Friday, 3 February 2017
Weekly Outlook: Feb 6 - Feb 10
Key event: Japan's Labor Cash Earnings + German Factory Orders
Investors will have to get up early on Monday if they intend to trade Asian hours. Japan Labor and Real Cash Earnings for December will be published at 0:00 GMT. In Europe, focus will be at the German Factory Orders for Dec, which last month decreased by 2.5 percent. Markit will release its Construction and Retail PMI for January at 08:30 GMT and 09:00 GMT respectively.
Key event: BRC UK Retail Sales Monitor + German Industrial Production + US Trade Balance
Chinese market is reopening after a week-long Lunar New Year holiday, with Caixin Services PMI for January scheduled at 01:45 GMT. Tuesday is posed to be the busiest day of the week, with UK BRC Retail Sales Monitor for January set to be released first thing in the morning. These figures provide some further understanding on how the British retailers are handling the ‘Brexit issue’. At 8.30 GMT, Halifax House Price Index for January will also be out. US Trade Balance for December is scheduled at 13:30 GMT. Last month, foreign deficit came in at -45.20 billion dollars. JOLTs job openings for December are due at 15:00 GMT. Japan will release its Bank Lending and Foreign Reserves for January, together with the BOJ summary of opinions for its latest monetary meeting as of 23:50 GMT.
Key event: MBA Mortgage Applications + API Inventories + Japan Housing Loans
The demand for mortgage applications is a key indicator of the US economy. MBA Mortgage Applications will be released at 12:00 GMT on Wednesday. Also, the American Petroleum Institute will anticipate crude stockpiles for the week ended February 3 at 15:30 GMT, after reporting a build in the prior week. The Japanese government will present Foreign Investment on Japan stocks and government bonds (until Feb 3), as well as Machine Orders for Dec at 23:50 GMT.
Key event: US Jobless Claims + US Crude Inventories
Thursday is expected to be a light day for economic news. Focus will be placed at two events: weekly jobless claims at 13:30 GMT and official crude inventories at 15:00 GMT. Last week, the US Energy Information Administration a build in crude stockpiles of 6.5 million barrels for the week ended January 27, well above an estimated 2.6 million barrels increase. The weekly report Gasoline and distillate inventories also added 3.87 and 1.57 million barrels respectively.
Key event: UK Industrial and Manufacturing Production + Trade Balance + US Federal Budget
The week ends with a fresh batch of economic data, both in Europe and the US. As for the first, UK Industrial and Manufacturing Production Indexes for December will be out at 09:30 GMT, followed by Trade Balance figures. US Export and Import Price Indexes are set to be released at 13:30 GMT. Michigan Consumer Expectations and Sentiment are scheduled at 15:00 GMT and the US government will present its Federal Budget Balance for January at 19:00 GMT. Commodity traders will also pay close attention to Baker Hughes oil rig count at 17:00 GMT.