No significant macroeconomic publications are planned for today that could affect the volatility of global markets. However, this week investors will learn about several interesting reports.
On Tuesday, the PMI report for services and the ISM report for services from the USA will be published. The industrial data on Friday were quite a surprise, so these data will be particularly interesting.
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āđāļāļīāļāļāļąāļāļāļĩ āļĨāļāļāļāļąāļāļāļĩāđāļāđāļĄāđ āļāļēāļ§āļāđāđāļŦāļĨāļāđāļāļāļĄāļ·āļāļāļ·āļ āļāļēāļ§āļāđāđāļŦāļĨāļāđāļāļāļĄāļ·āļāļāļ·āļOn Thursday, there will be an ECB meeting. Interest rates have remained unchanged since September, and the ECB has backed away from talks about rate cuts, emphasizing that even if the next move is the first cut, it will happen later than investors predict. At the moment, forecasts price in a full such move only in June.
Then, on Wednesday and Friday, important labor market data from the USA will be published. The reports in January were much stronger than the consensus, which led to a significant lowering of expectations for cuts by the Fed for the entire year 2024. In this context, the reports for February will be key to confirming this trend.
Detailed calendar for the day:
March 5th:
- All day - PMI indices for services for European countries/UK
- 03:00 PM GMT - USA, ISM PMI data for services for February
March 6th: Wednesday
- 01:15 PM GMT - USA, ADP report for February
- 03:00Â PM GMT - USA, Powell's speech
- 03:00Â PM GMT - USA, JOLTS report for January
March 7th: Thursday
- 01:15Â PM GMT - Eurozone, ECB decision
- 01:45Â PM GMT - Eurozone, President Lagarde's conference
- 03:00Â PM GMT - USA, Powell's speech
March 8th: Friday
- 07:00 AM GMT - Germany, industrial production for January
- 01:30Â PM GMT - USA, NFP data for February
