- US President’s Day (Full Day) – No stock trading session in the US on account of the President’s Day.
Tuesday – 19 February 2019
- RBA Minutes (AUD, GMT 00:30) – The RBA minutes will provide more insight on the views the Australian Central Bank has about the economy.
- Average Earnings and Unemployment (GBP, GMT 09:30) – Earnings are expected to have grown by 3.4% in the last quarter of 2018, while the ILO Unemployment Rate for the 3 months to December is expected to have declined to 3.9%.
- Trade Balance (JPY, GMT 23:50) – Japanese imports are expected to have increased by 3.7% y/y in January, compared to 1.9% in December, in expectation of higher domestic consumption. Exports are expected to have declined by 1.9% y/y in January. Overall, the trade balance is expected to have improved in January.
Wednesday – 20 February 2019
- Wage Price Index (AUD, GMT 00:30) – Australian wages are expected to have increased by 0.6% q/q in the final quarter of 2018, at the same level as in 2018Q3.
- FOMC Minutes (USD, GMT 19:00) – FOMC minutes, detailing the view of each of the Fed Governors and FOMC Members shed light on their perspectives over the future of the US economy.
Thursday – 21 February 2019
- Employment Data (AUD, GMT 01:30) – Employment is expected to have increased by 15K in Australia in January, compared to 21.6K in December. The unemployment rate is expected to have remained at 5%.
- All Industry Activity Index (JPY, GMT 04:30) – Japanese industry activity is expected to have grown by 0.5%, compared to a 0.3% contraction last month, indicating that the Japanese economy is slowly increasing consumption.
- EU PMIs (EUR, GMT 09:00) – Both manufacturing and services February PMIs are expected to have remained at the same levels as in January.
- Durable Goods and Philly Fed (USD, GMT 13:30) – Durable Goods release has been delayed by the US government shutdown and are expected to have increased by 0.2% m/m in December. Philly Fed Index is expected to remain on positive grounds, albeit decreasing to 14 compared to 17 in January.
- US PMIs (USD, 14:45) – The Manufacturing PMI is expected to have declined to 54.7 in February, compared to 54.9 in January, while the Services PMI is expected to have remained unchanged at 54.2
- Existing Home Sales (USD, GMT 15:00) – Home sales have regained their status as an important indicator after the financial crisis and can have a strong effect on the markets. The release is expected to record 5.05M compared to 4.99M in December.
Friday – 22 February 2019
- National CPI Index (JPY, GMT 01:30) – The Japanese price index is expected to have increased to 0.8% on a y/y basis, compared to 0.7% on December.
- CPI Inflation (EUR, GMT 10:00) – Core CPI inflation is expected to have grown by 1.1% y/y in January, the same level as December. CPI inflation is also expected to have increased by 1.4% y/y, the same growth rate as December.
- Retail Sales (CAD, GMT 13:30) – Canadian sales are expected to have decreased by 0.2% m/m in December, compared to 0.9% m/m in November.
*Delayed data from the US Government shutdown is tentatively scheduled for next week.
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Dr Nektarios Michail
Market Analyst
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