- Fed’s preferred inflation measure
- Services and Manufacturing PMIs
- Rate decision from the Reserve Bank of New Zealand (RBNZ)
Monday 20 February
It’s Presidents’ Day in the US. This means that banks and stock exchanges are closed, and we’ll also see some trading breaks for other markets. Overnight we have the UK’s Rightmove House Price Index, with Eurozone Consumer Confidence later in the day. During the evening there’s the Producer Price Index (PPI) for New Zealand, followed by Australian Flash Manufacturing and Services PMIs.
Earnings updates are expected from Esports Entertainment NASDAQ:GMBL, Amerisafe NASDAQ:AMSF and American States Water NYSE:AWR.
Tuesday 21 February
Overnight we have the Monetary Policy Meeting Minutes from the Reserve Bank of Australia (RBA) along with the Japanese Flash Manufacturing PMI. We also have the Swiss Trade Balance and the UK’s Public Sector Net Borrowing Requirement.
Then we have the Flash Manufacturing and Services PMIs from France, Germany, the Eurozone, the UK and the US. This data has an added significance for analysts as they are considered to be leading indicators of economic health. Businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into companies’ views of the economy. The indices are calculated using surveys of purchasing managers. These ask respondents to rate the relative level of business conditions including such factors as employment, production, new orders, prices, supplier deliveries and inventories. In addition, the ‘Flash’ numbers are the earliest version of the data and so tend to have the biggest impact.
We also have German and Eurozone ZEW Economic Sentiment surveys and the UK’s CBI Industrial Order Expectations. From Canada we have the Consumer Price Index (CPI) and Retail Sales, while from the US we have Existing Home Sales.
Today’s earnings include Palo Alto Networks NASDAQ:PANW, Clearwater Analytics NYSE:CWAN, Bath & Body Works NYSE:BBWI, Molson Coors NYSE:TAP, Hostess Brands NASDAQ:TWNK, Toll Brothers NYSE:TOL, Coinbase NASDAQ:COIN, Chesapeake Energy NASDAQ:CHK, Caesars Entertainment NASDAQ:CZR, Home Depot NYSE:HD, Sprout Social NASDAQ:SPT and Walmart NYSE:WMT.
Wednesday 22 February
We kick off with Australia’s Wage Price Index and Construction Work Done.
Then there’s the RBNZ’s monetary policy decision, rate statement and press conference. The RNBZ was quick off the mark when it came to taking measures to dampen inflation. New Zealand’s central bank began raising rates in August 2021. Since then, it has raised rates at every single one of its monetary policy meetings taking its Official Cash Rate from 0.25% to 4.25%. But could the RBNZ decide to pause now and reassess its policy, particularly given the economic hit from Cyclone Gabrielle?
Next we have German CPI and the ifo Business Climate survey.
But the main event is the release of minutes from the US Federal Reserve’s FOMC monetary policy meeting at the beginning of the month. This was when the Fed raised rates by 25 basis points, as expected. But investors will be scouring the minutes for any clues over when the US central bank may decide to end this cycle of rate hikes.
Key earnings reports come from Alamo Group NYSE:ALG, Bumble NASDAQ:BMBL, Monster Beverage NASDAQ:MNST, Baidu NASDAQ:BIDU, Mosaic NYSE:MOS, Teekay Corp NYSE:TK, TJX Companies NYSE:TJX, NVIDIA NASDAQ:NVDA, eBay NASDAQ:EBAY, ETSY NASDAQ:ETSY, Garmin NYSE:GRMN, Lucid Group NASDAQ:LCID, Teladoc NYSE:TDOC and NetApp NASDAQ:NTAP.
Thursday 23 February
Overnight we have Australian Private Capital Expenditure. Then there are speeches from the Bank of England’s Catherine Mann and Jon Cunliffe. We have an update on the Eurozone’s CPI, and CBI Realised Sales from the UK. From the US we have another update on Q4 GDP, along with weekly Unemployment Claims and weekly Crude Oil Inventories.
As for corporate earnings we have results from Alibaba NYSE:BABA, Autodesk NASDAQ:ADSK, Akami Tech, Beyond Meat NASDAQ:BYND, Warner Bros Discovery NASDAQ:WBD, PG&E, Carvana NYSE:CVNA, Domino’s Pizza NYSE:DPZ, Keurig Dr Pepper NASDAQ:KDP, Live Nation [LON:NYSE:LYV], Farfetch NYSE:FTCH, Papa John’s NASDAQ:PZZA and Moderna NASDAQ:MRNA.
- Free ticket for the IX Trader Show in London on 27th September
- Trade Nation partners with TradingView to enhance low, fixed cost spreads offering
- S&P 500 hanging on by a thread
Friday 24 February
Overnight we get the UK’s GfK Consumer Confidence survey. From Germany we have the Final GDP and GfK Consumer Climate. From the US we have Personal Income, Personal Spending, New Home Sales, Consumer Sentiment and Inflation Expectations.
But the main event is the latest update on Core PCE (Personal Consumption Expenditures). This is the Federal Reserve’s preferred inflation measure, so investors are hoping that it continues to show inflation declining, along with CPI.
Today’s top earnings come from Northern Oil and Gas NYSE:NOG, Cinemark Holdings NYSE:CNK and Berkshire Hathaway NYSE:BRK.A.
*Earnings calendar is subject to change
David Morrison is an Analyst with Trade Nation. Trade Nation was set up with the specific remit to help customers realise their trading goals by changing the way they engage with the financial markets. As well as providing full transparency and making sure all customers get a fair deal, Trade Nation is fully regulated. This means customers can be confident they’re getting the trading experience they deserve.
