Financial Market Preview for March 9-13

The recent NFP payroll report showed, yet again, another strong gain in jobs with 295K jobs added last month and rate of unemployment fell to 5.5%. This news fueled gains in the U.S. dollar and dragged down gold and silver prices. This week, several key economic reports will be released including: JOLTS report, Euro-group meetings, U.S. retail sales, China’s CPI, Japan’s GDP, U.S. jobless claims, China’s industrial production, U.S. consumer sentiment, Great Britain Manufacturing Production, Australia’s employment report, and French industrial production. So let’s review the economic calendar for the week of March 9th to 13th.  

(All times GMT):

Monday, March 9th

00:50 – Japan’s Current Account: This report will show 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 reached 0.98 trillion yen;

00:50 – Japan’s GDP for Q4: This will be the final estimate for Japan’s GDP growth rate in the fourth quarter. The current expectations are it will show a modest gain of 0.5%. This comes after the economy contracted by 0.5% in the third quarter;

All Day – Euro-group Meetings: These meetings are held in Brussels and include meetings among 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;

Tuesday, March 10th

02:30 – China’s CPI: According to the last report, the CPI fell to an annual rate of 0.8%; if the annual rate remains low, it could signal the Chinese economy isn’t heating up; the current expectations are for the CPI to edge up to 1%;

07:45 – French Industrial Production: This report shows the changes in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities. Last month’s index rose by 1.5%;

All Day – ECOFIN Meetings: ECOFIN is the Euro zone’s broadest financial decision making body. The meetings among EU Finance Ministers will revolve around the recent economic developments in the Euro zone may include talks about the deflationary pressures, debt problems and high unemployment;

09:30 – Great Britain Manufacturing Production: This report will show the annual rate of GB’s manufacturing production for January; in the previous report regarding December 2014 the index inched up by 0.1%; this time, the estimates are for 0.2% gain in January;

15:00 – U.S JOLTS Job Openings: The Bureau of Labor Statistics will publish its monthly update on the U.S number of job openings for February, excluding the farming industry; in the last update regarding January, the number of jobs opening increased to 5.03 million; current market predictions are for the number to slightly rise to 5.04 million;

Wednesday, March 11th

03:00 – China’s Industrial Production: According to the recent monthly report, China industrial production rose to an annual rate of 7.9%; the growth rate is estimated to slip — current outlook is for a growth rate of 7.7%;

Tentative – China New Loans: According to the recent monthly update, the total loans grew to 1,470 billion Yuan; this report is another indicator for China’s economic growth;

15:30 – U.S Crude Oil Stockpiles Weekly update: The EIA (Energy Information Administration) will publish its weekly report on the U.S oil and petroleum stockpiles for the week ending on March 6th;

Thursday, March 12th

02:30 – Australia Employment Update: In the last report regarding January 2015 the rate of unemployment inched up to 6.4%; the number of employed (seasonally adjusted) fell by 12.2K people. This report may impact the Australian dollar (see here the recent report);

13:30 –U.S. Retail Sales Report: This monthly report refers to February; in the last report regarding January, retail sales declined by 0.8% (month-over-month); core retail also fell by 0.9%; this report also shows the changes in U.S’s gasoline retail sales, which could provide some insight regarding the progress in demand for gasoline; current outlook is for a 0.6% gain in core retail sales in February;

13:30 – U.S. Jobless Claims Weekly Report:  This weekly report will refer to the shifts in the initial jobless claims for the week ending on March 6th; in the recent report, jobless claims grew to 320K; the expectations are  for this number to remain stable at 317K;

15:30 – EIA U.S. Natural Gas Storage: The EIA weekly update of the U.S. natural gas market will refer to the latest shifts in natural gas production, storage, consumption and rates as of March 6th;

Friday, March 13th

13:30 – Canada’s Employment Report: In the recent employment update for January 2015, unemployment remained unchanged at 6.6%; the employment grew by 35.4K;

13:30 – U.S. Producer Price Index: This report shows the inflation rate from the producers’ side; it will refer to February 2015. In the previous report regarding January, this index for finished goods declined by 0.8% compared with the preceding month’s level; the core PPI inched down by 0.1%; current estimates are for the PPI to show a 0.2% gain in the forthcoming report;

14:55 – UoM Consumer Sentiment (preliminary): University of Michigan will release its preliminary consumer sentiment monthly update; this survey could offer information vis-à-vis the recent developments in U.S consumers’ sentiment; According to the recent report, the sentiment index fell to 93.6;

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