Weekly Fiscal & Political Outlook
The week in view is expected to be packed and will deliver more excitement than the previous week, as the market battles more significant event risk, which would include the all-important #FOMC Meeting Minutes, along with statements from the apex bank in New Zealand and the Australia. The week would start off on Monday quite quiet. Albeit, we’re expecting a very volatile market, and traders shouldn’t be expecting to see anything different moving forward.
The U.S. dollar has an important week ahead of it after the public holiday on Monday, with FOMC Meeting #Minutes being scheduled for Wednesday, alongside the PPI data and the Building Permits. The Unemployment Claims will be due on Thursday, along with the release of the Philly Fed manufacturing Index and the #Crude Oil Inventories. The week would be crowned for the greenback with the release of the CPI data.
Thee Sterling will start off modestly on Tuesday with the release of the CPI data, while the Average Earnings Index will follow on Wednesday, along with the Claimant Count Change. The Retail Sales figure is bill for Friday.
The Euro would have a somewhat quiet week, as we start off today, as the #Mario Draghi, who’s the President of the European Central Bank will testify before the EU Parliament. Next off is the German Constitutional Court ruling billed for Tuesday, it is expected that it could influence the running of the ECB’s OMT policy. The German ZEW Economic Sentiment data is also scheduled for Tuesday.
The week in view will be fairly significant for the Australian Dollar. The Most recent Monetary Policy Meeting Minutes from the Reserve Bank of Australia is due on Tuesday, while the Unemployment Rate along with the #Employment Change data is billed for Thursday release.
The New Zealand Dollar will start off its week’s highlight on Tuesday, with the market expecting to hear from the #Reserve Bank of Australia’s comment on inflation expectations. We also expect to see the GDT #Price Index data the later that same day. The #Retail Sales data is billed for Monday (which is today), while the release of the #PPI Input data is scheduled for Wednesday.
The Lonnie will have a quiet week with no event risk asides the Manufacturing Sales data that is billed for Tuesday, which would be followed on Friday by the Core CPI and Retail Sales data.
There would be nothing of significance as regards the Sterling, except the GDP data during the Market open in Tokyo today. Asides that, the Yen is in for a very quiet week.
The Chinese markets reopens after a 1-week Lunar New Year Holiday and as the country gets back to work, we’re not expecting anything of high relevance apart from the Trade Balance data that is billed today.