Economic Calendar – Markets Pause in Anticipation of U.S. Tariff Announcement
Today we will learn the long-awaited list of tariff rates set by the Trump administration at 20:00 GMT. Earlier, the first labor market report for March, ADP, and durable goods orders will be published.
In recent weeks, financial markets have been practically dictated by new announcements regarding U.S. tariff rate levels. Today, we are expected to receive the final list of tariffs, which, according to the Trump administration, are intended to act as a cap. According to U.S. Treasury Secretary Bessent, these tariffs represent a maximum level, and the countries affected may later take steps to reduce them. This is probably the most important event since Donald Trump’s inauguration as president in January of this year.
In addition, we will also receive labor market data. The ADP report is expected to show a slight increase to 115k compared to the drop to 77k last month. Just under two hours later, we will get the U.S. durable goods orders report for February.
Detailed calendar of the day:
10:30 AM GMT, Euro Zone – ECB’s Schnabel Speaks
12:15 PM GMT, United States – Employment Data for March:
- ADP Nonfarm Employment Change: forecast 118K; previous 77K;
02:00 PM GMT, United States – Durable Goods for February:
- Factory orders ex transportation: forecast 0.7% MoM; previous 0.2% MoM;
- Factory Orders: forecast 0.5% MoM; previous 1.7% MoM;
- Durables Excluding Defense: forecast 0.8% MoM; previous 0.8% MoM;
- Durables Excluding Transport: previous 0.7% MoM;
02:00 PM GMT, Euro Zone – ECB’s Lane Speaks
02:30 PM GMT, United States – EIA Data:
- EIA Weekly Distillates Stocks: previous -0.421M;
- Crude Oil Inventories: forecast -0.400M; previous -3.341M;
- Gasoline Inventories: previous -1.446M;
06:45 PM GMT, Euro Zone – ECB President Lagarde Speaks
08:00 PM GMT, United States – U.S. President Trump Speaks, new round of tariffs – “Liberation Day”
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