Economic calendar: calm start to an important week 📌

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.

On 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
• 03:00 PM GMT - USA, Powell's speech
• 03:00 PM GMT - USA, JOLTS report for January

March 7th: Thursday

• 01:15 PM GMT - Eurozone, ECB decision
• 01:45 PM GMT - Eurozone, President Lagarde's conference
• 03:00 PM GMT - USA, Powell's speech

March 8th: Friday

• 07:00 AM GMT - Germany, industrial production for January
• 01:30 PM GMT - USA, NFP data for February