Financial Market Preview for February 8-12

The NFP showed a headline figure of 151K jobs – lower than expected – but wages and unemployment were still good enough to pull up the U.S. dollar. Nonetheless, equities came down as the bearish market sentiment persisted; oil prices also declined. On this week’s agenda: Yellen’s testimony, U.S. JOLTS, Japan’s current account, U.S. consumer sentiment, GB manufacturing PMI, EU group meeting, U.S. retail sales. So let’s breakdown the economic calendar for the week of February 8th to 12th:  

(All times GMT):

Monday, February 8th

23:50 – Japan’s Current Account: This report will present the changes in the difference between imported and exported goods, services, and income flows. In the last monthly report, the surplus in the current account contracted to 1.42 trillion yen;

Tuesday, February 9th

15:00 – U.S JOLTS Job Openings: The Bureau of Labor Statistics will publish its monthly report on the U.S number of job openings for December, excluding the farming industry; in the last update for November, the number of jobs opening rose to 5.43 million; in the upcoming report, the number is expected to reach 5.54 million;

Wednesday, February 10th

09:30 – Great Britain Manufacturing Production: This report will show the annual rate of GB’s manufacturing production for December; in the last report regarding November 2015 the index fell again by 0.4%; this time, the estimates are for no change;

15:00 –FOMC Chair Yellen Testifies: Janet Yellen will testify before the Committee on Financial Services, U.S. House of Representatives; she will have a prepared statement regarding Semiannual Monetary Policy Report to the Congress and then will answer question about the state of the U.S. economy including inflation, interest rates, global gloom and fall of equities;

15:30 – U.S Crude Oil Stockpiles Weekly update: The EIA (Energy Information Administration) will release its weekly report on the U.S oil and petroleum stockpiles for the week ending on February 5th;

Thursday, February 11th

All Day – Euro-group Meetings: This meeting will include the attendance of the Euro-group President, Finance Ministers from euro area member states, the Commissioner for economic and monetary affairs, and the President of the European Central Bank;

13:30 – U.S. Jobless Claims Weekly Report:  This weekly report will pertain to the changes in the initial jobless claims for the week ending on February 5th; in the latest report, jobless claims increased to 285K and is expected to remain unchanged this week – the outlook is at 287K;

15:00 –FOMC Chair Yellen Testifies: Janet Yellen will testify again, this time before the Senate Banking Committee, in Washington DC;

15:30 – EIA U.S. Natural Gas Storage: The EIA weekly report of the U.S. natural gas market will refer to the latest changes in natural gas production, storage, consumption and rates as of February 5th;

22:30 – Governor Stevens speaks: Reserve Bank of Australia Governor will testify before the House Representatives’ Standing Committee on Economics, in Sydney;

Friday, February 12th

10:00 –Germany’s Q4 GDP 2015: In the third quarter, Germany’s economy grew by 0.3% –as expected. The current expectations are for the growth rate to reach 0.3% in Q4 2015;

13:30 – U.S. Retail Sales Report: This monthly report refer to January; in the last December update, retail sales fell by 0.1% (month-over-month); core retail, by 0.1% as well; this will be among the main reports that will show how strong January sales were compared to previous years; currently, the market expects core sales to remain flat and retail sales to edge up by 0.1%;

14:55 – UoM Consumer Sentiment (preliminary): University of Michigan will release its preliminary consumer sentiment monthly report; this survey could offer information vis-à-vis the latest developments in U.S consumers’ sentiment; According to the recent report, the sentiment index rose to 93.3; for the next report, the index is expected to fall to 92.6;

For further reading: