index of Consumer Prices, the main measure of inflation preferred by the European Central Bank, Mon., Apr. 30, 5:00 am, ET.
With inflationary pressures forecast to subside to 2.5% y/y from 2.6% y/y, policy makers at the European Central Bank should feel comfortable enough to focus on stimulating growth and to consider additional easing.
2. USD- U.S. Personal Income and Outlays, a measure of consumer income and spending, released along with the PCE Price Index- the Fed’s preferred gauge of inflation, Mon., Apr. 30, 8:30 am, ET.
Consumer spending is forecast to increase for another month, but at a slower pace by 0.4% m/m in March from 0.8% m/m in February, while the Fed’s preferred core PCE Index inches higher by 0.2% m/m in March compared with 0.1% m/m in the previous month.
3. AUD- Reserve Bank of Australia Interest Rate Announcement, Tues., May 1, 12:30 am, ET.