Friday, 24 February 2017
Weekly Outlook: Feb 27 - Mar 03
As usual, the first day of the week is not considered to be strong from a data perspective. In America, US durable goods orders will be out at 13:30 GMT and expectations point to a 1.9 percent build. Pending home sales for January are expected at 15:00 GMT. Japan’s industrial production and retail sales are due at 23:50 GMT.
German retail sales for January kick off the session at 07:00 GMT, followed by a batch of French economic reports at 07:45 GMT, including January’s CPI and HICP and fourth-quarter GDP. As of 10:00 GMT, the euro bloc will present its latest CPI data. In the United States, economic growth rate is also on the scheduled and it’s coming at 13:30 GMT, together with goods trade balance for January. Conference Board’s consumer confidence is due at 15:00 GMT, with analysts anticipating a reduction to 110.9 points from a previous 111.8. However, the key event of the day will certainly be President Donald Trump speech at 21:00 GMT.
Well, if you are feeling tired. Better stay in bed, because Wednesday is going to be a crazy day for economic reports. Manufacturing PMIs will be all over you. China will present official manufacturing and non-manufacturing PMIs at 01:00 GMT, while Caixin manufacturing will be available 45 minutes later. As for Europe, UK is first on the list with Nationwide HPI for February at 07:00 GMT. In Germany, manufacturing data will be out at 08:55 GMT, followed by unemployment rate, which is expected to remain steady at 5.9 percent. Markit will release UK’s manufacturing PMI at 09:00 GMT and Germany’s half an hour later. Bavarians will have a busy day, because a preliminary version of February’s CPI is due at 13:00 GMT, with analysts pointing at a 0.5 percent build. US traders are not getting any less than others. Core PCE price index for January will be release at 13:30 GMT, together with personal spending data. Markit PMIs are scheduled at 14:45 GMT, while the Institute of Supply Management (ISM) has set its own version at 15:00 GMT. US Energy Information Administration will publish its weekly crude oil inventories at 15:30 GMT and the Fed will present the Beige book at 19:00 GMT.
Only one more day to rest! For those trading in European hours, keep an eye on Switzerland’s fourth-quarter gross domestic product (GDP) at 06:45 GMT and retail sales for January as of 08:15 GMT. Expect some extra volatility in the CHFUSD. Construction PMI for February in the UK will be out at 09:30 GMT and it’s likely to attract a lot of attention. Eurozone will release its inflation statistics for January at 10:00 GMT, with analysts pointing at yearly rate of 2.0 percent from a previous 1.8 percent. Unemployment will be presented at the same time and economists forecasted a drop to 9.5 percent.
Finally. The week comes to an end but first, PMI reports for the service sector. China’s Caixin Services PMI will be out at 01:45 GMT. Markit will release PMIs in Italy, France, Germany and the Eurozone starting at 08:45 GMT. UK’s services PMI will be available at 09:30 GMT. EU retail sales for January are also scheduled on Friday at 10:00 GMT. As for the United States, Markit composite and services PMI will be published at 14:45, followed by ISM non-manufacturing PMI at 15:00 GMT. Baker Hughes is due at 18:00 GMT.