US Elections, General

Week Ahead: Major macro events broken up by major earnings

George Walker, Friday, 5 February 2021

MKT-7109_WA-Earnings_blog


The week starts on a relatively quiet note with Unemployment data from Switzerland and an Industrial Production update from Germany being the only notable released Monday morning.

In the early hours of Tuesday morning, we get the Reserve Bank of New Zealand’s inflation expectations, which could see volatility in the NZD as inflation figures may influence monetary policy set out by the Central Bank. Import and Export numbers from China hit the wires overnight, followed by the same from Germany an hour before European market open.


Is demand growing for oil?

Oil inventory data could move prices, which have been trading near one-year highs. The API Weekly Crude Oil Stock on Tuesday evening, as well as the EIA Crude Oil Stocks Change figures will show the amount of oil in storage in the US. Generally, the more oil in storage, the lower the demand, so better or worse numbers will be worth monitoring if investing in black gold.

CPI and its domino effect

Next up, we get three major Consumer Price Index releases from China overnight, Germany during the morning, and finally the US in the early afternoon Wednesday. The Peoples Bank of China has already shown signs of tightening monetary policy as a result of continued steady recovery. Inflation is one of the main reasons central banks will look to tighten policy, so CPI figures are important this week.

Bank of England Governor Andrew Bailey speaks in the afternoon, which may cause volatility in GBP.

Initial and Continuing Jobless Claims data out of the US are the only notable releases on Thursday as investors and traders alike continue to monitor the health of the employment market in the world’s largest economy.

The final trading day of the week sees all macroeconomic action in the morning. Preliminary Gross Domestic Product, along with Industrial and Manufacturing Production numbers from the UK could indicate if the UK economy is recovering as quickly as expected. Swiss CPI and Industrial Production numbers from the Eurozone round off the data for the week.

 

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