Week Ahead


Next week, the US will be publishing the second estimate of GDP growth for the last quarter of 2017, alongside durable goods orders, ISM Manufacturing PMI, new and pending home sales, PCE price index, and personal spending and income. Elsewhere, important releases include: UK consumer confidence, monetary indicators and Markit PMIs; Eurozone inflation, unemployment and business survey; Japan consumer morale, retail trade and industrial output; and China PMIs. Also, Canada, India, Brazil and Hong Kong will report GDP growth figures for Q4.

In the US, the most important releases are the second estimate of GDP growth, durable goods orders, ISM Manufacturing PMI, new and pending home sales, PCE price index, personal spending and income, and the final reading of Michigan consumer sentiment. Also, investors will be waiting for: construction spending; total vehicle sales; advance estimates of goods trade balance and wholesale inventories; house price indexes from both S&P/Case-Shiller and FHFA; Chicago Fed National Activity Index; Dallas Fed Manufacturing Index; Richmond Fed Manufacturing Index; Chicago PMI; ISM New York Index; and the final reading of Markit Manufacturing PMI.

The UK will publish the Gfk consumer confidence, monetary indicators, and Markit PMIs for both manufacturing and construction sectors. Elsewhere in Europe, France, Italy and Spain will release the second estimate of fourth quarter GDP and Switzerland and Sweden will report their preliminary figures of economic growth for the same period. In addition, flash estimates of February's inflation will be published for the Eurozone's largest economies. Other important figures include: the Euro Area, unemployment and business survey; Germany Gfk consumer confidence, retail trade and jobless rate; France consumer sentiment; and Italy unemployment rate, consumer and business morale.

In Japan, analysts are eyeing the publication of consumer confidence, alongside unemployment, retail trade, the preliminary reading of industrial production and the final Nikkei Manufacturing PMI. Meanwhile, China will release figures for PMIs from both the statistical office and Caixin.

In Australia, the most important releases will be AIG manufacturing index, private capital expenditure and private sector credit.

Figures for fourth quarter GDP growth from Canada, India, Brazil and Hong Kong will also be in the spotlight. Other key highlights include: Canada current account and RBC Manufacturing PMI; India infrastructure output and Nikkei Manufacturing PMI; Brazil unemployment, trade balance and Markit Manufacturing PMI; Indonesia inflation rate; South Korea interest rate decision; Mexico trade balance and unemployment; and South Africa foreign trade.



