Weekly Economic Calendar

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

U.K.:  British Retail Consortium (BRC) Retail Sales Monitor (YoY) - February

March 5

Australia:  Ai Group Industry Index – February, GDP Growth Rate (YoY) – 4^th Qtr., GDP (QoQ) - 4^th 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 – 4^th Qtr., GDP Growth Rate (QoQ) Final – 4^th Qtr., Germany:  Balance of Trade – January, Exports January, Exports (MoM) - January

South Korea:  Inflation Rate (YoY) – February   

South Africa:  GDP Growth Rate (Qo) – 4^th Qtr., GDP Growth Rate (YoY) – 4^th 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 2^nd  

Mexico:  Consumer Confidence - February

Poland:  Interest Rate Decision - March

South Africa:  Business Confidence – 1^st 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) 3^rd Estimate – 4^th Qtr., GDP Growth Rate (YoY) 3^rd Estimate – 4^th 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.