The Week Ahead 06 – 10 March

indigofx_weeklyupdate
Fed Chair Janet Yellen may lift the interest rates this Friday

Last week, we witnessed record highs in the markets; the US Dollar found stronger ground last week following a number of positive economic releases, with jobless claims being the biggest portraying another improvement with more people employed which in turn contributes to economic growth. Across the pond, attention is back on Theresa May as she prepares the Brexit strategy. Brexit on, Brexit off! Well, Brexit is getting more and more real. Prime minister May is still strongly committed to starting the process of leaving the EU by the end of the month despite last week’s disappointing loss in the House of Lords which may well be a setback for the Prime Minister. This week major events will be the European Central Bank meeting and the US jobs report. Non-Farm payroll this week which will be even more important than usual. Money markets imply a 90% chance of hike this month. Fed Chair Janet Yellen may lift the interest rates this Friday. It will surely become a certainty if economic data meets or beats expectations on Friday. Let’s have a look at the data which could potentially move the markets this week.

Monday

  • 11:30 UK MPC member Hogg speech
  • 15:00 US Factory orders (MoM, Jan) was 1.3 and is expected to fall to 1.2.

Tuesday

  • 08:30 UK Halifax House Price Index (MoM) Feb
  • 08:30 UK Halifax House Price Index (YoY) Feb
  • 09:00 Eurozone German Factory Orders (MoM) Feb
  • 10:00 Eurozone GDP (YoY) (Q4)
  • 10:00 Eurozone GDP (QoQ) (Q4)

Wednesday

  • 07:00 Eurozone German Industrial Production (MoM) (Jan)
  • 13:15 USD ADP Nonfarm Employment Change (Feb)
  • 13:30 USD Nonfarm Productivity (QoQ) (Q4)
  • 13:30 USD Unit Labor Costs (QoQ) (Q4)
  • 15:30 USD Crude Oil Inventories

Thursday

  • 00:01 UK RICS House Price Balance (Feb)
  • 12:45 Eurozone Deposit Facility Rate
  • 12:45 Eurozone ECB Interest Rate Decision (Mar)
  • 13:30 USD Export Price Index (MoM) (Feb)
  • 13:30 ECB Import Price Index (MoM) (Feb)
  • 13:30 Eurozone ECB Press Conference

Friday

  • 07:00 Eurozone German Trade Balance (Jan)
  • 09:30 UK Industrial Production (YoY) (Jan)
  • 09:30 UK Industrial Production (MoM) (Jan)
  • 09:30 UK Manufacturing Production (MoM) (Jan)
  • 13:30 USD Average Hourly Earnings (MoM) (Feb)
  • 13:30 USD Nonfarm Payrolls (Feb)
  • 13:30 USD Participation Rate (Feb)
  • 13:30 USD Private Nonfarm Payrolls (Feb)
  • 13:30 USD Unemployment Rate (Feb)
  • 15:00 UK NIESR GDP Estimate
  • 19:00 USD Federal Budget Balance (Feb)