Joana Ferreira |
2/25/2018 1:20:41 PM





Friday February 23 2018 Actual Previous Consensus
07:00 AM
DE
GDP Growth Rate YoY Final Q4 2.9% 2.7%
07:00 AM
DE
GDP Growth Rate QoQ Final Q4 0.6% 0.7%
08:00 AM
EA
European Council Meeting
10:00 AM
EA
Core Inflation Rate YoY Final JAN 1.0% 0.9%
10:00 AM
EA
Inflation Rate YoY Final JAN 1.3% 1.4%
10:00 AM
EA
Inflation Rate MoM JAN -0.9% 0.4%
12:00 PM
GB
BoE Ramsden Speech
12:45 PM
BR
Business Confidence FEB 58.8 59
01:30 PM
CA
Core Inflation Rate YoY JAN 1.2% 1.2%
01:30 PM
CA
Inflation Rate MoM JAN 0.7% -0.4%
01:30 PM
CA
Inflation Rate YoY JAN 1.7% 1.9%
02:00 PM
MX
GDP Growth Rate YoY Final Q4 1.5% 1.6% ®
03:15 PM
US
Fed Dudley Speech
04:00 PM
US
Monetary Policy Report
06:30 PM
US
Fed Mester Speech
08:40 PM
US
Fed Williams Speech
US
US Monetary Policy Forum
Saturday February 24 2018 Actual Previous Consensus
04:00 AM
CN
House Price Index YoY JAN 5% 5.3%
Monday February 26 2018 Actual Previous Consensus
09:30 AM
GB
UK Finance Mortgage Approvals JAN 40.1K 36.1K ®
10:00 AM
EA
ECB Cœuré Speech
01:00 PM
US
Fed Bullard Speech
01:30 PM
US
Chicago Fed National Activity Index JAN 0.12 0.14 ®
02:00 PM
EA
ECB President Draghi Speech
03:00 PM
US
New Home Sales MoM JAN -7.8% -7.6% ®
03:00 PM
US
New Home Sales JAN 0.593M 0.643M ®
03:30 PM
US
Dallas Fed Manufacturing Index FEB 37.2 33.4
06:00 PM
GB
BoE Cunliffe Speech
08:15 PM
US
Fed Quarles Speech
09:00 PM
KR
Consumer Confidence FEB 108.2 110
Tuesday February 27 2018 Actual Previous Consensus
01:00 AM
KR
Interest Rate Decision 1.5% 1.5%
05:30 AM
NL
Business confidence FEB 10.9 10.3
07:45 AM
FR
Consumer Confidence FEB 100 104
08:00 AM
ES
Inflation Rate YoY Prel FEB 1.1% 0.6%
09:00 AM
IT
Business Confidence FEB 110.6 109.9
09:00 AM
IT
Consumer Confidence FEB 115.6 115.5
10:00 AM
EA
Business Confidence FEB 1.48 1.56 ®
10:00 AM
EA
Services Sentiment FEB 17.5 16.8 ®
10:00 AM
EA
Industrial Sentiment FEB 8.0 9.0 ®
10:00 AM
EA
Economic Sentiment FEB 114.1 114.9 ®
10:00 AM
DE
Bundesbank Annual Report 2017
11:00 AM
FR
Unemployment Benefit Claims JAN -0.3K 0.7K ®
11:15 AM
ES
Business Confidence FEB 3.9 3.7
01:00 PM
DE
Inflation Rate YoY Prel FEB 1.4% 1.6%
01:30 PM
US
Durable Goods Orders Ex Transp MoM JAN -0.3% 0.7% ®
01:30 PM
US
Fed Chair Powell Testimony
01:30 PM
US
Wholesale Inventories MoM Adv JAN 0.7% 0.6% ®
01:30 PM
US
Durable Goods Orders MoM JAN -3.7% 2.6% ®
02:00 PM
MX
Unemployment Rate JAN 3.4% 3.1%
02:00 PM
MX
Balance of Trade JAN $-4.408B $-0.157B
02:00 PM
US
S&P/Case-Shiller Home Price MoM DEC 0.2% 0.2%
02:00 PM
US
S&P/Case-Shiller Home Price YoY DEC 6.3% 6.4%
03:00 PM
US
CB Consumer Confidence FEB 130.8 124.3 ®
03:00 PM
US
Fed Chair Powell Testimony
09:00 PM
KR
Business Confidence FEB 75 77
09:30 PM
US
API Crude Oil Stock Change 23/FEB 0.933M -0.907M
11:50 PM
JP
Retail Sales YoY JAN 1.6% 3.6%
11:50 PM
JP
Industrial Production YoY Prel JAN 2.7% 4.4%
11:50 PM
JP
Industrial Production MoM Prel JAN -6.6% 2.9%
Wednesday February 28 2018 Actual Previous Consensus
12:01 AM
GB
Gfk Consumer Confidence FEB -10 -9
12:30 AM
AU
Private Sector Credit MoM JAN 0.3% 0.3%
12:30 AM
AU
Private Sector Credit YoY JAN 4.9% 4.8%
01:00 AM
