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 – 4th Qtr., GDP Growth Rate (YoY) Final – 4th 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 – 4th 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 – 4th Qtr., GDP Growth Rate (QoQ) Final – 4th 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 – 4th 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 – 4th Qtr., Core Personal Consumption Expenditures (PCE) Prices (QoQ) Final – 4th Qtr., Corporate Profits (QoQ) – 4th Qtr., GDP Price Index (QoQ) Final – 4th Qtr., PCE Prices (QoQ) – Final – 4th 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%.
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