TC Economic Insight - The Week Ahead (Mar 4 - 8)

Using Multi-Stock Trading LLC's "Economic Insight" investors can check out up-coming major economic data.

We are looking into the trading week of March 4 - 8:

We can select economic data of "High", "Medium" or "Low" importance, or any combination of such filters:

We can select which economies to focus on:

U.S. Federal Reserve Chairman Jerome Powell will make his semiannual monetary policy report to Congress in the coming week.

He will testify before the House on March 6 (Wednesday) and the Senate on March 7 (Thursday).

Investors will certainly focus on Powell’s tone (hawkish or dovish?) to gauge the timing of the Federal Reserve’s first rate cut. Currently they widely expect the central bank to start cutting rates in June.

In the past 4 times when Powell testified in Congress, EUR/USD fell in 75% of times (3 out of 4 events) within one hour from the report’s release, marking a trading range of 59.25 pips on average.

Forecasts of Key Economic Data:

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Monday (March 4)

AU Building Permits (JAN) +3.6% MoM

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Tuesday (March 5)

JP Tokyo Core Consumer Prices (FEB) +2.4% YoY

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CN Caixin Services PMI (FEB) to rise to 53.4

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FR Industrial Production (JAN) +0.4% MoM

EA Producer Prices (JAN) -7.4% YoY

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US Factory Orders (JAN) -4.9% MoM

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US ISM Services PMI (FEB) to decline to 52.9

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Wednesday (March 6)

AU GDP (Q4) +1.5% YoY

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DE Trade Surplus (JAN) to rise to 22.6 billion euros

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EA Retail Sales (JAN) +0.3% MoM

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US ADP Employment Change (FEB) +90,000

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US Fed Chairman Jerome Powell to Testify Before U.S. House

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CA Bank of Canada expected to keep key rate unchanged at 5.00%

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CA Ivey PMI (FEB) may ease to 56.0

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Thursday (March 7) 

AU Trade Surplus (JAN) may rise to A$11.9 billion

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CN Trade Surplus (JAN-FEB) may rise to $106.0 billion

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CN Exports (JAN-FEB) +3.0% YoY

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GB Halifax House Price Index (FEB) +1.0% MoM

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EA European Central Bank expected to keep key rate unchanged at 4.5%

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US Fed Chairman Jerome Powell to Testify Before U.S. Senate

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US Initial Jobless Claims (MAR/02) to increase to 217,000

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US Trade Deficit (JAN) may widen to $64.5 billion

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CA Trade Deficit (JAN) may widen to C$700 million

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Friday (March 8)

JP Household Spending (JAN) -3.9% YoY

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DE Industrial Production (JAN) +0.8% MoM 

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DE Producer Prices (JAN) -7.3% YoY

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US Non Farm Payrolls (FEB) +195,000

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US Unemployment Rate (FEB) may remain at 3.7%

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US Average Hourly Earnings (FEB) +0.3% MoM

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Happy Trading!

Source: Multi-Stock Trading LLC Economic Insight