Weekly Economic Calendar

March 10 – March 15, 2024 Economic report and policy meetings

March 10

China:  National People’s Congress

Japan:  GDP Growth Annualized Final – 4^th Qtr., GDP Growth Rate (QoQ) Final – 4^th Qtr.

March 11

Australia:  Reserve Bank of Australia (RBA) Hunter Speech

Brazil:  Brazilian Central Bank (BCB) Focus Market Readout

Japan:  BSI Large Manufacturing (QoQ) – 1^st 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.