Saturday, March 25, 2023

Economic calendar: Eurozone Q4 GDP, Wall Street results

  • European indices opened with a slight decline
  • GDP report for the euro area, Canada and Italy
  • Results from Caterpillar, McDonald’s and Electronic Arts, among others

European stock indices opened with smaller price gaps on Tuesday after a bearish session on Wall Street yesterday and in Asia today. Energy commodities are pulling down 0.7% with Brent at press time. Precious metals have come under pressure from a stronger USD, with gold down 0.5%, while platinum and silver are down around 1.4% each.

There are some interesting releases in today’s economic calendar. Traders will focus on Europe’s fourth quarter GDP data in the morning, followed by Canada’s monthly GDP report for November in the afternoon. The Conference Board Index for January may also play some tricks. Oil may see some additional action overnight following the release of the API report. Last but not least, Wall Street’s earnings calendar for today is packed with top earnings reports (see list below).

9:55AM CEST – Unemployment rate for Germany, Jan. Expected: 5.5%. Previous: 5.5%

11:00 AM CEST – GDP Report for the Fourth Quarter of Eurozone, 2022. Forecast: -0.1% Q-o-Q. Previous: 0.3% quarterly

11:00 am CEST – Italy reports GDP for the fourth quarter of 2022. Forecast: -0.2% qoq. Previous: 0.5% quarterly

2:30 pm CEST – GDP report for Canada, November. Expected: 0.2% monthly. Previous: 0.1% per month

15:45 CEST – US, Chicago PMI for Jan. Expected: 45.0. Previous: 45.1

16:00 CEST – The Conference Board Confidence Index for US, Jan. Expected: 109.0. Previous: 108.3

22:40h CEST – API report on US oil inventories expected: +0.2Mb. Previous: +3.4MB

22:45h CEST – Data package for New Zealand, Q4 2022.

  • Job change. Expected: 0.3% QoQ. Previous: 1.3% quarterly
  • labour cost. Expected: 1.1% QoQ. Previous: 1.1% QQ
  • Unemployment rate. Expected: 3.3%. Previous: 3.3%

US TODAY’s top earners continue

  • Caterpillar (CAT.US) – Before the market opened
  • ExxonMobil (XOM.US) – Before the Market Open
  • General Motors (GM.US) – Before the Market Open
  • Marathon Petroleum (MPC.US) – Before the Market Open
  • McDonald’s (MCD.US) – Before the Market Open
  • Pfizer (PFE.US) – Before the Market Open
  • Phillips 66 (PSX.US) – Before the Market Open
  • United Parcel Service (UPS.US) – before the market opens
  • Advanced Micro Devices (AMD.US) — After the market closed
  • Electronic Arts (EA.US) – After Market Close

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Nation World News Desk
Nation World News Desk
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