In the US, retail sales and industrial production numbers for March will provide an insight into the early impact of the coronavirus pandemic on the world's largest economy, with forecasts pointing to a record fall in trade and to the steepest decline in output since September 2008. Other notable publications are housing starts and building permits, as well as foreign trade prices, business inventories, NY Empire State Manufacturing Index, Philadelphia Fed Manufacturing Index, NAHB Housing Market Index and the weekly jobless report.
Meanwhile, the first-quarter earnings season will kick off next week, starting with reports from health care companies such as Johnson & Johnson and Abbott, and major banks including JPMorgan Chase, Wells Fargo, Goldman Sachs, Citigroup and Bank of America.
Elsewhere in America, the Bank of Canada will decide on interest rates and publish its Monetary Policy Report on Wednesday. Also, key economic data to follow include Canada ADP employment change and manufacturing sales; Brazil monthly economic activity; and Argentina inflation rate.
Across the Atlantic, the Bank of England will release its first-quarter credit conditions survey. Elsewhere, the Eurozone consumer price report will probably confirm the inflation rate in March slowed to its lowest level in five months and well below the ECB's target of just below 2 percent, amid the Covid-19 outbreak and an oil price war between Saudi Arabia and Russia. Investors will also keep an eye on the bloc's industrial and construction output; Italy foreign trade; Germany wholesale prices; Sweden inflation rate; the Netherlands unemployment rate; Switzerland producer and import prices; and Turkey retail sales, industrial activity and current account.
In Asia, all eyes are on China's first-quarter GDP figures, with forecasts pointing to the sharpest pace of contraction since at least 1989 as the Covid-19 pandemic hit the economy. The country’s trade balance will also be in the spotlight, with markets expecting a fall in both exports and imports. Other important releases include foreign direct investment, industrial production, retail sales, fixed asset investment and house price index. Meanwhile in Japan, investors will focus on February’s final reading of industrial production, tertiary industry index and Reuters Tankan index. Australia will be publishing employment figures, NAB business confidence and Westpac consumer confidence.
South Korea will hold a general election on Wednesday, with President Moon Jae-in's left-leaning Democratic Party leading in the opinion polls in part due to the government's handling of the coronavirus pandemic. The country's unemployment rate and foreign trade prices will also be in the spotlight.
The Reserve Bank of India will be releasing the minutes of its last monetary policy meeting. On the economic front, key data for India includes consumer and wholesale prices and trade balance. Other highlights for the Asia-Pacific region include: Indonesia interest rate decision and trade balance; Singapore non-oil exports; and New Zealand business NZ PMI.
Market players will also react to OPEC's monthly report and IEA's oil market report.