CN
NBS Manufacturing PMI FEB 50.3 51.3
01:00 AM
CN
Non Manufacturing PMI FEB 54.4 55.3
03:45 AM
HK
GDP Growth Rate YoY Q4 3.4% 3.7% ®
03:45 AM
HK
GDP Growth Rate QoQ Q4 0.8% 0.8% ®
07:00 AM
DK
GDP Growth Rate YoY Prel Q4 1.2% 1% ®
07:00 AM
DK
GDP Growth Rate QoQ 2nd Est Q4 1% -0.8% ®
07:00 AM
DE
GfK Consumer Confidence MAR 10.8 11.0
07:00 AM
DE
Unemployment Rate Harmonised JAN 3.6% 3.6%
07:00 AM
MY
Inflation Rate YoY JAN 2.7% 3.5%
07:00 AM
TR
Balance of Trade JAN $-9.07B $-9.22B ®
07:45 AM
FR
Inflation Rate YoY Prel FEB 1.2% 1.3%
07:45 AM
FR
GDP Growth Rate QoQ 2nd Est Q4 0.6% 0.5%
08:00 AM
CH
KOF Leading Indicators FEB 108.0 107.6 ®
08:30 AM
SE
GDP Growth Rate YoY Q4 3.3% 2.9%
08:30 AM
SE
GDP Growth Rate QoQ Q4 0.9% 0.8%
08:55 AM
DE
Unemployment Change FEB -22K -25K
08:55 AM
DE
Unemployment Rate FEB 5.4% 5.4%
09:00 AM
PL
GDP Growth Rate YoY Final Q4 5.1% 4.9%
09:00 AM
PL
GDP Growth Rate QoQ Final Q4 1% 1.2%
10:00 AM
EA
Inflation Rate YoY Flash FEB 1.2% 1.3%
10:00 AM
EA
Core Inflation Rate YoY Flash FEB 1% 1%
10:00 AM
IT
Inflation Rate YoY Prel FEB 0.6% 0.9%
10:00 AM
IT
Inflation Rate MoM Prel FEB 0.1% 0.3%
12:00 PM
BR
Unemployment Rate JAN 12.2% 11.8%
12:00 PM
IN
GDP Growth Rate YoY Q4 7.2% 6.5% ®
12:00 PM
IN
Fiscal Year GDP Growth Final 2016-17 7.1% 8.2%
12:00 PM
ZA
Balance of Trade JAN ZAR-27.7B ZAR15.31B ®
01:30 PM
US
PCE Prices QoQ 2 Est Q4 2.7% 1.5%
01:30 PM
US
Core PCE Prices QoQ 2 Est Q4 1.9% 1.3%
01:30 PM
US
GDP Growth Rate QoQ 2nd Est Q4 2.5% 3.2%
01:30 PM
US
GDP Price Index QoQ 2nd Est Q4 2.3% 2.1%
02:45 PM
US
Chicago PMI FEB 61.9 65.7
03:00 PM
US
Pending Home Sales YoY JAN -3.8% 0.4% ®
03:00 PM
US
Pending Home Sales MoM JAN -4.7% 0% ®
03:30 PM
US
EIA Crude Oil Stocks Change 23/FEB 3.019M -1.616M
03:30 PM
US
EIA Gasoline Stocks Change 23/FEB 2.483M 0.261M
06:30 PM
MX
Banxico Inflation Report
10:30 PM
AU
AIG Manufacturing Index FEB 57.5 58.7
Thursday March 01 2018 Actual Previous Consensus
12:00 AM
KR
Balance of Trade FEB $3.3B $3.6B ®
01:45 AM
CN
Caixin Manufacturing PMI FEB 51.6 51.5
04:00 AM
ID
Core Inflation Rate YoY FEB 2.58% 2.69%
04:00 AM
ID
Inflation Rate YoY FEB 3.18% 3.25%
05:00 AM
JP
Consumer Confidence FEB 44.3 44.7
06:00 AM
RU
Markit Manufacturing PMI FEB 50.2 52.1
06:45 AM
CH
GDP Growth Rate YoY Q4 1.9% 1.2%
06:45 AM
CH
GDP Growth Rate QoQ Q4 0.6% 0.7% ®
07:00 AM
GB
Nationwide Housing Prices YoY FEB 2.2% 3.2%
07:00 AM
GB
Nationwide Housing Prices MoM FEB -0.3% 0.8% ®
08:00 AM
ES
GDP Growth Rate YoY Final Q4 3.1% 3.1%
08:00 AM
ES
GDP Growth Rate QoQ Final Q4 0.7% 0.7% ®
08:15 AM
ES
Markit Manufacturing PMI FEB 56.0 55.2
08:15 AM
CH
Retail Sales YoY JAN -1.4% 0.7% ®
08:30 AM
CH
SVME Manufacturing PMI FEB 65.5 65.3
08:45 AM
IT
Markit/ADACI Manufacturing PMI FEB 56.8 59
08:55 AM
DE
Markit Manufacturing PMI Final FEB 60.6 61.1
09:00 AM
EA
Markit Manufacturing PMI Final FEB 58.6 59.6
09:00 AM
IT
Unemployment Rate JAN 11.1% 10.9% ®
09:00 AM
ZA
ABSA Manufacturing PMI FEB 50.8 49.9
09:30 AM
GB
BoE Consumer Credit JAN £1.357B £1.58B ®
09:30 AM
GB
Mortgage Approvals JAN 67.48K 61.69K ®
09:30 AM
GB
Markit/CIPS Manufacturing PMI FEB 55.2 55.3
10:00 AM
EA
Unemployment Rate JAN 8.6% 8.6% ®
