31 March Week Ahead: PMI, Tariffs, Labour & More

As March draws to a close and April looms on the horizon, traders and investors may want to stay alert to key economic and financial events this week, as they could offer valuable insights into what lies ahead for the markets. 

From PMI data to tariffs and labour market updates, here’s a quick rundown of the crucial events to watch for in the coming days:

Global PMI Report

This week, Purchasing Managers Index (PMI) data from some of the world’s largest economies will be released.

PMI is a critical economic indicator that gauges the health of a country’s manufacturing and services sectors. As such, it plays a key role in shaping monetary policy decisions by central banks and can significantly impact market sentiment.

The key PMI releases to watch for are as follows:

Monday, 31 March:

• China (Mainland) NBS PMI (Mar)

Tuesday, 1 April:

• Worldwide Manufacturing PMIs, incl. global PMI (Mar)

• United States ISM Manufacturing PMI (Mar)

Wednesday, 2 April:

• ASEAN Manufacturing PMI (Mar)

• India HSBC Manufacturing PMI (Mar)

Thursday, 3 April:

• Worldwide Services, Composite PMI, inc. global PMI (Mar)

• S&P Global Sector PMI (Mar)

• United States ISM Services PMI (Mar)

Friday, 4 April:

• India HSBC Services PMI (Mar)

• Eurozone HCOB Construction PMI (Mar)

• United Kingdom S&P Global Construction PMI (Mar) (Source: SPGlobal)

More Trump Tariffs Ahead?

US President Donald Trump is set to announce a broad set of tariffs, including "reciprocal" levies on other countries, on Wednesday, 2 April. 

Trump has referred to the move as a "Liberation Day" for the US economy. The announcement is expected to intensify uncertainty surrounding the future of the world’s largest economy and financial markets.

Moreover, these tariffs have led Wall Street analysts to revise down their economic and corporate earnings forecasts.

Interestingly, last week Trump announced 25% tariffs on auto imports, a move that is expected to “add thousands of dollars to the average cost of a vehicle in the US.” (Source: Reuters)

US Jobs Report

The US jobs report, another crucial economic indicator, is due for release on Friday, 4 April, and is expected to show slower employment growth, further intensifying economic concerns. 

In the meantime, consumer confidence sharply declined in March, fuelled by fears of a potential recession and inflation caused by tariffs. 

With these reports in mind and the outlook for futures markets, analysts predict ongoing volatility in April, following a difficult March, as investors await clarity on the evolving tariff situation.

More Reports

Monday, 31 March:

• Germany Retail Sales (Feb)

• United Kingdom Mortgage Lending and Approvals (Feb)

• Italy Inflation (Mar, prelim)

• Germany Inflation (Mar, prelim)

• South Korea Industrial Production (Feb)

• Japan Industrial Production and Retail Sales (Feb)

Tuesday, 1 April:

• Japan Unemployment Rate (Feb)

• Australia RBA Interest Rate Decision

• United Kingdom Nationwide Housing Prices (Mar)

• Eurozone Inflation (Mar, flash)

• Eurozone Unemployment Rate (Feb)

Wednesday, 2 April:

• United States Factory Orders (Feb)

Thursday, 3 April:

• Australia Trade Balance (Feb)

• Canada Trade (Feb)

• United States Trade (Feb)

Friday, 4 April:

• Germany Factory Orders (Feb) Trade (Feb)

• Canada Unemployment Rate (Mar)

Conclusion

As April begins, the financial landscape remains uncertain, with key events like the US jobs report, PMI data, and potential new tariffs from President Trump creating a volatile environment for traders and investors. Keeping an eye on these developments will be crucial for navigating the markets in the weeks ahead.

*Past performance does not indicate future results.