A Week of Economic Indicators

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A busy week ahead in market-moving economic indicators is headlined by Central Banks, first up is the Reserve Bank of Australia’s interest rate decision for March. After surprising investors last month by holding rates, no one is sure what to expect.

Also this week, The European Central Bank and the Bank of England will make interest rate decisions.

Monday we will see the Australian Business Survey will release business indicator figures for the month of December. As well as  the Commonwealth Bank of Australia and the Australian Industry Group will release their performance of services index for February.

In Europe, the February purchasing managers index for services for the European Monetary Union is due and Sentix investor confidence data for March and January retail sales figures are also on tap.

In the United Kingdom, the purchasing managers’ index for services for February will be released.

Come Tuesday, BRC will release its February retail sales monitor in the UK and the highly anticipated EU gross domestic product data for the fourth quarter is also due.

Wednesday sees the release of the ADP employment report in the US, along with fourth quarter productivity and costs data. Private sector employment is tipped have risen by 210,000 jobs in February.

The markets will also receive the weekly Mortgage Bankers Association mortgage applications data.

The weekly Energy Information Association petroleum status report is also on tap. With Oil and Natural Gas peaking interests.  The BRC shop price index for February is due in the UK.

On Thursday, jobless claims data is awaited in the US. Across the Atlantic the Bank of England will hold its March policy meeting, where it will make its interest rate decision for the month. While a short distance away, the European Central Bank will also meet to discuss interest rates.

Friday brings US trade balance data for January, as well as the February all important Non Farms Payroll report. Analysts believe that 200,000 jobs were likely created in the month, leaving with unemployment unchanged at 8.3 per cent. The trade figures are tipped to show a deficit of close to $US49 billion.

 In the UK, January trade balance data is expected to be released, alongside industrial production figures for the month. January manufacturing production figures and the February producer price index are also expected.

Elsewhere, the National Institute of Economic and Social Research will release its GDP estimate for the three months to February.

Volumes of data for the month of February will be released in China on Friday. Retail sales and industrial production figures will be released, while consumer price and producer price index data is also due.

It will be a very interesting week, but the big results will be on Friday, to see if the US economy is producing jobs. 

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About:FX Empire Analyst - Barry Norman

Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com

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