The CORVID-19 outbreak has paralyzed the global economy and led to sharp volatility in the currency markets. In the upcoming week, we’ll get a look at manufacturing PMIs in China and the U.S, British GDP as well as U.S. nonfarm payrolls. The Bank of Canada slashed rates from 0.75% to 0.25%, as major central banks continue to ease policy in order to stabilize the financial markets. British CPI dipped from 1.8% to 1.7%, while German and eurozone services PMIs pointed to sharp contraction. The U.S. dollar was broadly lower last week, following a staggering figure for unemployment claims, which hit 3.2 million. This was due to the shutdown of many factories and businesses across the country. GDP for Q4 showed a 2.1% in the third estimate, confirming the previous estimate. German Preliminary CPI: All Day. German inflation came in at 0.4% in February, matching the forecast. The estimate for the initial March reading stands at 0.0%. Chinese Manufacturing PMI: Tuesday, 1:00. The CORVID-19 outbreak caused a massive slump in manufacturing in February, as the PMI plunged to 35.7 points. This was down from 50.0 in January and well below the estimate of 45.1 points. The index is projected to improve to 44.9, which still points to contraction. UK Final GDP: Tuesday, 8:30. Economic growth rebounded in Q3 with a gain of 0.4%, after a decline of 0.2% in Q2. However, the estimate for Q4 stands at 0.0%, which points to a lack of growth. Eurozone Inflation: Tuesday, 9:00. The final reading for January CPI came in 1.2%, confirming the initial estimate. The initial estimate for March stands at 0.8%. Canadian GDP: Tuesday, 12:30. Canada releases GDP on a monthly basis. In December, the economy grew 0.3%, its best month since April. Will the upswing continue in January? US ISM Manufacturing PMI: Wednesday, 14:00. The last two readings have been just above the 50-level, which separates expansion from contraction. However, the index is expected to slow to 46.0 in the upcoming reading. U.S. Employment Reports: Friday, 12:30. Wage growth is expected to dip from 0.3% to 0.2% in March. Investors are bracing for a rare decline in nonfarm payrolls, with an estimate of -81 thousand. The unemployment rate, which was 3.5% in February, is expected to climb to 3.8%. US ISM Non-Manufacturing PMI: Friday, 14:00. The services sector has looked strong, with the PMI continuing to post readings well above the 50-level. However, analysts are braced for a sharp slowdown in March, with an estimate of 48.0 points. Follow us on Sticher or iTunes Further reading: EUR/USD forecast – for everything related to the euro. GBP/USD forecast – Pound/dollar analysis USD/JPY forecast – the outlook for dollar/yen AUD/USD forecast – projections for the Aussie dollar. USD/CAD forecast – Canadian dollar predictions Safe trading! Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher MajorsUS Dollar Forecast share Read Next AUD/USD begins the week on the back foot, seesaws near 0.6150 amid risk-off FX Street 2 years The CORVID-19 outbreak has paralyzed the global economy and led to sharp volatility in the currency markets. In the upcoming week, we'll get a look at manufacturing PMIs in China and the U.S, British GDP as well as U.S. nonfarm payrolls. The Bank of Canada slashed rates from 0.75% to 0.25%, as major central banks continue to ease policy in order to stabilize the financial markets. British CPI dipped from 1.8% to 1.7%, while German and eurozone services PMIs pointed to sharp contraction. The U.S. dollar was broadly lower last week, following a staggering figure for unemployment claims, which hit… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.