Markets will remain focused on any signs of de-escalation in the Middle East, after the US postponed its military response until after the coming week. The suspension of exports from the Persian Gulf continues to pose a risk to global growth.
In the US, where the trading week will be shortened by the Easter holiday, the key release will be the jobs report. The ISM Manufacturing survey will also be closely watched for evidence of how higher energy prices are affecting goods producers.
The impact of elevated energy costs will likewise be central in Europe, with the eurozone’s first inflation reading since the start of the conflict. In China, both the official and broader PMI gauges will provide the first major data snapshot for the world’s second-largest economy and largest energy importer.
On the monetary policy front, minutes and meeting details are scheduled from the Bank of Japan (BoJ), Reserve Bank of Australia (RBA), and Bank of Canada (BoC).
