This week, the market’s attention was primarily on GDP data from the United States, Germany, and Canada. Investors also kept a close watch on US inflation and personal consumption expenditure reports.
Germany:
● At 9:00 a.m. GMT, the IFO Business Climate Index for February was released, remaining steady at 85.2.
Eurozone :
● At 10:00 a.m. GMT, the January inflation report was published. The core CPI held at 2.7% year-over-year, while the headline CPI stood at 2.5% year-over-year and dropped from 0.4% to -0.3% month-over-month.
Germany:
● At 7:00 a.m. GMT, the fourth-quarter GDP report was released, demonstrating a 0.2% contraction both year-over-year and quarter-over-quarter.
United States:
● At 3:00 p.m. GMT, the Conference Board Consumer Confidence Index for February was published, dropping from 105.3 to 98.3.
Germany:
● At 7:00 a.m. GMT, the GfK Consumer Climate Index for March was published, showing a decline from -22.6 to -24.7.
United States:
● At 3:00 p.m. GMT, the EIA crude oil inventory report evidenced a decrease of 2.332 million barrels, following a previous increase of 4.633 million barrels.
● At the same time, data on new home sales for January was released, with sales totaling 657,000 compared to 734,000 in December.
Switzerland :
● The fourth-quarter GDP report released at 8:00 a.m. GMT demonstrated economic growth slowing from 0.4% to 0.2%.
United States :
● At 1:30 p.m. GMT, the weekly initial jobless claims report was released, revealing an increase in applications to 242,000 from the previous 220,000.
● At the same time, revised fourth-quarter GDP data showed the economy grew by 2.3%.
Germany:
● At 8:55 a.m. GMT, February’s labor market data will be released. In the previous month, the number of unemployed increased by 11,000, while the unemployment rate was at 6.2%.
● At 1:00 p.m. GMT, the February inflation report will be published. Last month, the Consumer Price Index was -0.2% month-over-month and 2.3% year-over-year.
Eurozone :
● At 9:00 a.m. GMT, the Purchasing Managers’ Index (PMI) is expected to increase from 51.3 to 51.5, while the Manufacturing PMI is projected to rise from 46.6 to 46.9.
Canada:
● At 3:30 a.m. GMT, the December GDP report is anticipated to show 0.3% growth, recovering from the previous 0.2% decline.
United States:
● At 1:30 p.m. GMT, January’s personal consumption expenditure data will be released. The Core Price Index is expected to increase from 0.2% to 0.3%, while personal spending growth is projected to slow from 0.7% to 0.2%.
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