March 2 – March 8, 2024 Economic report and policy meetings
March 2
Singapore: SIPMM Manufacturing Purchasing Managers Index (PMI) - February
March 3
Australia: Building Permits (MoM) Preliminary - January
Japan: Capital Spending (YoY) – 4th Qtr.
South Korea: S&P Global Manufacturing Purchasing Managers Index (PMI) – February
Switzerland: Inflation Rate (YoY) – February
March 4
Australia: Judo Bank Services Purchasing Managers Index (PMI) Final - February
Brazil: Brazilian Central Bank (BCB) Focus Market Readout
China: Caixin Composite Purchasing Managers Index (PMI) – February, Caixin Services PMI – February
Euro-Zone: Spain: Unemployment Change – February, France: Industrial Production (MoM) - January
Philippines: Inflation Rate (YoY) - February
South Korea: GDP Growth Rate (QoQ) Final – 4th Qtr., GDP Growth Rate (YoY) Final – 4th Qtr.
U.K.: British Retail Consortium (BRC) Retail Sales Monitor (YoY) - February
March 5
Australia: Ai Group Industry Index – February, GDP Growth Rate (YoY) – 4th Qtr., GDP (QoQ) - 4th Qtr.
Brazil: S&P Global Services Purchasing Managers Index - February
Euro-Zone: HCOB Services Purchasing Managers Index (PMI) Final – February, Spain: HCOB Services Purchasing Managers Index (PMI) – February, Italy: HCOB Services PMI – February, France: HCOB Services PMI Final – February, Germany: HCOB Services PMI Final – February, Italy: GDP Growth Rate (YoY) Final – 4th Qtr., GDP Growth Rate (QoQ) Final – 4th Qtr., Germany: Balance of Trade – January, Exports January, Exports (MoM) - January
South Korea: Inflation Rate (YoY) – February
South Africa: GDP Growth Rate (Qo) – 4th Qtr., GDP Growth Rate (YoY) – 4th Qtr.
U.K.: Institute of Supply Management (ISM) Services Purchasing Managers Index – February, Factory Orders (MoM) – January, S&P Global Services Purchasing Managers Index (PMI) Final – February, S&P Global Composite PMI Final – February, S&P Global Services PMI Final – February, RCM/TIPP Economic Index – March
Fourth-quarter earnings season winds down, as more than 90% of S&P 500 index companies have already reported.
March 6
Australia: Balance of Trade – January, Home: Loans (MoM) – January, Investment Lending for Homes - January
Brazil: Industrial Production (MoM) – January, Balance of Trade - February
Canada: Bank of Canada (BoC) Interest Rate Decision, BoC Press Conference, Ivey Purchasing Managers Index (PMI) s.a. – February
China: Balance of Trade – Jan./Feb.
Euro-Zone: Retail Sales (YoY) – January
Japan: Foreign Bond Investment – March 2nd
Mexico: Consumer Confidence - February
Poland: Interest Rate Decision - March
South Africa: Business Confidence – 1st Qtr.
Switzerland: Unemployment Rate - February
U.K.: S&P Global Construction Purchasing Managers Index (PMI) – February, Spring Budget 2024
U.S.: ADP Employment Change – February, Wholesale Inventories (MoM) – January, Federal Reserve’s Beige Book, MBA Survey Indexes - Mortgage Market Index, Mortgage Applications (March 1), Mortgage Market Change, Mortgage Refinance Index, Refinancing Change, MBA Mortgage Approvals (March 1), Department of Energy (DOE) U.S. Crude Oil Inventories (March 1), DOE Cushing OK Crude Inventory (March 1), DOE U.S. Gasoline Inventories (March 1), DOE U.S. Distillate Inventory (March 1), DOE U.S. Refinery Utilization (March 1), DOE Crude Oil Implied Demand, Federal Reserve’s Daly Speech
Federal Reserve Chairman Jerome Powell testifies before the House Financial Services Committee as part of the Semiannual Monetary Policy Report to Congress. Powell appears before the Senate on Thursday.
March 7
Canada: Balance of Trade – January, Building Permits (MoM) - January
Euro-Zone: European Central Bank (ECB) Interest Rate Decision, Deposit Facility Rate, Marginal Lending Rate, ECB Press Conference, France: Balance of Trade – January
Japan: Coincident Index Preliminary – January, Economy Watchers Survey Current – February, Economy Watchers Survey: Outlook – February, Leading Economic Index Preliminary – January
Mexico: Inflation Rate (YoY) – February, Core Inflation Rate (MoM) - February
U.S.: Balance of Trade – January, Exports – January, Imports – January, Continuing Jobless Claims – February 24, Initial Jobless Claims – March 2, Consumer Credit Change – January
March 8
Canada: Employment Change – February, Unemployment Rate – February, Average Hourly Wages (YoY) – February, Full Time Employment Change – February
China: Inflation Rate (YoY) – February, Inflation Rate (MoM) – February, Producer Price Index (YoY) - February
Euro-Zone: GDP Growth Rate (QoQ) 3rd Estimate – 4th Qtr., GDP Growth Rate (YoY) 3rd Estimate – 4th Qtr.
U.S.: Non-Farm Payrolls – February, Unemployment Rate – February, Average Hourly Earnings (MoM) – February, Average Hourly Earnings (YoY) – February, Average Weekly Hours – February, Nonfarm Payrolls Private – February, Participation Rate – February, Baker Hughes U.S. Rig Count – March 8
The BLS releases the jobs report for February. Consensus estimate is for an increase of 200,000 in nonfarm payrolls, while the unemployment rate is expected to remain unchanged at 3.7%. On Feb. 2 January jobs growth surprised to the upside, as it has for much of the past two years, as the economy added 353,000 jobs, more than double expectations. The stock market initially sold off when the data were released on concerns the Federal Reserve would delay cutting interest rates but ended the day in the green and rose 5.2% in February, index’s best February showing since 2015.
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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