The Top Events/Releases for next week - page 7
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The U.S. is to release preliminary figures on fourth quarter economic growth at 8:30AM ET (13:30GMT) Friday. The data is expected to show that the economy expanded at a healthy 2.2% annual rate in the final three months of 2016, easing from growth of 3.5% in the third quarter.
Besides the GDP report, this week's calendar also features U.S. data on existing home sales on Tuesday, initial jobless claims and new home sales on Thursday, followed by durable goods orders and revised consumer sentiment on Friday.
2. U.K. Preliminary Q4 GDP Figures
The Office for National Statistics is to produce preliminary data on U.K. economic growth for the fourth quarter at 09:30GMT (4:30AM ET) on Thursday.
The report is forecast to reveal the economy grew 0.5% in the September-December quarter, after expanding 0.6% in the preceding quarter, confirming that the British economy remains on a solid footing.
On an annualized rate, the British economy is expected to grow 2.1% in the fourth quarter, down slightly from growth of 2.2% in the previous three-month period.
Also in focus will be the U.K.'s High Court ruling due on Tuesday at 09:30GMT (4:30AM ET) regarding the government's ability to bypass parliament and initiate the Brexit process by triggering Article 50.
3. Flash Euro Zone PMIs for January
The euro zone is to publish preliminary data on manufacturing and service sector activity for January at 09:00GMT (4:00AM ET) on Tuesday, amid expectations for a modest decline.
Ahead of the euro zone PMI's, France and Germany will release their own PMI reports at 08:00GMT and 08:30GMT respectively.
In addition, market participants will be focusing on Wednesday's IFO survey data on German business confidence to gauge sentiment in the euro zone's largest economy.
4. Japanese December Inflation Data
Japan's Statistics Bureau will publish December inflation figures at 23:30GMT Thursday (6:30PM ET). Market analysts expect the headline figure to remain negative, falling 0.4% year-on-year, which would be the 13th straight month of declines.
The country has been struggling to hit its 2% consumer price target, keeping pressure on the Bank of Japan to maintain its aggressive stimulus package when it meets next week.
5. Turkish Central Bank Decision
Currency traders will be paying close attention to the Central Bank of the Republic of Turkey's (CBRT) monetary policy decision at 12:00GMT (7:00AM ET) on Tuesday.
Investors expect the Turkish central bank to raise its benchmark interest rate by 50 basis points to 8.5% after recent attempts to defend the Turkish lira with liquidity measures proved ineffective.
The lira has dropped as much as 10% since the start of 2017, battered by concern over Turkey's political and economic outlook as well as and doubts about whether the authorities will take decisive steps to arrest the slide.
Market events to watch this week
Monday, January 30
Midnight JPY Monetary Policy Statement
Midnight JPY BOJ Outlook Report
Midnight JPY BOJ Policy Rate
Tuesday, January 31
1:30am JPY BOJ Press Conference
8:30am CAD GDP m/m
10:00am USD CB Consumer Confidence
4:45pm NZD Employment Change q/q
4:45pm NZD Unemployment Rate
5:35pm CAD BOC Gov Poloz Speaks
8:00pm CNY Manufacturing PMI
Wednesday, February 1
4:30am GBP Manufacturing PMI
8:15am USD ADP Non-Farm Employment Change
10:00am USD ISM Manufacturing PMI
10:30am USD Crude Oil Inventories
2:00pm USD FOMC Statement
2:00pm USD Federal Funds Rate
Thursday, February 2
Friday, February 34:30am GBP Construction PMI
7:00am GBP BOE Inflation Report
7:00am GBP MPC Official Bank Rate Votes
7:00am GBP Monetary Policy Summary
7:00am GBP Official Bank Rate
7:30am GBP BOE Gov Carney Speaks
8:30am USD Unemployment Claims
7:30pm AUD RBA Monetary Policy Statement
8:45pm CNY Caixin Manufacturing PMI
4:30am GBP Services PMI
8:30am USD Average Hourly Earnings m/m
8:30am USD Non-Farm Employment Change
8:30am USD Unemployment Rate
10:00am USD ISM Non-Manufacturing PMI
I want to add that the US also has a great impact on the shale production. US is really manipulative when it comes to controlling the production, what I have even read is that earlier last 2016, there is an estimated 623 trillion cubic feet shale gas resources that can be recovered from US.
Source: US Global Impact