Monday, 6 March 2017

US key events to watch this week

Posted by Fort Financial Services at 11:19 Labels:

Monday
Event: Factory Orders (Jan) 15:00 GMT
Right now, both the Federal Reserve and investors are holding tight until getting further details on the state of the economy. Factory orders for January could be a good indicator on how the country has been doing since Donald Trump moved to the White House. A rise in orders would indicate that manufacturers are getting busier while consumers are stepping up their spending.

Tuesday
Event: Trade Balance (Jan) 13:30 GMT
International relations between the Trump administration and other countries has been hitting hard on the headlines since January. But what’s the actual impact in commerce? That’s why you shouldn’t miss the trade balance on Tuesday. A positive figure shows that the number of goods and services exported was larger than the imported ones.

Wednesday
Event: ADP Nonfarm Employment Change (Feb) 13:15 GMT + EIA Crude Inventories 15:30 GMT
While official employment figures will be available on Friday, ADP will publish its own measure on the nonfarm employment conditions for February. This report usually anticipates the outcome of real data. Taking a look at the commodity front, market players will keep an eye on crude oil inventories from the US Energy Information Administration.

Thursday
Event: Initial Jobless Claims 13:30 GMT
Before Fed’s next meeting, every single figure matters, especially those reporting on labor market. Initial jobless claims for last week will be out during the afternoon. Last week, a much smaller-than-expected number of people applied for unemployment benefits. Is this trend going to continue or was it only a one-week stand?

Friday
Event: Nonfarm Payrolls & Unemployment Rate (Feb) - 13:30 GMT
Someone said the best things come at the end. At that person was hell right. The most relevant data will be published on Friday. At 13:30 GMT, the Bureau of Labor Statistics will release average hourly earnings, nonfarm payrolls and the unemployment rate for February. These reports are expected to play a huge role in next week’s FOMC monetary meeting. Especially considering that a vast majority of Fed officials (including Janet Yellen) have expressed support to a possible rate hike this month if the economy continued to perform well in terms of inflation and labor market conditions. Also, the regulator is set to release its latest reading on the federal budget balance, with analysts pointing at -$150 billion.

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