THREAD: The scale of global job losses caused by the coronavirus pandemic will become more apparent this week: U.S., Japan, Germany, Italy and the euro region as a whole will release labor market data that will reflect some of the impact of the virus
trib.al/xIIS7Ey
trib.al/xIIS7Ey
The March U.S. jobs report on Friday will be the first to reflect the impact of business shutdowns to prevent the coronavirus’s spread, but the numbers – largely based on the week ending March 14 – probably preceded the worst impact trib.al/xIIS7Ey
Readings on U.S. consumer confidence and ISM surveys of manufacturers and service companies will show the extent of the virus’s hit on sentiment trib.al/xIIS7Ey
In Asia, the week kicks off with a monetary policy decisions in Singapore, which uses the currency instead of rates as its main tool and is expected to take aggressive steps to ease policy in order to reduce the pace of appreciation in the local dollar trib.al/xIIS7Ey
Tuesday’s China PMI readings for March will be closely monitored for signs the world’s No. 2 economy is starting to recover from its cratering in January and February trib.al/xIIS7Ey
On Wednesday, South Korean trade figures will be watched as a barometer of global commerce trib.al/xIIS7Ey
A slump in oil prices sent euro-area inflation tumbling in March, data due Tuesday is set to show. While a rate closer to zero than 2% would normally spark talk of more monetary stimulus, economists, investors – and maybe even ECB policy makers – may just shrug off the reading
The central bank of Egypt, the Middle East’s fastest-growing economy, is expected to hold steady on Thursday after a record 300-basis-point interest-rate reduction at an emergency meeting following the Federal Reserve’s cut to zero trib.al/xIIS7Ey
Colombia’s central bank on Monday publishes the minutes of its policy meeting held Friday, where the board cut its key rate for the first time in 2 years. All 5 of Latin America’s major central banks have reduced borrowing costs this month trib.al/xIIS7Ey
A day later, Chile’s central bank meets just two weeks after cutting its key rate by 75 basis points – the biggest reduction since the global financial crisis – at an unscheduled emergency meeting trib.al/xIIS7Ey
Read @_DavidGoodman’s full preview of what is coming up in the world economy: trib.al/xIIS7Ey
