Weekly Economic Calendar

February 12 – February 16, 2024 Economic report and policy meetings

February 12

Australia:  Westpac Consumer Confidence Index – February   

Brazil:  Brazilian Central Bank (BCB) Focus Market Readout   

Euro-Zone:  European Commission Winter Forecasts, France: Unemployment Rate – 4^th Qtr.

India:  Industrial Production (YoY) – December, Inflation Rate (YoY) – January, Manufacturing Production (YoY) – December

Japan:  Producer Price Index (PPI) (MoM) – January, PPI (YoY) - January

Russia:  Balance of Trade – December   

Switzerland:  Inflation Rate (YoY) - January

U.K.:  Employment Change – December, Unemployment Rate – December, Average Earnings including Bonus (3Mo/Yr.) – December, Claimant Count Change – January, Bank of England (BoE) Governor Bailey Speech

U.S.:  Monthly Budget Statement, Federal Reserve’s Bowman Speech, Federal Reserve’s Kashkari Speech

February 13

Euro-Zone:  ZEW Economic Sentiment Index – February, Germany: ZEW Economic Sentiment Index – February, ZEW Current Conditions – February

New Zealand:  Electronic Retail Card Spending (MoM) - January, Electronic Retail Card Spending (YoY) - January

U.K.:  Inflation Rate (YoY) – January, Core Inflation Rate (YoY) - January, Inflation Rate (MoM) - January  

U.S.:  Inflation Rate (YoY) – January, Core Inflation Rate (YoY) – January, Core Inflation Rate (MoM) – January, Consumer Price index (CPI) – January, CPI s.a. – January, Inflation Rate (MoM) – January

The Bureau of Labor Statistics releases the consumer price index for January. Consensus estimate is for the CPI to rise 2.9% year over year, half a percentage point less than in December. The core CPI, which excludes volatile food and energy prices, is expected to increase 3.7%, compared with 3.9% previously. The annualized change in the core CPI is at its lowest level since May of 2021. Earnings season is more than half-way complete, as about 60% of S&P 500 index companies have announced results so far.

February 14

Australia:  Employment Change – January, Unemployment Rate – January, Full Time Employment Change – January, Consumer Inflation Expectations - February    

Euro-Zone:  GDP Growth Rate (QoQ) 2^nd Estimate – 4^th Qtr., GDP Growth Rate (YoY) 2^nd Estimate – 4^th Qtr., Industrial Production (YoY) – December, Spain: Consumer Confidence - January

Indonesia:  Balance of Trade - January

Japan:  GDP Growth Annualized Preliminary – 4^th Qtr., GDP Growth Rate (QoQ) Preliminary – 4^th Qtr., Industrial Production (YoY) Final – December      

Netherlands:  GDP Growth Rate (QoQ) Flash – 4^th Qtr., GDP Growth Rate (YoY) Flash – 4^th Qtr., Unemployment Rate – January

Philippines:  Interest Rate Decision

Poland:  GDP Growth Rate (QoQ) Preliminary – 4^th Qtr., GDP Growth Rate (YoY) Preliminary – 4^th Qtr.

Russia:  Inflation Rate (MoM) – January, Inflation Rate (YoY) – January

U.K.:  GDP 3-Month Average – December, GDP Growth Rate (YoY) Preliminary – 4th – Qtr., GDP (YoY) – December, Balance of Trade – December, Construction Output (YoY)- December, GDP Growth Rate (QoQ) Preliminary – 4^th Qtr., GDP (MoM) – December, Goods Trade Balance Non-EU – December, Industrial Production (YoY) – December, Manufacturing Production (YoY) - December

U.S.:  Producer Price Index (PPI) (MoM) Final – December, MBA 30-Year Mortgage Rate (February 9),  MBA Survey Indexes - Mortgage Market Index, Mortgage Applications (February 9), Mortgage Market Change, Mortgage Refinance Index, Refinancing Change, MBA Mortgage Approvals (February 9), Department of Energy (DOE) U.S. Crude Oil Inventories (February 9), DOE Cushing OK Crude Inventory (February 9), DOE U.S. Gasoline Inventories (February 9), DOE U.S. Distillate Inventory (February 9), DOE U.S. Refinery Utilization (February 9), DOE Crude Oil Implied Demand (February 9), Gasoline Implied Demand (February 9), Distillate Implied Demand (February 9), API Crude Oil Stock Change (February 9), EIA Natural Gas Stocks Change – February 9, Federal Reserve’s Barr Speech

February 15

Euro-Zone:  European Central Bank (ECB) President Lagarde Speech, Balance of Trade – December, Italy: Balance of Trade – December, France: Inflation Rate (MoM) Final – January, Inflation Rate (YoY) Final – January  

India:  Balance of Trade – January

Japan:  Foreign Bond Investment – February 10^th, Tertiary Industry Index (MoM) – December

New Zealand:  Business NZ Purchasing Managers Index (PMI) – January, Reserve Bank of New Zealand (RNBZ) Governor Orr Speech  

Poland:  Inflation Rate (YoY) – January

South Korea:  Unemployment Rate – January

Switzerland:  Consumer Confidence – January, Industrial Production (YoY) – 4^th Qtr.

U.K.:  NIESR Monthly GDP Tracker – January, Retail Sales (YoY) – January, Retail Sales excluding Fuel (YoY) – January

U.S.:  Retail Sales (MoM) – January, Retail Sales Excluding Autos (MoM) – January, Retail Sales Excluding Gas/Autos (MoM) – January, Industrial Production (MoM) – January, Industrial Production (YoY) – January, Business Inventories (MoM) – December, National Association of Home Builders (NAHB) Housing Market Index – February, Philadelphia Federal Reserve Manufacturing Index – February, Continuing Jobless Claims – February 3, Initial Jobless Claims – February 10, Net Long-term Treasury International Capital (TIC) Flows – December, Federal Reserve’s Waller Speech, Federal Reserve’s Bostic Speech

The Census Bureau reports retail sales data for January. Economists forecast a 0.2% month-over-month decline in consumer spending, following a 0.6% increase in December.

February 16

U.S.:  Building Permits Preliminary – January, Producer Price Index (PPI) (MoM) – January, Building Permits (MoM) Preliminary – January, Housing Starts (MoM) – January, University of Michigan (Consumer) Sentiment Preliminary – February, Baker Hughes U.S. Rig Count – February 16, Federal Reserve’s Barr Speech, Federal Reserve’s Daly Speech, Federal Reserve’s Pill Speech

The University of Michigan releases its Consumer Sentiment Survey for February. Expectations are for a 79 reading, even with the December figure. Consumers’ expectations for the year ahead inflation was 2.9% in December, the lowest level in three years.

Bold denotes likely market-moving newsflash which traders consider significant to foreign exchange levels or otherwise important/noteworthy information, i.e., market holiday’s which will affect standard settlement dates.