The most important economic events of this week will be the release of the Fed meeting’s minutes, the report on existing homes sales in the USA, revised data on the UK GDP, updated information on the European PMI, as well as the data on the Japan’s inflation.
Monday, February 19. The financial markets will be closed in China and in the USA. In China, the New Year’s Day is celebrated, in the President’s Day is celebrated in the USA. However, on Monday, investors will be interested in the Statistics Bureau of Japan that will release the report on the Japan’s trade balance for January. Market analysts expect the general inflation to remain at the positive level, showing 1.3% increase compared to the same period of 2017. That will become the 13th month of growth in a row.
Tuesday, February 20. The China’s financial markets won’t work due to the New Year’s celebration. The Reserve Bank of Australia will publish the last meeting’s minutes, the German ZEW institute will release the data on the German economic sentiment, and Canada will publish the wholesale sales data. The highlights of Tuesday will be the reports of the Bank of England president Mark Carney and other officials on the UK inflation rate, as well as their projections of the economic situation at The Commons Treasury Select Committee
Wednesday, February 21. The China’s financial markets will still be closed. The same day, the reports on Eurozone manufacturing and services PMI will be published. Experts expect a moderate decline in these indexes. Besides, there will be the reports on the U.S. existing homes sales. According to consensus forecast, the amount of existing home sales will be 0.9% up, from 5.57 million of houses in December to 5.62 million of houses in January. Investors will focus their attention on the publication of the last FOMC meeting’s minutes. At the meeting on January 31, the U.S. central bank retained the interest rate unchanged and predicted inflation growth this year. The next Fed meeting is planned for March 20-21. Analysts think, federal fund rate is 82% likely to rise, as a result of the meeting, according to Investing.com forecast.
Thursday, February 22. IFO institute will release the German PMI data. The USA will publish the revised data for the fourth quarter of 2017, and preliminary data on business investment volume. The same day, the European central bank will release the minutes of its January meeting, Canada will publish the report on retail sales. Besides, there will be the data on the US initial jobless claims. The highlight of the day will be the publication of the UK GDP revised data for the fourth quarter of 2017 by the Office For National Statistics (ONS). GDP is expected to have been 0.5% up in the last quarter of 2017, which indicates the UK economy’s strength. The initially recorded GDP growth by 1.5% Y-o-Y is not expected to be changed.
Friday, February 23. The revised information on Eurozone inflation will be published. The data on retail sales in New Zealand will be also released on Friday, as well as the report on the Canada’s inflation.