Financial Market Preview for February 9-13

The U.S. NF payroll report presented higher growth in jobs than market expectations and a rise in wages.  This news was enough to bring up the US dollar. Looking forward, the JOLTS report, the other labor market monthly update, will be released this week. Other reports that will come out include: U.S. retail sales, China’s CPI, EU GDP, U.S. jobless claims, BOE inflation letter, consumer sentiment, G20 Summit, Euro group meetings, GB manufacturing production, and French industrial production. So let’s examine the economic calendar for the week of February 9th to 13th.  

(All times GMT):

Monday, February 9th

00:50 – Japan’s Current Account: This report will present the changes in the difference between imported and exported goods, services, and income flows. It could also indicate the progress of the Japanese economy. In the previous monthly update, the surplus in the current account reached to 0.91 trillion yen;

08:25 –Governor Stevens speaks: Reserve Bank of Australia Governor is due to speak at the RMB Clearing Bank Luncheon, in Sydney; this speech may move the Aussie dollar;

All Day – G20 Summit: The summit will span over two days in which the G20 finance of ministers will convene and discuss the recent economic developments;

Tuesday, February 10th

02:30 – China’s CPI: According to the recent report, the CPI inched up to an annual rate of 1.5%; if the annual rate falls, it could signal the Chinese economy isn’t heating up; the current expectations are for the CPI to drop to 1.1%;

07:45 – French Industrial Production: This report shows the development in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities. Last month’s index declined by 0.3%;

09:30 – Great Britain Manufacturing Production: This report will present the annual rate of GB’s manufacturing production as of December; in the previous report regarding November 2014 the index bounced back by 0.7%; this time, the estimates are for 0.3% gain in December;

15:00 – U.S JOLTS Job Openings: The Bureau of Labor Statistics will release its monthly update on the U.S number of job openings for January, excluding the farming industry; in the last update regarding December, the number of jobs opening rose to 4.97 million; current market predictions are for the number to increase again to 5.03 million;

Tentative – U.S Mortgage Delinquencies: Percentage of MBA-represented mortgages which were at least one payment late during the past quarter; in the past quarter, the ratio was 5.85%, which was slightly lower than in previous quarter

Wednesday, February 11th

Tentative – China New Loans: According to the recent monthly update, the total loans dropped to 697 billion Yuan; this report is another indicator for China’s economic growth;

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;

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 February 6th;

Thursday, February 12th

02:30 – Australia Employment Update: In the last report regarding December 2014 the rate of unemployment inched down to 6.1%; the number of employed (seasonally adjusted) grew by 37.4K people. This report may affect the Australian dollar (see here the recent report);

10:30 –BOE Governor Carney Speaks: The Governor is expected to hold a press conference about the inflation letter, in London;

10:30 –BOE Inflation Report: Bank of England will release its quarterly report that includes the bank’s inflation outlook for 2015and 2016;

13:30 –U.S. Retail Sales Report: This monthly report refers to January; in the last report regarding December, retail sales dropped by 0.9% (month-over-month); core retail also fell by 1%; this report also shows the developments in U.S’s gasoline retail sales, which could provide some insight regarding the progress in demand for gasoline; current outlook is for a 0.4% fall in core retail sales in January;

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 February 6th; in the last report, jobless claims rose to 278K; the expectations are  for this number to remained stable at 279K;

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 February 6th;

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

Friday, February 13th

07:00 –EU, German and French Fourth Quarter GDP 2014: In the third quarter of 2014, Germany’s economy grew by 0.1%. The progress of the German economy is likely to impact the future of ECB monetary policy; if the growth rate remains low, this may drag down the Euro; currently, the market expects a 0.3% gain in the fourth quarter;

13:30 – Canada Manufacturing Sales: In the recent report regarding December 2014, manufacturing sales decreased by 1.4%; current expectations are for a 0.9% fall;

14:55 – UoM Consumer Sentiment (preliminary): University of Michigan will publish 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 last report, the sentiment index rose again to 98.2;

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