March 10 – March 15, 2024 Economic report and policy meetings
March 10
China: National People’s Congress
Japan: GDP Growth Annualized Final – 4th Qtr., GDP Growth Rate (QoQ) Final – 4th Qtr.
March 11
Australia: Reserve Bank of Australia (RBA) Hunter Speech
Brazil: Brazilian Central Bank (BCB) Focus Market Readout
Japan: BSI Large Manufacturing (QoQ) – 1st Qtr., Producer Price Index (PPI) (MoM) – February, PPI (YoY) – February
New Zealand: Electronic Retail Card Spending (MoM) – February, Electronic Retail Card Spending (YoY) - February
Switzerland: Consumer Confidence – February
U.S.: Consumer Inflation Expectations – February
March 12
Brazil: Brazilian Central Bank Focus Market Readout, Inflation Rate (MoM) – February, Inflation Rate (YoY) – February, Business Confidence – March
China: New Yuan Loans – February
Euro-Zone: Germany: Inflation Rate (YoY) Final – February, Inflation Rate (MoM) Final - February
India: Industrial Production (YoY) – January, Inflation Rate (YoY) – February, Manufacturing Production (YoY) – January
Mexico: Industrial Production (YoY) – January
South Korea: Unemployment Rate – February
U.K.: Employment Change – January, Unemployment Rate – January, Average Earnings including Bonus (3Mo/Yr.) – January, Claimant Count Change – February
U.S.: Core Inflation Rate (YoY) – February, Inflation Rate (YoY) – February, Core Inflation Rate (MoM) – February, Consumer Price Index (CPI) – February, CPI s.a. – February, Inflation Rate (MoM) – February, Monthly Budget Statement – February
The Bureau of Labor Statistics releases the consumer price index for February. Consensus estimate is for a 3.1% year-over-year increase, matching the January figure. The core CPI, which excludes volatile food and energy prices, is expected to rise 5.7%, two-tenths of a percentage point less than previously. The annual change in the core CPI is at its lowest level since May of 2021.
March 13
Euro-Zone: Industrial Production (YoY) – January, Germany: 10-Year Bund Auction
Japan: Foreign Bond Investment – March 9
Russia: Balance of Trade – January, Inflation Rate (MoM) – February, Inflation Rate (YoY) - February
U.K.: GDP 3-Month Average – January, GDP (YoY) – January, Balance of Trade – January, Construction Output (YoY) – January, GDP (MoM) – January, Goods Trade Balance – January, Goods Trade Balance Non-EU – January, Industrial Production (YoY) – January, Manufacturing Production (YoY) – January, NIESR Monthly GDP Tracker - February
U.S.: MBA Survey Indexes - Mortgage Market Index, Mortgage Applications (March 8), Mortgage Market Change, Mortgage Refinance Index, Refinancing Change, MBA Mortgage Approvals (March 8), Department of Energy (DOE) U.S. Crude Oil Inventories (March 8), DOE Cushing OK Crude Inventory (March 8), DOE U.S. Gasoline Inventories (March 8), DOE U.S. Distillate Inventory (March 8), DOE U.S. Refinery Utilization (March 8), DOE Crude Oil Implied Demand
March 14
Australia: Consumer Inflation Expectations - March
Brazil: Retail Sales (MoM) - January
China: House Price Index (YoY) – February
Indonesia: Balance of Trade – February
Japan: Tertiary Industry Index (MoM) – January
New Zealand: Business NZ Purchasing Managers Index (PMI) - February
U.S.: Producer Price Index (PPI) (MoM) – February, Retail Sales (MoM) – February, Retail Sales Excluding Autos (MoM) – February, Retail Sales Excluding Gas/Autos (MoM) – February, Business Inventories (MoM) – January, Continuing Jobless Claims – March 2, Initial Jobless Claims – March 10
The Census Bureau reports retail sales data for February. Economists forecast spending on retail and food services to increase 0.7% month over month, after declining 0.8% previously.
March 15
Euro-Zone: France: Inflation Rate (MoM) Final – February, Inflation Rate (YoY) Final – February, Italy: Inflation Rate (YoY) Final – February, Retail Sales (MoM) – January, Balance of Trade - January
India: Balance of Trade – February
Poland: Inflation Rate (YoY) – February
U.S.: University of Michigan Consumer Sentiment Preliminary – March, Industrial Production (MoM) – February, Industrial Production (YoY) – February, Baker Hughes U.S. Rig Count – March 15
The University of Michigan releases its Consumer Sentiment index for March. In February, consumers’ expectations of the year-ahead inflation was 3.0%, close to a three-year low, suggesting that inflation expectations are well anchored.
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.
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