ECB meeting, news from the USA labour market and Great 20 meeting are the most important events of the upcoming week. Now let us consider everything in detail…

On Monday, traditionally, no important economic statistic data release is planned. All key fundamental events will take place in the second half of the week, therefore at the beginning of week the market may remain in rather a narrow range. On March 30, first of all, it is worth pointing out ECB Governor Mr. Trichet` speech before the European Parliament at 14:30 GMT.

On Tuesday, at 12:30 GMT it is worth paying attention to Canadian GDP change. After that market participants` attention will be focused on American data, namely Chicago PMI, to be released at 13:45 GMT and the Consumer Confidence Index to be issued at 14:00 GMT. The economic statistic data release will be completed on TANKAN index issue.  In Japan index of economic activity in manufacturing and non-manufacturing sector are to be issued at 23:50 GMT.

On Wednesday, during the Asian session, Australian Retail Sales and Building Approvals are to be issued at 00:30 GMT. The European session will begin with Retail Sales release in Germany at 06:00 GMT. At 08:30 GMT, PMI index for British Manufacturing sector will arouse some interest; in half an hour, market participants will learn about Euro-Zone Unemployment Rate. During the American session, please, do not miss ADP Non-Farm Employment Change to be released at 12:15 GMT, which precedes Nonfarm Payrolls issue on Friday. For 14:00 GMT the American ISM Manufacturing and the Pending Home Sales release is planned.

Thursday and Friday are the key days for fundamental analysis. On Thursday, the most essential event is ECB rate decision announcement at 11:45 GMT, to be followed by ECB Governor Trichet`s press-conference at 12:30 GMT. Let me remind you that currently the base rate in Europe is at 1.50%. Most of analysts share the opinion that on Thursday we will see the rate lowering down to 1%. Anyway, the day will be very volatile. You can get familiar with dynamics of the base interest in Euro-Zone through the following diagram:

Moreover, it is worth directing your attention to traditional weekly index of American Jobless Claims at 12:30 GMT and Manufacturing Requests in the USA at 14:00 GMT.

On Friday, the major event will be the American Nonfarm Payrolls release for last month. Let me remind you that currently the index has been negative for fourteen running months. On Friday, according to predictions, it will be reported about reduction of employed people by about 650…660 thousand people in January, which cannot help arousing investors` concern. You can trace the index dynamic by the following diagram:

In addition, on April 2, G20 Summit begins in London, where leading developed and developing countries of the world will assemble. Therefore it is required to trace the summit news which may contribute to further development of the situation in world financial markets.

Have a nice day! Alex Sabodin.                                                       

Pro Finance Group Inc.