12:00 PM
BR
GDP Growth Rate YoY Q4 2.1% 1.4%
12:00 PM
BR
GDP Growth Rate QoQ Q4 0.1% 0.2% ®
01:30 PM
CA
Current Account Q4 C$-16.4B C$-18.6B ®
01:30 PM
US
PCE Price Index MoM JAN 0.4% 0.1%
01:30 PM
US
PCE Price Index YoY JAN 1.7% 1.7%
01:30 PM
US
Personal Income MoM JAN 0.4% 0.4%
01:30 PM
US
Personal Spending MoM JAN 0.2% 0.4%
02:00 PM
MX
Business Confidence FEB 50.5 50.2 ®
02:45 PM
US
Markit Manufacturing PMI Final FEB 55.3 55.5
03:00 PM
US
Fed Chair Powell Testimony
03:00 PM
US
ISM Manufacturing PMI FEB 60.8 59.1
03:00 PM
US
Construction Spending MoM JAN 0% 0.8% ®
03:00 PM
US
ISM Manufacturing Employment FEB 59.7 54.2
04:00 PM
US
Fed Dudley Speech
06:00 PM
BR
Balance of Trade FEB $4.91B $2.77B
08:00 PM
US
Total Vehicle Sales FEB 17.08M 17.16M
11:30 PM
JP
Unemployment Rate JAN 2.4% 2.8%
11:30 PM
JP
Jobs/applications ratio JAN 1.59 1.59
Friday March 02 2018 Actual Previous Consensus
07:00 AM
DE
Retail Sales MoM JAN -0.7% -1.1% ®
07:00 AM
DE
Retail Sales YoY JAN 2.3% -0.2% ®
08:00 AM
ES
Unemployment Change FEB -6.28K 63.7K
09:00 AM
IT
GDP Growth Rate YoY Final Q4 1.6% 1.7%
09:00 AM
IT
GDP Growth Rate QoQ Final Q4 0.3% 0.4%
09:30 AM
GB
Construction PMI FEB 51.4 50.2
10:00 AM
GB
BoE Carney Speech
01:00 PM
SG
SIPMM Manufacturing PMI FEB 52.7 53.1
01:30 PM
CA
GDP Growth Rate Annualized Q4 1.7% 1.5% ®
01:30 PM
CA
GDP Growth Rate QoQ Q4 0.4% 0.4%
01:30 PM
CA
GDP MoM DEC 0.1% 0.4%
01:50 PM
BR
Consumer Confidence FEB 102.7 102.9
03:00 PM
US
Michigan Consumer Sentiment Final FEB 99.7 95.7
GB
Prime Minister Theresa May Speech
Sunday March 04 2018 Actual Previous Consensus
10:30 PM
AU
AIG Services Index FEB 54.0 54.9
IT
General Elections
Monday March 05 2018 Actual Previous Consensus
12:00 AM
CN
National People's Congress
12:30 AM
AU
Building Permits MoM JAN 17.1% -20.6% ®
01:45 AM
CN
Caixin Services PMI FEB 54.2 54.7
04:00 AM
MY
Balance of Trade JAN MYR9.7B MYR7.3B
07:00 AM
TR
Inflation Rate YoY FEB 10.26% 10.35%
08:15 AM
ES
Markit Services PMI FEB 57.3 56.9
08:45 AM
IT
Markit/ADACI Services PMI FEB 55.0 57.7
09:00 AM
ES
Consumer Confidence FEB 99.7 102.3
09:30 AM
GB
Markit/CIPS UK Services PMI FEB 54.5 53
10:00 AM
EA
Retail Sales MoM JAN -0.1% -1% ®
10:00 AM
EA
Retail Sales YoY JAN 2.3% 2.1% ®
10:00 AM
GR
GDP Growth Rate YoY Q4 1.9% 1.4% ®
10:00 AM
GR
GDP Growth Rate QoQ Q4 0.1% 0.4% ®
02:45 PM
US
Markit Composite PMI Final FEB 55.8 53.8
02:45 PM
US
Markit Services PMI Final FEB 55.9 53.3
03:00 PM
US
ISM Non-Manufacturing PMI FEB 59.5 59.9
03:00 PM
US
ISM Non-Manufacturing Employment FEB 55.0 61.6
06:15 PM
US
Fed Quarles Speech
11:00 PM
KR
Inflation Rate YoY FEB 1.4% 1.0%
Tuesday March 06 2018 Actual Previous Consensus
12:30 AM
AU
Current Account Q4 A$-14B A$-9.1B
12:30 AM
AU
Retail Sales MoM JAN 0.1% -0.5%
01:00 AM
PH
Inflation Rate YoY FEB 4.5% 4%
03:30 AM
AU
RBA Interest Rate Decision 1.5% 1.5%
08:15 AM
CH
Inflation Rate YoY FEB 0.6% 0.7%
08:30 AM
DE
Construction PMI FEB 52.7 59.8
09:30 AM
ZA
GDP Growth Rate YoY Q4 1.5% 1.3% ®
09:30 AM
ZA
GDP Growth Rate QoQ Q4 3.1% 2.3% ®
12:00 PM
BR
Industrial Production YoY JAN 5.7% 4.5% ®
12:30 PM
US
Fed Dudley Speech
01:00 PM
RU
Inflation Rate YoY FEB 2.2% 2.2%