In the week ahead, investors will be keenly anticipating Friday’s U.S. nonfarm payrolls report for January after December’s report showed that the economy added far fewer jobs than expected. Interest rate decisions by the ECB, the Bank of England and the Reserve Bank of Australia will also be in focus.
Monday, February 3
Markets in China are to remain closed for the Lunar New Year holiday. Australia is to produce data on building approvals, a leading indicator of future construction activity. In the euro zone, Spain and Italy are to publish data on manufacturing activity. Elsewhere in Europe, Switzerland is to release its SVME manufacturing index. The U.K. is also to publish data on manufacturing activity, a leading indicator of economic health. Canada is to release data on raw materials price inflation. In the U.S., the Institute of Supply Management is to produce data on manufacturing activity, a leading economic indicator.
Tuesday, February 4
The RBA is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision. Markets in China are to remain closed for the Lunar New Year holiday. In the euro zone, Spain is to release data on the change in the number of people unemployed. The U.K. is to publish data on construction sector activity, a leading economic indicator. The U.S. is to produce data on factory orders, a leading indicator of production. New Zealand is to publish data on the change in the number of people employed and the unemployment rate.
Wednesday, February 5
Markets in China are to remain closed for the Lunar New Year holiday. Japan is to publish data on average cash earnings. 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 publish data on service sector activity. The U.K. is also to release data on service sector activity, a leading economic indicator. Canada is to produce data on building permits. 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. Markets in New Zealand are to remain closed for a national holiday.
Thursday, February 6
Australia is to release data on retail sales and the trade balance, the difference in value between imports and exports. The nation is also to release private sector data on business confidence. Markets in China are to remain closed for the Lunar New Year holiday. 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. Both the U.S. and Canada are to publish data on the trade balance, and the U.S. is also to publish the weekly report on initial jobless claims. Canada is to publish its Ivey PMI.
Friday, February 7
The RBA is to publish its monetary policy statement, which outlines economic conditions and the inflation outlook from the bank’s perspective. Germany is to publish reports on industrial production and the trade balance. Switzerland is to publish data on retail sales, while 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. The U.K. is to produce data on manufacturing and industrial production, as well as a report on the trade balance. Canada is to publish data on the change in the number of people employed and the unemployment rate. The U.S. is to round up the week with the closely watched government data on nonfarm payrolls and the unemployment rate.