Monday’s economic calendar remains light. After key data from Japan, market volatility may be driven by the diplomatic exchanges between the EU and Trump regarding Ukraine, as well as the outcomes of the emergency meeting of European leaders convened today in Paris by Emmanuel Macron.
For the markets, the most important events will be the Eurozone trade balance and speeches from central bankers (U.S.) and national bankers (Germany). Reserve Bank of Australia will announce its interest rate decision over night, with a raising expectations of a hawkish, 25 bp cut strenthening AUD. Wall Street will be closed today due to the U.S. public holiday (Presidents’ Day).
Today’s Economic Calendar:
11:50 PM GMT, Japan – GDP Data:
- GDP (Q4 YoY): Actual: 2.8%; Forecast: 1.0%; Previous: 1.7%
- GDP (Q4 QoQ): Actual: 0.7%; Forecast: 0.3%; Previous: 0.4%
- Private Consumption Contribution to GDP (Q4 QoQ): Actual: 0.1%; Forecast: -0.3%; Previous: 0.7%
04:30 AM GMT, Japan – December Industrial Production:
- Industrial Production: Actual: -0.2% MoM; Forecast: 0.3% MoM; Previous: -2.2% MoM
- Capacity Utilization: Actual: -0.2% MoM; Previous: -1.9% MoM
10:00 AM GMT, Euro Zone – Eurogroup Meetings
10:00 AM GMT, Euro Zone – Balance of Tade Data for December:
- Trade Balance: forecast 14.4B; previous 16.4B;
11:00 AM GMT, Germany – German Buba Monthly Report
11:00 AM GMT, Germany – German Buba President Nagel Speaks
01:15 PM GMT, Canada – Housing Starts for January:
- forecast 251.0K; previous 231.5K;
01:30 PM GMT, Canada – Foreign Securities Purchases for December:
- forecast 14.23B; previous 16.40B;
01:30 PM GMT, Canada – Foreign Securities Purchases by Canadians for December:
- previous 17.850B;
02:30 PM GMT, United States – FOMC Member Harker Speaks
03:20 PM GMT, United States – FOMC Member Bowman Speaks
11:00 PM GMT, United States – Fed Waller Speaks
03:30 AM GMT, Australia – RBA Interest Rate Decision for February:
- forecast 4.10%; previous 4.35%;
03:30 AM GMT, Australia – RBA Monetary Policy Statement
03:30 AM GMT, Australia – RBA Rate Statement
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