05th March to 10th March 2018
We will see Markit Services and Markit PMI Composite from Euro zone first. Both reports are indicators of the economic situation in the Euro Zone services sector. Then comes the release of US Markit Services which captures business conditions in the services sector in US. The day will end with Markit PMI composite and ISM Non-manufacturing PMI which shows business conditions in the US non-manufacturing sector. Important day for Australia as RBA will release their Rate decision and rate statement. Decisions regarding this interest rate are made by the Reserve Bank Board and are explained in a media release which announces the decision after each Board meeting. Later on, a speech is scheduled by the RBA Governor Philip Lowe. Next up will be Fed's William Dudley speech. He will have an opportunity to strengthen the dollar following a hawkish testimony from FED Chair Jerome Powell Last week. The day will end with US Factory Orders for February, which is a measure of the total orders of durable and non-durable goods. It’s an important day for Canada and Europe. The Gross Domestic Product released by the Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. Then the focus shifts to US with few mid-tier reports related to US labor market. Positive figures from these reports will provide support to Friday’s all important Non-Farm payrolls. From Canada we will see the interest rate decision and Rate statement. This statement is the primary medium used by the BOC to communicate with investors about monetary policy decisions, specifically those regarding interest rates. In January, the Bank of Canada raised its interest rate by 25 basis points to 1.25 percent as analysts expected. Policymakers attributed to the strong data in the recent times. In addition, they said that the inflation is near the target and that the economy is strong. Busy day for forex market as there are some reports from china, Japan, Canada, UK and US. But Thursday is an important day for Eurozone as key decisions on interest rate and deposit rate from ECB is expected to be released. Following the ECB´s economic policy decision, the ECB President Draghi will give a press conference regarding monetary policy. His comments may influence the volatility of EUR and determine a short-term positive or negative trend. Day will end with Initial and Continuing Jobless Claims from US which are measures of the US employment market. These figures will also move the markets in favor of the Dollar and will provide support to Fridays Nonfarm payrolls. Busy end to an eventful week with important data from Euro zone, UK and US. There are some major economic data which is going to come from these three countries, where Nonfarm payrolls from US will be the focus of the day while key data from Germany and UK is expected create volatility in the markets. Early morning, we will see mid-tier reports from Germany related to Trade. These reports will indicate the imports and export market in Germany. Then comes the release of GBP Manufacturing and Industrial production which measures the outputs of the UK factories and mines. This will be followed by UK NIESR GDP estimate which is an estimate of the economic growth over the last 3 months. Then the focus shifts to US with the release of Non-farm payrolls and Average Hourly earnings will be published later in the evening. The U.S Non-farm payrolls increased by 200,000 in January after the figure for December last year was revised upward to an increase of 160,000. The reading for January beat analysts’ expectation for an increase of 180,000. Employment continued to increase in construction, food services, drinking places, manufacturing, and healthcare. Forecast for February is: 190k job additions. Also, there will be Unemployment Rate released by the US Department of Labor which is a percentage that surges from dividing the number of unemployed workers by the total civilian labor force. It represents the percentage of people actively seeking employment and willing to work.Monday
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