Week Ahead

Long-awaited President Biden's $1.9 trillion coronavirus aid bill was passed by the Senate on Saturday and sent back to the House for approval which will take place on Tuesday. Elsewhere, monetary policy meetings in the Eurozone and Canada will be keenly watched, as well as updated GDP figures for Japan, the Eurozone, the UK and South Africa. Other important releases include US, China and India inflation data; US and Australia consumer sentiment; UK and China foreign trade; Eurozone and India industrial output; and Japan current account.
Joana Ferreira | joana.ferreira@tradingeconomics.com 3/5/2021 8:37:16 PM
In the US, the consumer price report for February will probably show inflation rate picking up to a one-year high of 1.7 percent, moving closer to the US Federal Reserve's target of about 2 percent and adding to investors' concerns over a surge in borrowing costs. At the same time, the preliminary estimate of Michigan consumer sentiment for March will likely show a slight improvement in morale, helped by quickening vaccination rates and the prospect of additional stimulus from the government. Other notable publications include producer prices, JOLTs job openings, the government's monthly budget statement, and the final reading of wholesale inventories.

Elsewhere in America, Canada's central bank will probably leave interest rates at record-low levels when it meets on Wednesday. Important data to follow include Canada employment figures; Mexico inflation rate, consumer morale and industrial output; and Brazil retail trade, consumer confidence and consumer prices.

In the UK investors will turn their attention to monthly GDP figures, alongside industrial production, construction output and trade balance. Figures from the ONS are expected to show Britain’s economy slipped back into contraction in January, with industrial production down for the first time since April's record slump. Elsewhere, Bank of England governor Andrew Bailey is scheduled to speak at the Resolution Foundation on Monday.

Elsewhere in Europe, the European Central Bank will decide on monetary policy and release its latest macroeconomic projections, with investors looking for any sign of policy changes to support the economy amid rising bond yields. On the economic data front, updated figures for the Eurozone's fourth-quarter GDP will be available, as well as industrial production for Germany, France, Italy and Spain. Other key publications are Germany foreign trade and current account; Spain retail trade; Switzerland unemployment rate; Ireland inflation rate; and Turkey jobless rate, industrial production and retail sales. 

In Asia, China will be publishing inflation data for February, with markets pointing to another decline in consumer prices and the largest increase in producer prices since November 2018. In addition, trade figures will provide an insight of the post-pandemic economic recovery, with exports and imports seen rising sharply in January-February. 

Elsewhere, Japan's key data include the final reading of fourth-quarter GDP, current account, household spending, producer prices, and Eco Watchers Survey. Investors in Australia will turn their attention to NAB business confidence, Westpac consumer confidence, and the final reading of building permits. Reserve Bank of Australia governor Philip Lowe will be delivering prepared remarks on the monetary policy to the Australian Financial Review Business Summit.

Other highlights include: India inflation rate and industrial production; South Africa fourth-quarter GDP figures, current account, manufacturing and mining output; and New Zealand Business NZ PMI. 





 


