US Elections, General

Week Ahead: macroeconomic events you need to follow

George Walker, Friday, 26 February 2021

Week Ahead: macroeconomic events you need to follow
We start this busy week with a plethora of manufacturing PMI data from China, Germany, and the Eurozone, the UK, Canada, and the United States. Manufacturing makes up a large proportion of a country’s GDP and could set the tone for the first trading day.

We also expect Consumer Price Index inflation figures from Germany in the afternoon, followed by Japanese Employment data later in the evening.

 

Eurozone in focus on Tuesday

As we move into Tuesday, we have an Interest Rate Decision from the Reserve Bank of Australia overnight, with rates expected to remain at 0.10%. A focal point for those who trade the aussie will be on the central bank’s accompanying statement. Will they commit to keeping monetary policy in place for the foreseeable future, or has the economy recovered enough to hint at a return to normal rates again?

German Retail Sales and the Unemployment Rate could move the euro, as European markets open for trading on Tuesday, as well as a preliminary Consumer Price Index reading for the Eurozone. Canadian GDP figures in the early afternoon will complete Tuesday’s macroeconomic updates.

The aussie comes back into focus overnight into Wednesday with Gross Domestic Product data. Although the GDP reading comes just 24 hours after the rate decision, better or worse than-expected numbers could still drive volatility, so traders will need to be mindful of this.

We are hit with another round of Services PMI data on Wednesday from China, Germany, the UK, and the United States. Like the Manufacturing PMI earlier in the week, Services PMI also contributes towards GDP and could help indicate the health of a country’s economy. ADP Employment figures may be worth watching in the afternoon as a prelude to the NFP on Friday.

More data is released from Australia overnight in the form of Imports, Exports and Retail Sales.

 

PMI numbers roll on

The euro could see price action throughout Thursday morning with Services PMI, an Economic Bulletin, Retail Sales, and Unemployment data. European indices could also be affected by these releases, so Thursday could be one to monitor closely. Finally, Initial and Continuing Jobless Claims from the US wrap up Thursday’s events.

 

Is the US job market turning around?

As always, the first Friday of the month sees the release of the Nonfarm Payroll jobs data from the US. This remains one of the most volatile macroeconomic data releases for currency traders, and potentially more so following the renewed focus on US employment by the Federal Reserve. Traders will need to make a note of this at 13:30 GMT as we may see large spikes in a short time after the announcement. Headline numbers are important, as are any revisions to previous figures.

All times indicated are GMT.

 


ECONOMIC CALENDAR

(All times are GMT)

Monday, 1st March

00:00 AUD TD Securities Inflation
00:30 JPY Jibun Bank Manufacturing PMI
01:45 CNY Caixin Manufacturing PMI
07:30 CHF Real Retail Sales
08:55 GER Markit Manufacturing PMI
09:00 EUR Markit Manufacturing PMI
13:30 GER Consumer Price Index
13:30 GER Harmonised Index of Consumer Prices
14:00 USD Fed’s Williams Speech
14:30 CAD Markit Manufacturing PMI
14:45 USD Markit Manufacturing PMI
15:00 USD Markit Manufacturing PMI
15:00 USD ISM Manufacturing PMI
15:00 USD ISM Manufacturing Prices Paid
15:00 USD ISM Manufacturing New Orders
15:00 USD ISM Manufacturing Employment Index
23:30 JPY Unemployment Rate
23:30 JPY Jobs/Applicants Ratio

UK Company Announcements:

Aggreko

US Company Announcements:

Zoom Video Communications
NIO
Novavax

Tuesday, 2nd March

00:30 AUD Building Permits
00:30 AUD RBA Interest Rate Decision
00:30 AUD RBA Rate Statement
07:00 GER Retail Sales
08:55 GER Unemployment Rate
08:55 GER Unemployment Change
10:00 EUR Consumer Price Index Preliminary
10:00 EUR Consumer Price Index – Core Preliminary
13:30 CAD Gross Domestic Product
13:30 CAD Gross Domestic Product Annualised
13:55 USD Redbook Index
21:30 USD API Weekly Crude Oil Stock
21:30 AUD AiG Performance of Construction Index
21:45 NZD Building Permits
22:00 AUD Commonwealth Bank Services PMI
22:00 AUD Commonwealth Bank Composite PMI

UK Company Announcements:

Fresnillo
Intertek Group
Taylor Wimpy
Travis Perkins
Ashtead

US Company Announcements:

Sea Limited
Target Corporation
Veeva Systems

Wednesday, 3rd March

00:30 JPY Jibun Bank Services PMI
00:30 AUD Gross Domestic Product
01:45 CNY Caixin Services PMI
07:30 CHF Consumer Price Index
08:55 GER Markit Services PMI
08:55 GER Markit PMI Composite
09:00 EUR Markit PMI Composite
09:30 GBP Markit Services PMI
10:00 EUR Producer Price Index
13:15 USD ADP Employment Change
13:30 CAD Building Permits
14:45 USD Markit Services PMI
14:45 USD Markit PMI Composite
15:00 USD ISM Services PMI
15:00 USD ISM Services Employment Index
15:00 USD ISM Services Prices Paid
15:00 USD ISM New Orders Index
15:30 USD EIA Crude Oil Stocks Change
19:00 USD Fed’s Beige Book

UK Company Announcements:

Persimmon
Polymetal International

US Company Announcements:

Snowflake
Brown Forman
Okta
Marvell Technology Group
Splunk
Dollar Tree

Thursday, 4th March

00:30 AUD Imports
00:30 AUD Exports
00:30 AUD Trade Balance
00:30 AUD Retail Sales
05:00 JPY Consumer Confidence Index
09:00 EUR Markit Services PMI
09:00 EUR Economic Bulletin
09:30 GBP Markit Construction PMI
10:00 EUR Retail Sales
10:00 EUR Unemployment Rate
13:30 USD Initial Jobless Claims
13:30 USD Continuing Jobless Claims
13:30 USD Nonfarm Productivity
13:30 USD Unit Labour Costs
15:00 USD Factory Orders
15:30 USD EIA Natural Gas Storage Change
21:30 AUD AiG Performance of Services Index

UK Company Announcements:

Aviva
Cairn Homes
CRH
Meggitt
Melrose
Rathbone
Schroders
William Hill
Galliford Try

US Company Announcements:
Broadcon
Costco Wholesale
Kroger Company

Friday, 5th March

07:00 GER Factory Orders
08:30 GBP Halifax House Prices
13:30 USD Nonfarm Payrolls
13:30 USD Average Hourly Earnings
13:30 USD Average Weekly Hours
13:30 USD Labour Force Participation Rate
13:30 USD Unemployment Rate
13:30 USD Goods Trade Balance
13:30 CAD Imports
13:30 CAD Exports
13:30 CAD International Merchandise Trade
13:30 CAD Ivey Purchasing Managers Index
18:00 USD Baker Hughes US Oil Rig Count

UK Company Announcements:

ConvaTec

US Company Announcements:

N/A

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