On the Macro
It’s another busy week ahead on the economic calendar, with 54 stats in focus in the week ending 25th February. In the week prior, 66 stats had been in focus.
For the Dollar:
Early in the week, prelim private sector PMIs and consumer confidence figures for February will be in focus. Expect the services PMI and consumer confidence numbers to be key.
On Thursday, the market attention will shift to 4th quarter GDP and initial jobless claims. Wrapping things up will be core durable goods, personal spending, and inflation figures due out on Friday.
In the week ending 18th February, the Dollar Spot Index fell by 0.04% to 96.043.
For the EUR:
Prelim private sector PMIs for France, Germany, and the Eurozone will draw interest on Monday. Following disappointing numbers for January, the markets will be looking for a pickup in private sector activity.
Mid-week, German business and consumer sentiment figures will be in focus before 4th quarter GDP numbers from France and Germany on Friday.
Other stats include finalized inflation figures for January and French consumer spending figures. Barring a marked revision to the inflation numbers, the stats should have a muted impact on the EUR, however.
On the monetary policy front, ECB President Lagarde is due to speak on Friday. Expect market reaction to any chatter on the economy or monetary policy.
For the week, the EUR fell by 0.25% to $1.1322.
For the Pound:
Private sector PMIs for February will be in focus on Monday, with the services PMI key. On Tuesday, CBI Industrial Trend Orders will also draw interest on Tuesday.
The Pound rose by 0.18% to end the week at $1.3589.
For the Loonie:
It’s a particularly quiet week ahead, with no major stats due out of Canada to provide the Loonie with direction. A lack of stats will leave the Loonie in the hands of key stats from the U.S and the Eurozone and geopolitics.
The Loonie ended the week down 0.12% to C$1.2752 against the U.S Dollar.
From the Asia Pacific
For the Aussie Dollar:
It’s a quiet week ahead. Key stats include 4th quarter construction work done and wage growth figures mid-week. Expect the wage growth figures to be key.
On Thursday, private new CAPEX figures for the 4th quarter will also provide direction.
The Aussie Dollar rose by 0.56% to $0.7177.
For the Kiwi Dollar:
It’s a big week ahead. On Monday, trade data will draw interest ahead of 4th quarter retail sales figures on Friday. While the stats will influence, the RBNZ monetary policy decision and forward guidance on Wednesday will be key.
The Kiwi Dollar ended the week up by 0.69% to $0.6697.
For the Japanese Yen:
Inflation figures for February will be in focus on Friday. Barring a marked pickup in inflationary pressure, the numbers are unlikely to have a material impact on the Yen.
Geopolitics and market risk sentiment will likely be the key driver in the week.
The Japanese Yen rose by 0.36% to end the week at ¥115.010 against the U.S Dollar.
Out of China
It’s a particularly quiet week ahead, with no major stats due out of China to provide the markets with direction. While there are no stats, the PBoC will be in action on Monday, with loan prime rates in focus.
In the week ending 18th February, the Yuan rose by 0.46% to end the week at 6.3256 against the Dollar.
Geo-Politics
Russia and the Ukraine will likely be the main area of focus in the week ahead, which could overshadow economic data and central bank chatter once more.
This article was originally posted on FX Empire
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