Friday March 05 2021 Actual Previous
01:00 AM
PH
Inflation Rate YoY FEB 4.7% 4.2%
07:00 AM
DE
Factory Orders MoM JAN 1.4% -2.2% ®
07:45 AM
FR
Balance of Trade JAN €-3.95B €-3.57B ®
08:30 AM
GB
Halifax House Price Index MoM FEB -0.1% -0.4% ®
08:30 AM
GB
Halifax House Price Index YoY FEB 5.2% 5.4%
09:00 AM
IT
Retail Sales MoM JAN -3% 2.4% ®
11:00 AM
IE
GDP Growth Rate QoQ Q4 -5.1% 11.8% ®
11:30 AM
ES
Consumer Confidence FEB 65.9 55.7
12:00 PM
BR
Industrial Production YoY JAN 2% 8.2%
12:00 PM
BR
Industrial Production MoM JAN 0.4% 0.8% ®
01:00 PM
RU
Foreign Exchange Reserves FEB $586.3B $590.7B
01:30 PM
CA
Balance of Trade JAN C$1.41B C$-1.98B ®
01:30 PM
US
Balance of Trade JAN $-68.2B $-67B ®
01:30 PM
US
Non Farm Payrolls FEB 379K 166K ®
01:30 PM
US
Unemployment Rate FEB 6.2% 6.3%
03:00 PM
CA
Ivey PMI s.a FEB 60 48.4
04:00 PM
RU
Inflation Rate YoY FEB 5.7% 5.2%
08:00 PM
US
Fed Bostic Speech
CN
National People's Congress
CN
Premier Li Keqiang Speech
Saturday March 06 2021 Actual Previous
CN
National People's Congress
Sunday March 07 2021 Actual Previous
03:00 AM
CN
Exports YoY JAN-FEB 60.6% 18.1%
03:00 AM
CN
Imports YoY JAN-FEB 22.2% 6.5%
03:00 AM
CN
Balance of Trade JAN-FEB $103.25B $78.17B
11:50 PM
JP
Current Account JAN ¥646.8B ¥1165.6B
CN
National People's Congress
Monday March 08 2021 Actual Previous
04:00 AM
MY
Unemployment Rate JAN 4.9% 4.8%
06:45 AM
CH
Unemployment Rate FEB 3.6% 3.7%
07:00 AM
DE
Industrial Production MoM JAN -2.5% 1.9% ®
10:00 AM
GB
BoE Gov Bailey Speech
11:30 AM
BR
BCB Focus Market Readout
12:00 PM
MX
Consumer Confidence FEB 38.4 38.4
03:00 PM
US
Wholesale Inventories MoM JAN 1.3% 0.6% ®
11:50 PM
JP
GDP Growth Rate QoQ Final Q4 2.8% 5.3%
CN
National People's Congress
Tuesday March 09 2021 Actual Previous
12:30 AM
AU
NAB Business Confidence FEB 16 12 ®
01:00 AM
PH
Unemployment Rate Q1 8.7% 8.7%
07:00 AM
DE
Balance of Trade JAN €14.3B €15.2B ®
09:00 AM
IT
Industrial Production MoM JAN 1% 0.2% ®
09:30 AM
ZA
GDP Growth Rate YoY Q4 -4.1% -6.2% ®
09:30 AM
ZA
GDP Growth Rate QoQ Q4 6.3% 67.3% ®
10:00 AM
EA
Employment Change QoQ Final Q4 0.3% 1%
10:00 AM
EA
Employment Change YoY Final Q4 -1.9% -2.1% ®
10:00 AM
EA
GDP Growth Rate YoY 3rd Est Q4 -4.9% -4.2% ®
10:00 AM
EA
GDP Growth Rate QoQ 3rd Est Q4 -0.7% 12.5% ®
12:00 PM
MX
Inflation Rate YoY FEB 3.76% 3.54%
09:30 PM
US
API Crude Oil Stock Change 05/MAR 12.792M 7.356M
10:00 PM
AU
RBA Gov Lowe Speech
11:05 PM
US
Fed Kaplan Speech
11:30 PM
AU
Westpac Consumer Confidence Change MAR 2.6% 1.9%
11:30 PM
AU
Westpac Consumer Confidence Index MAR 111.8 109.1
CN
National People's Congress
Wednesday March 10 2021 Actual Previous
12:30 AM
AU
Building Permits MoM Final JAN -19.4% 12.0%
01:30 AM
CN
Inflation Rate YoY FEB -0.2% -0.3%
01:30 AM
CN
Inflation Rate MoM FEB 0.6% 1%
01:30 AM
CN
PPI YoY FEB 1.7% 0.3%
07:00 AM
TR
Unemployment Rate DEC 12.6% 12.9%
07:00 AM
TR
Unemployment Rate JAN 12.2% 12.6%
07:45 AM
FR
Industrial Production MoM JAN 3.3% -0.7% ®
08:30 AM
CN
New Yuan Loans FEB CNY1360B CNY3580B
10:00 AM
ZA
Business Confidence Q1 35 40
01:20 PM
IL
GDP Growth Rate QoQ 2nd Est Q4 1.6% 9.1% ®
01:30 PM
US
Core Inflation Rate YoY FEB 1.3% 1.4%
01:30 PM
US
Inflation Rate YoY FEB 1.7% 1.4%
01:30 PM
US
Inflation Rate MoM FEB 0.4% 0.3%
01:30 PM
US
Core Inflation Rate MoM FEB 0.1% 0%
02:15 PM
BR
Business Confidence MAR 54.4 59.5
03:00 PM
CA
BoC Interest Rate Decision 0.25% 0.25%
03:30 PM
US
EIA Crude Oil Stocks Change 05/MAR 13.798M 21.563M
03:30 PM
US
EIA Cushing Crude Oil Stocks Change 05/MAR 0.526M 0.485M
03:30 PM
US
EIA Gasoline Stocks Change 05/MAR -11.869M -13.624M
06:00 PM
US
10-Year Note Auction 1.523% 1.155%
07:00 PM
US
Monthly Budget Statement FEB $-311B $-163B
CN
National People's Congress
Thursday March 11 2021 Actual Previous
08:00 AM
CH
SECO Economic Forecasts
11:00 AM
IE
Inflation Rate YoY FEB -0.4% -0.2%
12:00 PM
BR
Inflation Rate YoY FEB 5.20% 4.56%
12:45 PM
EA
ECB Interest Rate Decision 0% 0%
12:45 PM
EA
Deposit Facility Rate -0.5% -0.5%