- A quieter week for economic data
- Earnings season remains in focus
- Rate decision from the Reserve Bank of Australia
Monday 06 February
The week kicks off with Australian Retail Sales and the MI Inflation Gauge. From Germany we have Factory Orders. Then we have the UK’s Construction PMI along with the Eurozone’s Retail Sales and Sentix Investor Confidence survey. Members of the Bank of England’s Monetary Policy Committee Catherine Mann and Huw Pill give speeches. Earnings updates include Activision Blizzard, Loews Corp, Spirit Air, Tenet Health, Lyft, Tyson Foods and Hasbro.
Tuesday 07 February
Overnight we have the British Retail Consortium’s Retail Sales Monitor. From Australia we have the Trade Balance and then the Reserve Bank of Australia’s (RBA) interest rate decision and accompanying rate statement. The RBA raised rates by 25 basis points at the end of last year, as expected, and it has now increased its headline Cash Rate by 300 basis points between May and December 2022. Despite this, inflation is proving persistent, with the last CPI update showing inflation hit 7.8% at the end of 2022 taking it up to a 33-year high. Price rises appear to be spread over all goods and services, although housing costs and food are both noted contributors. For this reason, the consensus view is that the RBA will continue to tighten monetary policy, not just at this meeting, but as we get further into 2023. Later, we have German Industrial Production, Swiss Foreign Currency Reserves, the Swiss Unemployment Rate and the UK’s Halifax House Price Index. From the US we the Trade Balance, IBD/TIPP Economic Optimism survey and Consumer Credit. US Federal Reserve Chair Jerome Powell will also be speaking at the Economic Club of Washington. Today’s earnings include Yum China Holdings, Royal Caribbean Cruises, Chipotle and Uber.
Wednesday 08 February
As noted earlier, this is a noticeably quieter week for economic updates, particularly when compared with last week. Today we have French Private Payrolls and Italian Retail Sales. From the US we have Wholesale Inventories and weekly Crude Oil Inventories. Federal Reserve and FOMC member John Williams will be speaking. Key earnings reports come from Yum Brands, CVS Health, MGM, Disney, Robinhood and Philip Morris.
- Free ticket for the IX Trader Show in London on 27th September
- Trade Nation partners with TradingView to enhance low, fixed cost spreads offering
Thursday 09 February
Overnight we have the UK’s Royal Institute of Chartered Surveyors House Price Balance, followed by the Bank of England’s Monetary Policy Report Hearings. Then we have the EU Economic Forecasts. From the US we have weekly Unemployment Claims with a speech from German Bundesbank President Joachim Nagel. As for corporate earnings we have results from Under Armour, Cameco, Ralph Lauren, Hilton and PepsiCo.
Friday 10 February
Overnight we have the CPI and Producer Price Index (PPI) from China and the RBA releases its latest Monetary Policy Statement. From Japan we have Preliminary Machine Tool Orders. From the UK we have updates on Gross Domestic Product (GDP), Construction Output, the Goods Trade Balance, Index of Services, Industrial Production, Manufacturing Production and Business Investment. The GDP number will be in focus given the recent report from the International Monetary Fund (IMF) which downgraded its assessment of the UK’s economic growth prospects for 2023. The IMF expects UK growth to contract this year, making it the worst performing ‘advanced economy’. There’s an update on Canadian Unemployment and from the US we have Consumer Sentiment and Inflation Expectations. Today’s top earnings come from ARC, BGC and Fortis.
*Earnings calendar 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.
