Economic calendar: German ZEW Indicator and Canadian inflation report ahead 📌

The macroeconomic calendar today was quite interesting. However, most of the significant events took place in the first part of the day, including the interest rate decisions by the Bank of Japan (BoJ) and the Reserve Bank of Australia (RBA). Shortly after the publication of the BoJ's decision, investors also learned about Japan's industrial production data, which was slightly better than expected. The data showed a month-to-month decline of -6.7% compared to expectations of -7.5%.

The second part of the day does not contain as many important publications, but a few reports are worth noting. We will start with the publication of the ZEW economic sentiment indicator at 10:00 AM GMT. Then, investors' attention will shift across the ocean, where we will learn about the inflation report from Canada and housing market data from the USA.

Detailed schedule for the day:

04:30 AM GMT, Japan - Industrial Production for January:

• Industrial Production: actual -6.7% MoM; forecast -7.5% MoM; previous 1.2% MoM;

10:00 AM GMT, Germany - German ZEW Economic Sentiment for March:

• forecast 20.6; previous 19.9;

12:30 PM GMT, United States - Building Permits for February:

• forecast 1.500M; previous 1.489M;
• previous -0.3% MoM;

12:30 PM GMT, United States - Housing Starts for February:

• forecast 1.430M; previous 1.331M;
• previous -14.8% MoM;

12:30 PM GMT, Canada - Inflation Data for February:

• CPI: forecast 0.6% MoM; previous 0.0% MoM;
• CPI: forecast 3.1% YoY; previous 2.9% YoY;
• Core CPI: previous 2.4% YoY;
• Core CPI: previous 0.1% MoM;