Economic calendar: focus on Fed bankers' speeches and US GDP 🔔

Today's economic calendar is fairly light in the first part of the day. However, investors' attention will be focused on the USA during the second half. First, GDP data for Q4 2023 will be published, followed by scheduled speeches from several Federal Reserve members.

The GDP report is expected to maintain a high positive growth for the US economy in the last quarter of 2023. The analysts' consensus points to a 3.3% growth in annualized terms. The current baseline scenario priced in by investors is a soft landing for the US economy, so robust GDP data will only confirm this path.

Detailed Agenda for the Day:

01:30 PM GMT, United States - Balance of Tade Data for January:

• Goods Trade Balance: forecast -88.40B; previous -87.89B;

01:30 PM GMT, United States - GDP data:

• GDP Sales (Q4): forecast 3.2%; previous 3.6%;
• GDP Price Index (Q4): forecast 1.5% QoQ; previous 3.3% QoQ;
• GDP (Q4): forecast 3.3% QoQ; previous 4.9% QoQ;
• Core PCE Prices (Q4): forecast 2.00%; previous 2.00%;
• Real Consumer Spending (Q4): forecast 2.8%; previous 3.1%;
• PCE Prices (Q4): forecast 1.7%; previous 2.6%;

03:30 PM GMT, United States - EIA Data:

• Gasoline Inventories: forecast -1.460M; previous -0.294M;
• EIA Weekly Distillates Stocks: forecast -2.140M; previous -4.009M;
• Crude Oil Inventories: forecast 3.100M; previous 3.514M;

Bankers' Speeches:

• 02:00 PM GMT, Euro Zone - ECB McCaul Speaks
• 03:30 PM GMT, United Kingdom - BoE MPC Member Mann
• 05:00 PM GMT, United States - FOMC Member Bostic Speaks
• 05:45 PM GMT, United States - FOMC Member Williams Speaks
• 07:10 PM GMT, New Zealand - RBNZ Gov Orr Speaks