In the week ahead, investors will be anticipating Friday’s U.S. nonfarm payrolls report for an indication of the strength of the recovery in the labor market. Thursday’s interest rate decision and press conference by the ECB will also be closely watched, while rate reviews by the Reserve Bank of Australia, Bank of Canada and Bank of England will also be in focus.
Monday, March 3
Japan is to release data on capital spending. Australia is to publish a report on company operating profits. China is to produce data on service sector activity, as well as a revised reading on the HSBC manufacturing index. The U.K. is to release data on manufacturing activity and net lending to individuals, while Switzerland is to publish its SVME index. In the euro zone, Spain and Italy are to release data on manufacturing activity. Meanwhile, ECB President Mario Draghi is to speak in the European Parliament in Brussels. Canada is to produce data on raw material price inflation. The U.S. is to release data on personal spending, while the Institute of Supply Management is to release data on manufacturing activity.
Tuesday, March 4
The RBA is to announce its benchmark interest rate and publish its monetary policy statement, which outlines economic conditions and the factors affecting the bank’s decision. Australia is also to publish data on building approvals and the current account. Japan is to produce a report on average cash earnings. In the euro zone, Spain is to release data on the change in the number of people unemployed. The U.K. is to release data on construction sector activity.
Wednesday, March 5
Australia is to publish data on fourth quarter gross domestic product, the broadest indicator of economic activity and the leading measure of the economy’s health. The euro zone is to release data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. Spain and Italy are to release data on service sector activity. The U.K. is to produce data on service sector activity, a leading indicator of economic health. The BoC is to announce its benchmark interest rate and publish its monetary policy statement, which outlines economic conditions and the factors affecting the bank’s decision. The U.S. is to release the ADP report on private sector job creation, which leads the government’s nonfarm payrolls report by two days. Meanwhile, the ISM is to publish a report service sector activity.
Thursday, March 6
Australia is to publish data on retail sales and the trade balance, the difference in value between imports and exports. Germany is to publish data on factory orders. The BoE is to announce its benchmark interest rate. Later in the day, the ECB is to announce its benchmark interest rate. The announcement is to be followed by a press conference with President Mario Draghi. The U.S. is to publish the weekly report on initial jobless claims and data on factory orders. Canada is to publish a report on building permits and the Ivey PMI.
Friday, March 7
RBA Governor Glenn Stevens is to testify before the House of Representatives Economic Committee, in Sydney; his comments will be closely watched. The Swiss National Bank is to release data on foreign currency reserves. This data is closely scrutinized for indications of the size of the bank’s operations in currency markets. Switzerland is also to release data on consumer inflation. The U.K. is to release data on consumer inflation expectations. In the euro zone, Germany is to publish data on industrial production. Canada is to publish data on the change in the number of people employed and the unemployment rate, as well as a report on the trade balance. The U.S. is to round up the week with the closely watched government data on nonfarm payrolls and the unemployment rate.