Following a relatively quiet week for economy’s data, the global financial markets will be focusing on the trade figures from China that are due out on Friday.
Keeping focused on Friday’s consumer sentiment data, investors will also be looking for more clues about the timing of the upcoming rate hike by the Federal Reserve in some of the U.S. economic reports.
The market participants in the euro zone, in the meantime, will be looking closely to a report on the German factory orders about gauging the health of the largest economy in the region.
There will also be a focus by the traders on several of the central bank decisions from this week, including the rate reviews in Australia and New Zealand.
Here are the five biggest events on the economic calendar that could affect the markets.
1. January Trade Data from China
China is due to release January trade figures on Friday at around 03:00 GMT (10:00 PM ET Thursday).
It is expected to show in the report that the surplus trade in the country widened to {currency}48.9 billion in the previous month from December’s {currency}40.8 billion.
The exports are forecast to have raised 3.0% in January from a year earlier, after a drop of 6.1% one month ago. Imports, on the other hand, are expected to climb 9.6%, after a rise of 3.1% in December.
Also, on Monday, the Asian nation will be publishing the Caixin services purchasing managers index, followed on Tuesday by foreign reserves data.
In the fourth quarter, there was a growth of 6.8% for China’s economy, which was boosted by larger government spending and record bank lending. However, the economy still faces headwinds from the cooling of the housing market and the possibility of protectionist measures by the U.S.
2. U.S. Michigan Consumer Sentiment in February
The initial University of Michigan’s February consumer sentiment index that is scheduled to be released on Friday at10:00 AM ET (15:00 GMT) is expected to drop slowly from 98.5 to 97.8 in January.
Aside from the consumer report sentiment, this week’s calendar also shows U.S. data on international trade, weekly jobless claims, job openings, and import prices.
The market sentiment in the coming week is most likely to be continued to be dictated by the headlines from Washington, as the traders focus on President Donald Trump for more details about his promised tax reform, infrastructure spending and deregulation, and trade policies 05/02 as well.
Also on the radar will be the earnings from companies such as General Motors (NYSE: GM), Disney (NYSE: DIS), Coca-Cola (NYSE: KO), Timer Warner (NYSE: TWX), and Twitter (NYSE: TWTR).
3. German Factory Orders for December
At 07:00 GMT (2:00 AM ET) on Monday, Germany will publish the data about December’s factory orders. The data is anticipated the show a rise of 0.5%, after a sharp drop of 2.5% in November.
There will also be French, Spanish, German, and Italian industrial production data. All of them are expected to show growth, which adds to the evidence that there is a gaining of momentum for the euro zone’s economy.
Also, the European Commission is set to publish on Wednesday the updated economic forecasts for the region.
4. Policy Meeting of the Reserve Bank of Australia
The latest interest rate decision of the Reserve Bank of Australia (RBA) is set for Tuesday at 03:30 GMT (10:30 PM ET Monday).
Many economists anticipate that the central bank will keep the rates unchanged at the current record-low of 1.50% while it attempts to balance a heated housing market with a wage growth that is low and a below target inflation.
RBA Governor Philip Lowe, on Thursday, is due to speak in Sydney at the A50 Australian Economic Forum Dinner.
Apart from the RBA, on Monday, the retail sales figures will be in focus.
5. Rate Review of the Reserve Bank of New Zealand
The monetary policy update of the Reserve Bank of New Zealand is due on Wednesday at 20:00 GMT (3:00 PM ET).
Most of the market analysts expect that the central bank will hold its benchmark interest rate at the current best low of 1.75%. At the same time, signalling the next move in rates may be higher because of a recent uptick in inflation.
Reserve Bank of New Zealand’s Governor Wheeler will also be holding a press conference after the decision.
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