The Week's Major EventsThe week starts light, with a bank holiday in the US, but builds up rhythm as Japan releases its trade balance data on Tuesday, while the FOMC minutes are the event of the week on Wednesday. Thursday is a big day for US data, with many releases scheduled, while, on Friday, Japanese inflation and Canadian Retail Sales are out.
Monday - 18 February 2019
US President's Day (Full Day) – No stock trading session in the US on account of the President's Day.
Tuesday - 19 February 2019
RBA Minutes (AUD, GMT 00:30) – The RBA minutes will provide more insight on the views the Australian Central Bank has about the economy.
Average Earnings and Unemployment (GBP, GMT 09:30) – Earnings are expected to have grown by 3.4% in the last quarter of 2018, while the ILO Unemployment Rate for the 3 months to December is expected to have declined to 3.9%.
Trade Balance (JPY, GMT 23:50) - Japanese imports are expected to have increased by 3.7% y/y in January, compared to 1.9% in December, in expectation of higher domestic consumption. Exports are expected to have declined by 1.9% y/y in January. Overall, the trade balance is expected to have improved in January.
Wednesday – 20 February 2019
Wage Price Index (AUD, GMT 00:30) – Australian wages are expected to have increased by 0.6% q/q in the final quarter of 2018, at the same level as in 2018Q3.
FOMC Minutes (USD, GMT 19:00) – FOMC minutes, detailing the view of each of the Fed Governors and FOMC Members shed light on their perspectives over the future of the US economy.
Thursday - 21 February 2019
Employment Data (AUD, GMT 01:30) - Employment is expected to have increased by 15K in Australia in January, compared to 21.6K in December. The unemployment rate is expected to have remained at 5%.
All Industry Activity Index (JPY, GMT 04:30) – Japanese industry activity is expected to have grown by 0.5%, compared to a 0.3% contraction last month, indicating that the Japanese economy is slowly increasing consumption.
EU PMIs (EUR, GMT 09:00) - Both manufacturing and services February PMIs are expected to have remained at the same levels as in January.
Durable Goods and Philly Fed (USD, GMT 13:30) - Durable Goods release has been delayed by the US government shutdown and are expected to have increased by 0.2% m/m in December. Philly Fed Index is expected to remain on positive grounds, albeit decreasing to 14 compared to 17 in January.
US PMIs (USD, 14:45) - The Manufacturing PMI is expected to have declined to 54.7 in February, compared to 54.9 in January, while the Services PMI is expected to have remained unchanged at 54.2
Existing Home Sales (USD, GMT 15:00) - Home sales have regained their status as an important indicator after the financial crisis and can have a strong effect on the markets. The release is expected to record 5.05M compared to 4.99M in December.
Friday - 22 February 2019
National CPI Index (JPY, GMT 01:30) - The Japanese price index is expected to have increased to 0.8% on a y/y basis, compared to 0.7% on December.
CPI Inflation (EUR, GMT 10:00) - Core CPI inflation is expected to have grown by 1.1% y/y in January, the same level as December. CPI inflation is also expected to have increased by 1.4% y/y, the same growth rate as December.
Retail Sales (CAD, GMT 13:30) - Canadian sales are expected to have decreased by 0.2% m/m in December, compared to 0.9% m/m in November.
*Delayed data from the US Government shutdown is tentatively scheduled for next week.
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