Economic calendar: light macro calendar midweek 🔎

Today's macroeconomic calendar is fairly light in terms of publications. There are no scheduled events that could impact the global market. In the first part of the day, we had the chance to learn a series of data from the UK, including industrial production, GDP data for January, and the trade balance. Most publications met expectations and showed an improvement compared to previous months, indicating a slight improvement in the UK economy and a reduced risk of recession.

In the second part of the day, investors will await retail sales and industrial production data from the Eurozone. Expectations point to a decline in both measures. Industrial production is expected to fall to -2.9% year-over-year in January, compared to a 1.5% year-over-year increase in December.

Detailed schedule for the day:

11:00 AM GMT, Euro Zone - Retail Sales for January:

• forecast -2.9% MoM; previous 1.2% MoM;

11:00 AM GMT, Euro Zone - Industrial Production for January:

• Industrial Production: forecast -1.8% MoM; previous 2.6% MoM;
• Industrial Production: forecast -2.9% YoY; previous 1.2% YoY;

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

• Crude Oil Inventories: forecast 0.900M; previous 1.367M;
• Gasoline Inventories: forecast -1.900M; previous -4.460M;
• EIA Weekly Distillates Stocks: forecast -0.150M; previous -4.131M;​​​​​​​