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The Week Ahead: Anyone For Golf?

Everything will probably take a back seat next week as the media scramble for the first summit between Donald Trump and Xi Jinping. They will meet at Trump’s Mar-a-Lago retreat in Florida.

Donald Trump has indicated that the meeting will be “very difficult”, which doesn’t appear to suggest that the leaders of the world’s two largest economies will be playing a round of golf. China is hoping that the meeting could be a “new starting point” for relations between the two countries.

Staying in America, the US will report Balance of Trade numbers for February. This is likely to show that the US has been importing more than it exports. That is not going to go down well, as President Trump prepares for his chat with President Xi.

The US will also report Non-Farm Payroll and Unemployment Rate for March. Anything more than 180,000 in Non-Farm Payroll numbers and an unemployment rate of less than 4.7% should keep markets on an even keel.

The latest PMI numbers from China appear to show that factory activity continues to expand but at a slower rate. Services have grown too. There should be more data on the services industry when the Caixin Services PMI numbers are released on Thursday.

And finally, the Governor of the Bank of England will speak at Thomson Reuters on Friday. The UK central bank is set to put the seven largest banks through an additional examination to test how lenders would fare if the economy experienced a severe shock.

 

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