Weekly Economic Calendar

March 24 – March 29, 2024 Economic report and policy meetings

March 24

Japan:  Bank of Japan Monetary Policy Meeting Minutes, Coincident Index Final – January, Leading Economic Index Final – Januar

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

March 25

Australia:  Westpac Consumer Confidence Index – March, Reserve Bank of Australia (RBA) Connolly Speech

Brazil:  Brazilian Central Bank (BCB) Focus Market Readout    

Euro-Zone:  Spain: Consumer Confidence – February     

South Korea:  Consumer Confidence - March

U.S.:  Chicago Federal Reserve National Activity Index – February, New Home Sales (MoM) February

March 26

Australia:  Westpac Leading Index (MoM) – February, ANZ Business Confidence – March, Monthly CPI Indicator - February

Brazil:  Brazilian Central Bank (BCB) Copom Meeting Minutes, BCB Focus Market Readout

Canada:  Bank of Canada (BoC) Rogers Speech

China:  Industrial Profits YTD (YoY) - February

Euro-Zone:  Germany: GfK Consumer Confidence – April, Spain: GDP Growth Rate (QoQ) Final – 3rd Qtr., GDP Growth Rate (YoY) Final – 4^th Qtr.

South Korea:  Business Confidence - March

U.S.:  Durable Goods Orders (MoM) – February, Durable Goods Orders Excluding Transportation (MoM) – February, House Price Index (MoM) – January, Conference Board Consumer Confidence – March

The Census Bureau releases the durable goods report for February. Consensus estimate is for new orders for manufactured durable goods to increase 1% month over month to $279 billion. Durable goods orders declined $18 billion, or 6.2%, in January.

March 27

Australia:  Housing Credit (MoM) – February, Retail Sales (MoM) Preliminary – February   

Euro-Zone:  Consumer Confidence Final – March, Economic Sentiment – March, Industrial Sentiment – March, Spain: Inflation Rate (MoM) Preliminary – March, Inflation Rate (YoY) Preliminary – March, France: Consumer Confidence – March, Unemployment Benefit Claims – February, Spain: Business Confidence      

Japan:  Bank of Japan (BoJ) Summary of Opinions, Foreign Bond Investment – March 23

Mexico:  Balance of Trade – February, Unemployment Rate - February

South Africa:  Interest Rate Decision

Sweden:  Riksbank (Interest) Rate Decision

U.K.:  GDP Growth Rate (YoY) Final – 4^th Qtr., GDP Growth Rate (QoQ) Final – 4^th Qtr.

U.S.:  MBA Survey Indexes - Mortgage Market Index, Mortgage Applications (March 22), Mortgage Market Change, Mortgage Refinance Index, Refinancing Change, MBA Mortgage Approvals (March 22), Department of Energy (DOE) U.S. Crude Oil Inventories (March 22), DOE Cushing OK Crude Inventory (March 22), DOE U.S. Gasoline Inventories (March 22), DOE U.S. Distillate Inventory (March 22), DOE U.S. Refinery Utilization (March 22), DOE Crude Oil Implied Demand

March 28

Brazil:  Unemployment Rate – February

Canada:  Average Weekly Earnings (YoY) – January, GDP (MoM) – January, GDP (MoM) Preliminary - February

Euro-Zone:  Germany: Retail Sales (YoY) – February, Germany: Unemployment Change – March, Unemployment Rate – March, Unemployed Persons – March, Italy: Business Confidence – March, Consumer Confidence – March

India:  Current Account – 4^th Qtr.

Japan:  Unemployment Rate – February, Industrial Production (YoY) Preliminary – February, Retail Sales (YoY) – February, Housing Starts (YoY)- February   

South Africa:  Balance of Trade - February

Switzerland:  KOF Leading Indicators - March   

U.S.:  GDP Growth Rate (QoQ) Final – 4^th Qtr., Core Personal Consumption Expenditures (PCE) Prices (QoQ) Final – 4^th Qtr., Corporate Profits (QoQ) – 4^th Qtr.,  GDP Price Index (QoQ) Final – 4^th Qtr., PCE Prices (QoQ) – Final – 4^th Qtr., Continuing Jobless Claims – March 16, Initial Jobless Claims – March 23, University of Michigan Consumer Sentiment Final – March, Pending Home Sales (YoY) – February

The Institute for Supply Management releases the Chicago Business Barometer for March. Economists forecast a 45.7 reading, nearly two points more than in February but still below the expansionary level of 50.

March 29

Euro-Zone:  France: Inflation Rate (YoY) Preliminary – March, Inflation Rate (MoM) Preliminary – March, Italy: Inflation Rate (YoY) Preliminary – March, Inflation Rate (MoM) Preliminary - March

Poland:  Inflation Rate (MoM) Preliminary – March, Inflation Rate (YoY) Preliminary - March

U.S.:  Core Personal Consumption Expenditures (PCE) Price Index (YoY) – February, PCE Price Index (YoY) – February, Core PCE Price Index (MoM) – February, Goods Trade Balance Advance – February, PCE Price Index (MoM) – February, Personal Income (MoM)-  February, Personal Spending (MoM) – February, Retail Inventories Excluding Autos (MoM) Advance – February, Baker Hughes U.S. Rig Count – March 29

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.

Equity and fixed-income markets are closed in observance of Good Friday. The Bureau of Economic Analysis release the personal consumption expenditures price index for February. The consensus call is for a 2.5% year-over-year increase, one-tenth of a percentage point more than in January. The core PCE, which excludes volatile food and energy prices, is expected to rise 2.8%, matching the January data. Speaking about the better-than-expected inflation data so far this year, Fed Chairman Jerome Powell said this past week that “they haven’t really changed the overall story, which is that of inflation moving down gradually on a sometimes-bumpy road toward 2%.