This week will be a combination of PMI data, interest rate decisions, and GDP figures of several countries. We’ll fill you in with the details below:
Event:Non-Manufacturing PMI (Feb) – China
Date:March 3, 2014
Time:1:00am (GMT)
What It Is About and Why It’s Important
China kicks off March with its Non-Manufacturing PMI which is currently at 53.4. Less than an hour after that will be the release of the HSBC Manufacturing PMI which is expected to be lower than the current 49.5 at 48.5.
Event:ECB Mario Draghi’s Speech – European Union
Date:March 3, 2014
Time:2:00pm (GMT)
What It Is About and Why It’s Important
The market is definitely waiting for what the current ECB president has to say about the economy and the EU’s possible strategy, so expect volatility in the euro during this event.
Event:ISM Manufacturing PMI (Feb) – United States
Date:March 3, 2014
Time:3:00pm (GMT)
What It Is About and Why It’s Important
The US ISM Manufacturing PMI is expected to be slightly higher in February at 51.5 than the previous 51.3.
Event:RBA Interest Rate Decision – Australia
Date:March 4, 2014
Time:3:30am (GMT)
What It Is About and Why It’s Important
The aussie has been on a roll in February. It remains to be seen, however, if it continues its winning streak this March. Much depends on the RBA interest rate decision happening on Tuesday.
Event:GDP (QoQ/YoY, Q4) – Australia
Date:March 5, 2014
Time:12:30am (GMT)
What It Is About and Why It’s Important
Australia is expected to announce a slightly improved GDP for Q4, with a 0.7% growth compared to the previous quarter, and a 2.5% growth compared to the previous 12 months.
Event:GDP (QoQ/YoY, Q4) – European Union
Date:March 5, 2014
Time:10:00pm (GMT)
What It Is About and Why It’s Important
The EU is also set to release its GDP data on Wednesday. A 0.3% growth is expected over the past quarter, and a 0.5% growth is expected over the past 12 months.
Event:BoC Interest Rate Decision – Canada
Date:March 5, 2014
Time:3:00pm (GMT)
What It Is About and Why It’s Important
Canada is largely expected to maintain its rate at 1%, but the accompanying statement will definitely be worth a read.
Event:ISM Non-Manufacturing PMI – United States
Date:March 5, 2014
Time:3:00pm (GMT)
What It Is About and Why It’s Important
The US ISM Non-Manufacturing PMI is expected to remain flat at 54.
Event:BoE Interest Rate Decision/Purchase Asset Facility – United Kingdom
Date:March 6, 2014
Time:12:00pm (GMT)
What It Is About and Why It’s Important
The UK will have a combination of two important events on Thursday, wherein it is expected to maintain its asset purchase facility at GBP 375 billion, while the interest rate is seen to remain at 0.5%.
Event:ECB Interest Rate Decision – European Union
Date:March 6, 2014
Time:12:45pm (GMT)
What It Is About and Why It’s Important
The EU’s interest rate is currently at 0.25%, and it remains to be seen whether or not Mr Draghi and company will announce a change on Thursday.
Event:Employment data – Canada
Date:March 7, 2014
Time:1:30pm (GMT)
What It Is About and Why It’s Important
Canada will release it employment-related data on Friday. Its unemployment rate is currently at 7%, while its net change in employe is at 29.4K.
Event:Nonfarm Payrolls/Employment data – United States
Date:March 7, 2014
Time:1:30pm (GMT)
What It Is About and Why It’s Important
Happening at the same time as Canada's announcement, the NFP numbers are expected to be higher in February at 160K compared to the previous 113K. Meanwhile, the country’s unemployment rate is seen to remain at 6.6%.
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