Friday, February 3, 2023

Economic calendar: Speeches of ECB members dominate the calendar

  • European indices prepare to open with gains
  • WSJ publishes article by Fed member suggesting 25 bp rate hike
  • Speeches by ECB members including President LagardeI

European index futures pointed to a slightly higher open in the cash session. US indices gained on Friday on dovish comments from Fed members. Sentiments have been further bolstered by a weekend article by a Wall Street Journal Fed insider who claims the bank will announce a 25 basis point rate hike on February 1, 2023. ,

There is not much relevant data in today’s economic calendar. In fact, there are no scheduled reports that can make big moves in the broader financial markets. Due to a series of speeches by ECB members, including ECB President Lagarde, at 5:45 pm GMT, the EUR may experience some volatility throughout the day. Things get more interesting as the week progresses with the release of European PMIs, the US Q4 GDP report and the Bank of Canada rate decision.

9:00 am GMT – Poland, December data pack.

  • Industrial Production. Expected: 1.4% YoY. Previous: 4.6% p.a.
  • manufacture-assembly production. Expected: 2.7% YoY. Previous: 4.0% p.a.
  • Retail Sales. Expected: 17.8% YoY. Previous: 4.0% p.a.

speeches of central bankers

  • 10:45 GMT – ECB Review
  • 13:30 GMT – BCE VISCO
  • 14:30 GMT – ECB’s Panetta
  • 16:00 GMT – BCE Holzmann
  • 17:45 GMT – ECB President Lagarde

Major macro events in the second half of the week

  • full week chinese lunar new year holidays
  • Mars: PMI for January in Europe and America
  • Wednesday: bank of canada rate decision
  • Thursday – IUS GDP report for the fourth quarter of 2022
  • friday – US PCE Inflation for December

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Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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