The economic data agenda lacks important events this week, but it is not without some data that may have an impact on market movements, which we will review the most
Monday…
It may be a quiet day due to the lack of important data.
Tuesday…
During the European session, the markets will be waiting for a hearing on inflation report from Britain at 01:00 pm GMT … The Governor of the Bank speaks during this session about the levels of inflation and the future economic outlook of the country … This session usually affects heavily on the movements of sterling.
During the US session, the markets will be waiting for the consumer confidence index from the United States at 6:00 pm Mecca time, and is expected to record at 124.3 in February, higher than the previous reading of 120.2 … (Impact: Have a positive impact on the trading of the US dollar).
Wednesday…
There is nothing important during the Asian and European period, and the focus will be on US period data starting with Canadian inflation data at 04:30 GMT … Markets expect the Core CPI to rise to 0.2% in January from the previous reading Negative (-0.1)% … (Effect: A final reading greater than expectations could have a positive effect on the CAD trading).
Followed by Pending Home Sales from the United States at 06:00 and expected to see a significant improvement to 0.8% in January compared to the previous negative reading (-2.2%). (Effect: A final reading larger than expectations could have a positive impact on the USD trading).
At 06:30, oil traders will be waiting for the US Energy Agency’s report on crude oil inventories, and markets expect a surplus of about 3 million barrels last week, slightly down from the previous 3.6 million barrels. (Effect: A final reading below expectations may have a positive impact on oil trading).
Thursday…
There will be no significant events during the Asian and European period, and the focus will be on the gross domestic product from the United States of America at 4:30 pm Mecca time, and is expected to decline to 2.6% in the last quarter of last year compared to the previous reading, Negative to 3.4% … (Effect: A final reading larger than expectations could have a positive impact on the USD trading).
Friday…
During the European session, markets will be waiting for the PMI index at 11:55 am GMT, and is expected to remain steady at 47.6 in February, unchanged from the previous reading … (Effect: A final reading higher than expectations could have a positive impact on Euro trading).
Followed by the annual consumer price index from the European Union at 01:00 pm GMT, and analysts expect it to rise to 1.5% in February compared to the previous reading of 1.4% … (Effect: A final reading greater than expectations may have a positive impact on trades euro).
The US period starts its data from Canada with GDP at 04:30 GMT, and is expected to improve to 0.0% in December last year compared to the previous negative reading of -0.1%. Of expectations could have a positive impact on the CAD trading).
From the US, traders will wait for the ISM Manufacturing PMI at 18:00 GMT, and is expected to drop slightly to 56.0 in February from the previous 56.6 (Impact: Final reading). Higher than expectations may have a positive impact on the trading of the US dollar).
