FOMC minutes are already behind us and now markets' attention shifts to ECB minutes, scheduled for Thursday. However, investors will also tune in for survey data from the United States, namely Conference Board index and ISMs, as well as flash CPI readings from Europe. Be sure to watch US500, DE30 and EURUSD next week!
US500
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Create account Try a demo Download mobile app Download mobile appIn a rather unusual move, the US Bureau of Labor Statistics scheduled February's NFP report release for the second Friday of March, rather than the first. Nevertheless, it does not mean that traders will complain about lack of US data in the week ahead. Conference Board consumer confidence index for February will be released on Tuesday, 3:00 pm GMT while manufacturing and services ISMs for February will be released on Wednesday and Friday, respectively (also at 3:00 pm GMT). CB index and manufacturing ISM are expected to improve compared to January levels while services ISM is seen deteriorating.
DE30
This week saw the release of FOMC minutes and next week will see the release of ECB minutes (Thursday, 12:30 pm GMT)! However, case ECB minutes may be the same as with FOMC minutes - they will be heavily outdated. Both Fed and ECB members have struck a hawkish note since the latest meeting with ECB Nagel signaling a 'robust' ECB rate hike in March on Friday. However, should the document include similarly hawkish remarks as FOMC minutes regarding number of hawks, European indices like German DE30 may find themselves under pressure.
EURUSD
ECB minutes are not the only key releases from Europe scheduled for next week. Investors will also be offered flash CPI readings from euro area countries for February. As usual, German CPI data for February scheduled for Wednesday, 1:00 pm GMT will be the most closely watched. It is expected the German headline price growth will decelerate from 8.7% recorded in January to 8.6% YoY in February. While next week's CPI reading won't have any impact on content of ECB minutes, which will be a recap of discussions from February 2 ECB meeting, it may have impact on views of central bankers as well as EURUSD moves.
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